It's unlikely the New York Yankees had ever offered a free agent anything in the neighborhood of $760 million over 16 years before their negotiations with Juan Soto went down to the wire this weekend.
The Yankees still came up short. The star outfielder agreed to a landmark 15-year, $765 million deal with the New York Mets on Sunday. That's the bad news for the Yankees.
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The good news? The free agent market is still robust, with plenty of opportunities to find players who fit the Yankees' many roster holes.
"They certainly need to look at first base, third base, outfield; we know they've talking to (pitchers Max) Fried and (Corbin) Burnes," New York Post reporter Jon Heyman said on MLB Network. "They're one of seven teams in on Burnes. The Giants are in on Burnes. Boston, Toronto, some of the same teams. They're in on him but I think they're a little concerned they may lose him to California. We shall see."
The Yankees had four starting pitchers make at least 29 starts and throw at least 150 innings in 2024. Three of the four delivered a sub-4.00 ERA. None of the four was ace Gerrit Cole, who is looking forward to a healthy season in 2025 after missing time with an elbow injury early last season.
In theory, that could make position players the Yankees' top priority this offseason as they pivot to their next target. Still, Heyman noted that Fried, a free agent, is "a guy they certainly are very, very interested in. He's got a huge market. An ace pitcher with like a (140) ERA-plus. That would be a big one."
Without Soto - who finished third in American League MVP voting last year - the Yankees will be in the market for a corner outfielder who can replace some of his run production at the top of their lineup.
Center field prospect Jasson Dominguez has been knocking at the door for a couple of years, but does not project to hit for power at the major league level. He could push reigning American League MVP Aaron Judge to a corner outfield position if he seizes a job out of spring training.
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That would still leave room for a free agent such as Teoscar Hernández or Anthony Santander.
The Athletic's Ken Rosenthal, speaking on the Fair Territory podcast Monday, said he expects the Yankees to get in the mix for both players. Dodgers Nation reported Sunday the Red Sox also have interest in Hernández. Jon Morosi of MLB Network reported the Sox have an interest in Santander, as well:
Rosenthal also noted that first baseman Anthony Rizzo, a free agent, won't re-sign with the Yankees after a down year at the plate. To that end, Heyman suggested free agents Pete Alonso, Christian Walker, and Carlos Santana as potential replacements at first base in free agency.
Rosenthal and Heyman both suggested free agent third baseman Alex Bregman as a potential fit for the Yankees, with Jazz Chisholm moving to second base or the outfield in a corresponding move.
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Heyman cautioned putting too much stock in the link between the Yankees and Bregman, however.
"I'm not sure that's going to work out," Heyman told MLB Network. "He's got a good market. Boston and some other teams I think are in there."
Rosenthal also noted the Yankees have a big hole to fill in their bullpen after the Mets signed Clay Holmes with the intention of using him as a starting pitcher. He pointed to Tanner Scott and Jeff Hoffman atop the list of free-agent closers.