The Yankees have shown interest in Pirates right-hander Mitch Keller, reports Noah Hiles of the Pittsburgh Post-Gazette. They’re one of several clubs in the running for the 29-year-old righty, who’s signed for three additional years beyond the current season. Both the Mets and Cubs have been tied to Keller in recent weeks. Hiles adds that the Cubs currently view Keller more of a backup option in their rotation search, while the Mets are “very” interested.
Interest in Keller is only natural for the Yankees, who’ll be prominent players in the starting pitching market over the next two weeks. GM Brian Cashman acknowledged as much recently when indicating that pitching will be his top priority this summer. New York lost Gerrit Cole to Tommy John surgery before the season even began. Clarke Schmidt met the same fate earlier this month. Reigning AL Rookie of the Year Luis Gil still hasn’t pitched this season due to a lat strain. Lefty Ryan Yarbrough has also been out nearly a month due to an oblique strain.
At the moment, the Yankees have Max Fried, Carlos Rodon, Marcus Stroman and rookies Will Warren and Cam Schlittler in the rotation. The hope is that Gil, who’s already on a minor league rehab assignment, can strengthen that group soon. In theory, Yarbrough shouldn’t be far behind, but he’s yet to begin a rehab stint. That assumes no setbacks and a return to pre-injury form though — neither of which is a guarantee.
Keller has started 20 games for Pittsburgh and boasts a 3.48 ERA. He’s punched out 18.7% of his opponents and turned in a career-low 5.5% walk rate. Keller has been on a particularly strong run of late, pitching into the sixth inning or later in 13 consecutive starts and compiling a 3.04 ERA over 80 innings in that time. Ten of those appearances have been quality starts. Dating back to 2022, Keller is tied for the seventh-most starts (112) and tenth-most innings (650 1/3) in all of Major League Baseball.
Bringing Keller into the fold would make sense both to help this season and to provide some future stability. Stroman is a free agent at season’s end. Neither Warren nor Schlittler has cemented himself as a long-term rotation cog yet. Cole’s rehab will probably extend beyond Opening Day next year. Schmidt, given the timing of his surgery, won’t make it back to the mound until at least late next year — possibly not until 2027.
Keller would add durability to that group and create the possibility of a very strong midseason rotation next year. Health for all parties can’t necessarily be assumed, but there’d be a real chance that by June or so, the Yankees could deploy a rotation including Cole, Fried, Rodon, Keller and Gil, with Warren and Schlittler as the sixth and seventh arms on the depth chart. That sort of depth would rank among the best in baseball.
There are other factors to consider. Keller is midway through the second season of a five-year, $77MM contract. He’s being paid $15MM in 2025 and will earn salaries of $16.5MM, $18MM and $20MM over the next three seasons. That’s fine value for a mid-rotation arm of Keller’s caliber — particularly if you believe there’s still a bit of untapped upside in the former second-round pick and top prospect — but the Yankees would be on the hook for a good bit more than that due to their luxury tax status.
As of this writing, Keller has about $5.89MM of this year’s salary yet to be paid out. Add that to his future salaries and he’s still owed about $60.39MM over the next three-plus seasons. The Yankees would be taxed at a 110% clip on the roughly $17.8MM annual value of that remainder — assuming they remain in the top tier of luxury penalization moving forward, which seems like a good bet.
RosterResource projects the Yankees with about $187MM of luxury obligations in 2026, and that’s before factoring in arbitration raises for Jazz Chisholm Jr., Anthony Volpe, Fernando Cruz, Schmidt and Gil. Keller would add another $17.8MM to that number, and the Yankees will be in the market for help at third base, center field and in the bullpen this winter (depending on their trade deadline activity, of course). Each of Cody Bellinger, Trent Grisham, Devin Williams and Luke Weaver is a free agent in a few months. Even if the Yankees were able to drop down into only the third tier of penalization, they’d still pay a 90% tax on Keller’s remaining annual value.
If the Pirates do move Keller, they’ll presumably be most motivated by MLB-ready position players. Pittsburgh is deep in intriguing young arms (and just added another, Seth Hernandez, with the sixth overall pick in the 2025 draft) but hasn’t had much success in terms of developing young hitters. That’s not to say they’d have no interest in further stockpiling young pitching, but their aim over the next couple weeks is surely to add at least a few young hitters of note to help bolster a stagnant offense that ranks last in the majors in runs scored, home runs and slugging percentage.