With the 2024 General Managers Meetings getting started in San Antonio, the Yankees are already making moves.
They’ve been busy since the Dodgers defeated them in the World Series last week, most notably maintaining the status quo with Gerrit Cole after the ace initially opted out of his contract. The Yankees also declined club options on Lou Trivino and Anthony Rizzo — who got a $6 million buyout in the process — and picked up a club option on Luke Weaver.
Monday saw the team trade minor league outfielder Taylor Trammell to Houston as well.
Even with those moves quickly out of the way, Brian Cashman still has a lot of work to do this offseason, which will be dominated by Juan Soto’s free agency.
Here’s a look at where the Yankees stand with the offseason already underway.
TOP PRIORITIES AND IN-HOUSE FREE AGENTS
Odds are the Yankees wouldn’t have made it to the World Series without Soto. Re-signing the right fielder should be the team’s top priority, though other high-rollers are pursuing the 26-year-old superstar, who is expected to command a contract north of $500 million.
The Yankees have a few other free agents opening some holes on their roster. That includes second baseman Gleyber Torres, who did not receive a qualifying offer, and left fielder Alex Verdugo. Both have expressed a desire to remain in pinstripes, though it’s easy to see neither getting their wish.
By declining Rizzo’s option, the Yankees also have a need at first base. Rizzo has also said he would like to stay, but upgrading at first should be the team’s main focus after Soto.
The Yankees could fill some of these positions with younger, cheaper players — especially if Soto stays — as Hal Steinbrenner has said yearly payrolls over $300 million are not sustainable. Jasson Domínguez could take over in left field, though his defense will have to improve this winter. Prospect Caleb Durbin, meanwhile, is well-regarded in the organization and an option at second base if Torres doesn’t return.
There’s also Ben Rice for first base, though he didn’t exactly show enough to claim the position this past season.
The Yankees have a few free agent relievers as well, including Clay Holmes, Tommy Kahnle, Tim Hill and Jonathan Loáisiga. Of those mentioned, a reunion with Hill seems the most likely, as he thrived after departing the historically woeful White Sox mid-season.
The Yankees could also use another high-end starter, even with Cole staying put. Adding one will be easier said than done if Soto is retained and Steinbrenner insists on trimming the budget, though.
If Soto signs elsewhere, however, it will be interesting to see how the Yankees spend the hundreds of millions they’ll have to set aside for him. Bringing in a co-ace to go behind Cole and a power-hitting first baseman wouldn’t be the worst way for the team to reallocate resources.
ARBITRATION-ELIGIBLE PLAYERS
With a few well-paid veterans coming off the books, the Yankees can save some additional money by non-tendering a few arbitration-eligible players who are due for raises.
Trent Grisham (projected to make $5.7 million by MLB Trade Rumors) and Tim Mayza ($4 million) make the most sense here. Mayza was the third lefty in the Yankees’ pen by the end of the postseason, and Grisham didn’t play at all in the playoffs despite making the roster in every round.
The outfielder was seldomly used during the season, though his defensive prowess could offer some value in a trade. Grisham could also fit into a contingency plan if the Yankees find themselves looking for replacements for Soto and Verdugo.
Jon Berti ($3.8 million) is another non-tender possibility after an injury-plagued season, while the Yankees would be better off hanging on to Jose Trevino ($3.4 million) for a trade if they wish to move on from his salary.
Nestor Cortes ($7.7 million), Jazz Chisholm Jr. ($6.9 million), Clarke Schmidt ($3.5 million) and Mark Leiter Jr. ($2.1 million) aren’t going anywhere as far as tenders are concerned. The same probably goes for Scott Effross ($900,000), who has options and was pitching at a high level in 2022 before Tommy John and back surgeries derailed him.
JT Brubaker ($2.275 million) is another question mark after his own poor stretch of health.
