Offseason In Review: New York Yankees

The Yankees found themselves in the rare position of being outbid by the Mets for the top free agent. They responded with multiple lesser but still significant pickups, including an eight-year deal to add a top-of-the-rotation arm.

Major League Signings

• LHP Max Fried: Eight years, $218MM
• 1B Paul Goldschmidt: One year, $12.5MM
• RHP Jonathan Loáisiga: One year, $5MM (including buyout of '26 club option)
• LHP Tim Hill: One year, $2.85MM (including buyout of '26 club option)

2025 spending: $52.35MM
Total spending: $238.35MM

Option Decisions

• RHP Gerrit Cole rescinded decision to opt out of remaining four years and $144MM on his nine-year deal
• Team declined $17MM option on 1B Anthony Rizzo in favor of $6MM buyout
• Team declined $5MM option on RHP Lou Trivino
• Team exercised $2.5MM option on RHP Luke Weaver

Trades and Claims

• Traded LF Taylor Trammell to Astros for cash
• Traded C Carlos Narváez to Red Sox for minor league RHP Elmer Rodriguez-Cruz and international bonus pool space
• Acquired RHP Devin Williams from Brewers for LHP Nestor Cortes, 2B Caleb Durbin and cash ($2MM)
• Acquired CF Cody Bellinger and cash ($5MM) from Cubs for RHP Cody Poteet
• Acquired RHP Fernando Cruz and minor league C Alex Jackson from Reds for C Jose Trevino
• Acquired RHP Michael Arias from Cubs for cash
• Claimed RHP Allan Winans off waivers from Braves (later outrighted off 40-man roster)
• Claimed RHP Roansy Contreras off waivers from Orioles (later lost on waivers back to Baltimore)
• Claimed SS Braden Shewmake off waivers from Royals
• Claimed RHP Owen White off waivers from Reds (later lost on waivers to White Sox)
• Claimed LHP Brent Headrick off waivers from Twins

Notable Minor League Signings

• Colten Brewer, Carlos Carrasco, Brennen Davis, Geoff Hartlieb, Ronaldo Hernández, Brandon Leibrandt, Tyler Matzek, Pablo Reyes, Wilking Rodríguez, Dominic Smith, Andrew Velazquez, Rob Zastryzny

Extensions

• None

Notable Losses

• Juan Soto, Gleyber Torres, Clay Holmes, Nestor Cortes, Tommy Kahnle, Jose Trevino, Anthony Rizzo (still unsigned), Alex Verdugo, Jon Berti (non-tendered), Tim Mayza (non-tendered), Cody Poteet, Carlos Narváez, Caleb Durbin, Lou Trivino

The Yankees' season ended with a blown five-run lead in the World Series Game 5 clincher. The front office didn't have much time to think about that defeat. They faced a number of crucial decisions within the opening days of the offseason.

Some of those were straightforward. They exercised a $2.5MM option on Luke Weaver while moving on from Anthony Rizzo and Lou Trivino. They exercised their option on manager Aaron Boone, a precursor to the two-year extension he would sign early in Spring Training. They made the qualifying offer to Juan Soto. The biggest question of the offseason's first week: would Gerrit Cole test the market?

The ace had to decide whether to opt out of the remaining four years and $144MM on his nine-year free agent deal. If he triggered the opt-out, New York could override it by exercising a $36MM club option covering the 2029 season. Cole took his decision to the wire before deciding to opt out. The Yankees balked at the option. For a day, it looked like Cole would be one of the biggest risk-reward plays on the open market.

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