Yankees Aren't Done After Juan Soto Deal, Could Push Payroll Above $300 Million
The New York Yankees will already be the big winners of the offseason after the Juan Soto trade is officially completed.
READ: JUAN SOTO TO THE YANKEES IS BEING FINALIZED, A BAD MOVE FOR BASEBALL
But according to several reports Wednesday, their offseason acquisitions aren't done there, despite a massive increase in payroll. According to Fangraphs' Roster Resource, the Yankees salary commitments for 2024 were already around $247 million, with a luxury tax number of $257 million.
Soto is expected to get around $32 to $33 million in arbitration, pushing their payroll up to nearly $280 million. Nearly $300 million considering luxury tax expenditures. And that's before the penalties.
Yet the team is reportedly still in on the second most desirable free agent in the sport: Yoshinobu Yamamoto. According to Jon Morosi, they're set to meet with Yamamoto on Monday, and are widely considered to be among the most likely teams to sign him.
But Yamamoto is expected to command between 8 to 10 years and $250 to $300 million. Combine that with Soto, the posting fee, and their existing commitments, and you're looking at a massive step up.
SAN DIEGO - Juan Soto of the San Diego Padres at bat during a game against the Arizona Diamondbacks at PETCO Park on Sept. 5, 2022. (Photo by Sean M. Haffey/Getty Images)
Yankees Spending Big To Return To Form
If the Yankees do sign Yamamoto, it would push them above the $300 million threshold in team payroll.
Only Steve Cohen's New York Mets have been willing to go that high. Although the Dodgers have spent that much on salaries when considering the luxury tax.
But Soto and Yamamoto would mean adding another $60 to $65 million in payroll to their already existing $247 million in commitments. On top of the $35-plus million posting fee they'd owe to Yamamoto's Japanese team.
After missing the postseason in 2023, Hank Steinbrenner isn't messing around.
If they are able to bring in the top available player in the trade market and sign the top available pitcher, preseason expectations in the Bronx will skyrocket. Suddenly, despite the Orioles ascendence, the Yankees would immediately become favorites to win the AL East. Although as the Mets will you tell you, preseason expectations don't amount to a hill of beans once the season starts.