Offseason Outlook: New York Yankees

The Yankees had another good season in 2025, but with the Yankees, good isn’t good enough. Going into 2026, they will undoubtedly be looking to reload as they continue trying to take advantage of having a superhuman Aaron Judge on the roster.

Guaranteed Contracts

• Aaron Judge, OF: $240MM through 2031
• Max Fried, LHP: $196MM through 2032 (includes $10MM to be paid in January of 2026, half of $20MM signing bonus)
• Gerrit Cole, RHP: $108MM through 2028
• Carlos Rodón, LHP: $81MM through 2028
• Giancarlo Stanton, OF/DH: $64MM through 2027 (includes $10MM buyout on $25MM club option for 2028; Marlins covering $30MM of remaining guarantee as part of trade)
• Ryan McMahon, 3B: $32MM through 2027

Other Financial Commitments

• Owe $15MM to released IF DJ LeMahieu
• Owe $1MM option buyout to released OF Aaron Hicks

Option Decisions

• Cody Bellinger, OF: will opt out of one-year, $25MM, taking $5MM buyout
• Club has $5MM option on RHP Jonathan Loáisiga with no buyout
• Club has $3MM club option on LHP Tim Hill with $350K buyout

2026 guarantees, assuming Hill’s option is picked up: $184MM
Total future commitments: $715MM

Arbitration-Eligible Players (service time in parentheses; projected salaries courtesy of MLBTR contributor Matt Swartz)

• Jazz Chisholm Jr. (5.075): $10.2MM
• David Bednar (5.073): $9MM
• Mark Leiter Jr. (5.031): $3MM
• Clarke Schmidt (4.148): $4.9MM
• Camilo Doval (4.071): $6.6MM
• Jake Cousins (3.091): $841K
• Ian Hamilton (3.081): $941K
• Luis Gil (3.073): $2.1MM
• Scott Effross (3.063): $800K
• Jake Bird (3.051): $1MM
• Oswaldo Cabrera (3.050): $1.2MM
• Fernando Cruz (3.035): $1.3MM
• Anthony Volpe (3.000): $3.9MM
• José Caballero (2.170): $1.9MM

Non-tender candidates: Leiter, Schmidt, Doval, Cousins, Hamilton, Effross, Bird, Cabrera

Free Agents

• Cody Bellinger, Paul Goldschmidt, Devin Williams, Trent Grisham, Luke Weaver, Amed Rosario, Ryan Yarbrough, Austin Slater, Paul Blackburn

The Yankees haven’t had a losing season since 1992. They have missed the playoffs just five times in the past 31 years. But the expectations in the Bronx are higher than that. It’s now been more than 15 years since the last parade.

There’s always pressure for the Yankees to compete but that title drought should create extra urgency. There’s also the ticking clock on Judge. He is still producing at an incredible level. Despite missing some time this year, FanGraphs credited him with 10.1 wins above replacement. But he can’t keep that up forever and will turn 34 in April. Key contributors like Giancarlo Stanton, Gerrit Cole, Max Fried and Carlos Rodón are also in their 30s, adding to the sense that winning needs to come sooner than later.

A lot of good things still happened in 2025. In spring training, the club lost Cole to Tommy John surgery and Luis Gil to a lat strain. Despite losing two rotation building blocks, the team dominated early. They were 35-22 through the end of May, giving them a 5.5 game lead in the American League East. But a summer swoon took some wind out of the sails, allowing the Blue Jays to take over the top spot in the East. Those two clubs kept battling and ended up with the same record, though the Jays were given the nod via tiebreaker. They would then face off head-to-head in the ALDS, with the Jays emerging victorious.

Going into 2026, there is still a lot of talent on the Yankee roster, though there are questions. The rotation should be strong in the long run, though that’s assuming improved health relative to now. There is certainly work to do in the outfield and bullpen, and maybe the infield too. There’s also the question of how much the club can throw its weight around financially.

Historically, the Yankees have often been the biggest-spending club in the league. In 2025, they were third, according to RosterResource. The Yanks were at $294MM, well behind the Dodgers and Mets, and just barely ahead of the Phillies. Owner Hal Steinbrenner seems to feel that he shouldn’t have to spend much more than $300MM, per Greg Joyce of The New York Post. The 2026 payroll is currently slated for $227MM, per RR. That gives the Yanks some breathing room even if they are going to be capped around $300MM, though that kind of powder can get used up pretty quickly when filling a roster with some notable holes. Is there enough pressure to push Steinbrenner beyond his comfort zone?