The Yankees’ needs as the trade deadline looms aren’t exactly a well-kept secret. Gerrit Cole had Tommy John surgery before the season. Clarke Schmidt looks headed for the same fate. Luis Gil still hasn’t pitched due to a lat strain, and Ryan Yarbrough landed on the injured list late last month as well. DJ LeMahieu was released this morning in the wake of Jazz Chisholm Jr.’s move back to second base. Half a bullpen’s worth of relievers are on the injured list.
Given that slate of injuries and poor performance, it’s not a surprise that general manager Brian Cashman made clear when addressing the media yesterday that he plans to pursue upgrades in the rotation, in the bullpen and in the infield (link via Brendan Kuty of The Athletic). Pitching was highlighted as a particular focus.
“Whether it’s bullpen guys or starting pitchers, it’s just all of it,” said the GM. “That’s the area. We have people that are capable, but I think it also needs to get some help.”
Yankees starters rank eighth in the majors with a collective 3.69 ERA, but that includes 78 2/3 innings of 3.32 ERA ball from Schmidt, whose season is very likely over. It also includes 40 innings of 3.83 ERA ball from Yarbrough, who’s on the shelf due to an oblique strain. The Yankees have gotten terrific performances from high-profile free agent additions Max Fried and Carlos Rodon, but rookie Will Warren has a 4.70 ERA in 19 starts and fellow prospect Cam Schlittler just made his MLB debut yesterday. Veteran Marcus Stroman only recently returned from the injured list and has a 7.45 ERA in five starts (albeit with better results post-injury than pre-injury).
In the bullpen, the Yankees have lost Fernando Cruz, Mark Leiter Jr., Jake Cousins and Yerry De los Santos within the past three weeks. Cousins’ season is over before it truly began, as he’ll require Tommy John surgery. Cruz has a Grade 2 oblique strain and is looking at a long absence. Leiter has a stress fracture in his fibula. While Cousins hasn’t pitched this season due to his injuries, the other three have combined for 87 1/3 innings of 3.30 ERA ball with 21 holds and four saves.
The need at one infield position has been apparent since the offseason. Chisholm can play both third base and second base but is a better defender and more comfortable at the latter. He voiced as much recently while still being careful to make a team-first, “wherever they need me” caveat. The Yankees moved Chisholm from the hot corner back to second base and designated LeMahieu for assignment yesterday. LeMahieu, whom Boone suggested is not physically capable of handling third base right now, has seen his glovework at second base decline as well. He was released this morning.
Chisholm should be a plus all-around option at second base, but there’s no such certainty at third base. Oswald Peraza is a former top prospect and a sound defender, but he’s hitting .152/.220/.254 on the season. Jorbit Vivas, recalled when LeMahieu was designated, has slashed .156/.255/.267 in 53 major league plate appearances and .286/.409/.393 in Triple-A. Backup catcher J.C. Escarra has logged two games at third base as well but isn’t a frequent option over there. The Yankees could use some help and have already been linked to Ryan McMahon, Isiah Kiner-Falefa and others.
Any acquisitions the club makes will count against an ominous financial backdrop. The Yankees are third-time tax payors in the top penalty bracket, meaning they’re paying a 110% tax on the average annual value of any incoming players. That’s on top of said player’s actual salary.
For instance, Sandy Alcantara is perhaps the most oft-speculated name on the starting pitching market, but he’s making $17MM this year and guaranteed another $19MM beyond the season. He’d cost the Yankees $12.5MM for the final two months of this season alone, plus next year’s $17MM salary, any subsequent taxes, and at least a $2MM buyout on a 2027 option. Yankees fans frequently ask about Jacob deGrom in the chats we host at MLBTR, but deGrom has a $37.85MM AAV on his remaining contract and a $40MM salary in 2025. He’d cost the Yankees a ridiculous $27.1MM just for the final two months of the season, before even considering the $75MM he’s owed in 2026-27 (and any taxes they’d pay on that sum) and/or his full no-trade clause.
The extent to which ownership is willing to further bump payroll remains unclear. The Yankees ran up against some clear financial limitations late in the most recent offseason. Managing partner Hal Steinbrenner has publicly and famously indicated that he doesn’t think a $300MM payroll is sustainable on an annual basis. The Yankees aren’t far from that threshold right now. Cashman said yesterday that Steinbrenner has told him to present any and all scenarios, regardless of cost, and cautioned not to assume that a player or players are too expensive. Those decisions will be made by ownership on a case-by-case basis.