Brian Cashman believes Yankees have cash flexibility despite $300 million cap hit

Only Hal Steinbrenner knows where the Yankees’ 2026 payroll will ultimately land — or at least how high he’s willing to land it — though he has made his feelings known about the sustainability of a $300 million-plus payroll (“unsustainable”).

While Brian Cashman has little to gain from revealing how much money he actually has to work with this offseason, he emphasized Thursday night that he has the flexibility to do what he needs to do to improve the roster.

“I think we’re in a good place,” Cashman said before participating in the annual Covenant House Sleep Out at Javits Center. “The job right now is to figure out what’s available, and they’re all at different price points.”

With Trent Grisham accepting the $22.025 million qualifying offer earlier this week, the Yankees’ projected luxury tax salary for 2026 is already $281 million, according to Cot’s Contracts.

When asked if it was realistic to stay below $300 million, Cashman responded.

“I think it could go either way,” he said. “It just depends on how things work out and what opportunities present themselves.”

Cashman said Steinbrenner “didn’t necessarily” give him a budget, but indicated there could be certain parameters while the owner remained willing to listen to anything.

That includes Cody Bellinger, whose return alone would push the payroll above $300 million before any other moves are made.

“I’m good at spending money,” Cashman said with a grin.

Friday at 8 p.m. is the no-tender deadline, and with it comes some interesting calls for the Yankees for some of their arbitration-eligible relievers, including Mark Leiter Jr., Ian Hamilton, Jake Cousins ​​and Scott Effross.

“We know what we plan to do,” Cashman said. “We are having discussions with clubs at the same time. We may do business before the tender. Whether we do deals, we may do transactions. And yes, we will have non-tenders too.”

Cashman had a phone call scheduled for 9 a.m. Friday with an agent of a non-tendered candidate, which will come after getting little to no sleep while participating in the Sleep Out (bundled up in a sleeping bag outside to raise money and awareness of youth homelessness) for the 14th year.

“I wouldn’t wish this on anyone,” Cashman said. “This is one night, and I finally get to get off that cinder block and go home, shower and get Starbucks and start my day and get some rest, where day in and day out, week in and week out, month in and month out, these kids don’t know where they’re going to lay their heads. They’re trying to stay safe, trying to avoid the elements and crime and when their next good meal is coming. I can’t imagine.”