Don’t expect Santa to bring many gifts from free agents, Yankees fans.
Yankees play-by-play television voice Michael Kay offered a bleak outlook for the Yankees’ offseason on Thursday amid a desire to reduce the payroll to less than $300 million.
“There’s a good chance, y’all, that the Yankees’ goal right now on Dec. 4 is to basically stay under the $300 million threshold,” Kay said on his self-titled ESPN radio show.
However, Kay wondered if the Yankees will actually stick to that goal, as it would be difficult to improve the team while reducing payroll.
“And if you want to improve on last year’s team, you can’t do that (reduce payroll to less than $300 million),” Kay said. “You can’t do it. And therefore, if it’s true that they’re not spending more than $300 million, I have to wait and see if that’s true because I can’t believe those are the marching orders, because if they are the marching orders, they can’t recreate a 94-win team.”
Before Yankees fans panic, it’s worth noting that the Yankees have discussed the idea of staying under $300 million before going above that mark for free agents only.
Yankees owner Hal Steinbrenner has previously said that running payrolls of at least $300 million a year is “unsustainable,” and recently said “of course” it would be ideal to reduce payroll costs.
However, he noted that so far he has not committed to reducing costs.
“We can talk before (general manager Brian Cashman) goes into the Winter Meetings about a range, but because it’s a fluid situation, that range could be a bye in two seconds if a deal comes together that I think would be very beneficial to a particular area of need that we have,” Steinbrenner said last month. “So it’s hard to give you a number, that’s what I’m trying to say. It’s a different deal.”
Following Trent Grisham’s surprise acceptance of the qualifying offer, the Yankees are sitting on approximately $278 million while factoring in arbitration raises, according to Cot’s Contracts.
That gives them roughly $22 million to play with in a $300 million scenario, which would essentially eliminate them from every top free agent.
The Yankees are still pursuing a Cody Bellinger reunion, while some wondered if they could move on from Kyle Tucker if his price drops.
That restraint could also eliminate the addition of Japanese pitcher Tatsuya Imai.
“If they plan to stay under $300 (million), they’re not going to get (Cody) Bellinger, they’re not going to get (Kyle) Tucker, they’re not going to be able to make any significant moves,” Kay said, “because when you look at the Yankees’ high salaries, who exactly can they move to create that salary cap space to get a $25 million or $30 million contract, let’s say Bellinger, and if it’s Tucker, a $40 million contract. agreement?”

Kay noted that the Yankees don’t have the flexibility to move some pieces to get below $300 million and free up cap space for a Bellinger- or Tucker-level player.
He called Giancarlo Stanton ($25 million CBT) “immobile,” noted that Aaron Judge ($40 million), Gerrit Cole ($36 million) and Max Fried ($27.3 million) are not traded and wondered if Carlos Rodon ($27 million) could return “top value.”
Ryan McMahon ($15.4 million) has a movable contract, but Kay wonders if anyone wants him.
“People say, ‘Oh, they should trade Ryan McMahon,’” Kay said. “I don’t know if there’s going to be that much of a market for Ryan McMahon, who is an excellent defenseman but not a good hitter.”
He added: “I don’t think people will be clamoring to take over Ryan McMahon.”
It will be an offseason challenge for Cashman and his lieutenants to improve his team, whether he only has $20 million to play with or even if they free up $300 million.
“I know they have great pitching, especially when Cole comes back and Rodon comes back, probably sometime in May, and then (Cam) Schlittler looks ready to take the next step. That’s all great,” Kay said, “but you have to be offensive as well.”
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