Principal owner Hal Steinbrenner is prepared to open the vault as the New York Yankees begin one of their most significant offseasons in modern history.
The 55-year-old has expressed his anxieties about maintaining a high payroll, but he won’t allow those issues to alter his perspective in free agency.
During the MLB Owners Meeting on Wednesday, Steinbrenner remarked, “Payrolls like the ones we’ve seen this year, along with the resulting luxury taxes, are neither sustainable nor practical for most, if not all, team owners.” He added, “That doesn’t mean I can’t aim to achieve my goals in any given season. We have the flexibility to sign any player we choose.”
Steinbrenner stated back in May that the Yankees’ payroll, excluding luxury tax penalties, was unsustainable, surpassing $300 million for the first time. He did concede on Wednesday, though, that the Bronx Bombers’ starting lineup is better than it was during the previous offseason; their 2025 salary is expected to be $238 million.
Naturally, this has nothing to do with a deal for outfielder Juan Soto, whom the Yankees are trying to sign on a long-term basis in the face of numerous other big-market teams. However, Steinbrenner is well aware of the fan base’s expectations to sign the 26-year-old star as well as the competitors, namely Steve Cohen of the New York Mets.
“Our fans are heard. Having him in New York was a huge hit with our fans. We made it to the World Series in large part because of him,” Steinbrenner remarked. “I have ears. I am aware of the expectations. We wouldn’t have traveled to the West Coast if it hadn’t been a priority.
On Monday, Steinbrenner, along with general manager Brian Cashman, field manager Aaron Boone, team president Randy Levine, and special assistant Omar Minaya, met with Soto and his agent Scott Boras in Newport Beach, California. While it’s unclear whether Soto is leaning toward the Yankees or not, the meeting is reported to have gone well.
Even if the Bronx Bombers are unable to retain the Dominican star, there are plenty of talented players available in free agency. The Yankees could bolster their outfield with Anthony Santander or Teoscar Hernandez, address third base while weakening an AL rival by signing Alex Bregman, or enhance their pitching rotation by bringing in Corbin Burnes, Blake Snell, or Max Fried.
In any case, the Yankees should continue to seek these other free agents in order to bolster the team overall, even though keeping Soto in pinstripes is the ideal result. Thankfully, Steinbrenner seems to have the means to make large expenditures.
