The New York Yankees made a last-ditch effort to acquire Blake Snell, a two-time Cy Young Award winner, for their pitching rotation. However, Snell chose to sign a two-year contract worth $62 million with the San Francisco Giants instead.
According to MLB insider Bob Nightengale of USA Today, the Yankees had initially offered Snell $150 million last month but withdrew their offer and did not rejoin negotiations on Sunday.
It seems that Snell’s priority was to secure the highest possible average annual value (AAV) for his contract, with intentions to explore free agency again in the near future. Jon Heyman of the New York Post reported that Snell’s new contract includes an opt-out clause.
The New York Yankees ‘Renewed Talks’ for Snell in the Past Few Days
The Yankees had been linked with Snell throughout most of the offseason, especially with increased speculation due to an injury sidelining their top pitcher, Gerrit Cole, for several weeks. However, the Yankees’ current payroll situation meant that any significant annual average value (AAV) for Snell would incur a tax burden they couldn’t manage.
Recent discussions between the Yankees and Snell’s agent, Scott Boras, didn’t progress towards a deal despite efforts to explore various avenues to mitigate the hefty tax implications. According to Heyman’s report, although both parties attempted to devise creative solutions to reduce the tax burden, Snell’s acquisition would have been financially challenging for the Yankees, given their position as one of the three teams exceeding the fourth-tier tax threshold with limited options to trim expenses.
Brendan Kuty from The Athletic pointed out that if the Yankees were to match the Giants’ deal for Snell, it would have resulted in a total cost of $96.1 million after factoring in the penalty.
The New York Yankees Continue to Seek Pitching Depth
Snell’s addition would have greatly benefited the Yankees, especially considering their current rotation uncertainties, particularly with Cole sidelined. With hopes pinned on rebounds from Carlos Rodón, Nestor Cortes, and Clark Schmidt, all of whom had challenging seasons in 2023 due to injuries, the team also brought in veteran Marcus Stroman, who posted a 3.95 ERA with the Chicago Cubs last season. However, the rest of the rotation relies on prospects like Cody Poteet, Clayton Beeter, Luis Gil, and veteran Luke Weaver to fill the remaining spots.
Despite these efforts, the rotation still appears far from being World Series caliber, and the team acknowledges the ongoing need to address this issue even with Snell no longer available. According to Heyman, the Yankees will persist in seeking starting pitching options, although their choices are limited. They are particularly uncertain about Jordan Montgomery’s interest in returning to the team. Trade discussions for players like Jesus Luzardo from the Marlins haven’t gained traction, and the available starters on the market mainly offer depth, with notable names like 2023 All-Star Michael Lorenzen and Mike Clevinger.
None of the remaining candidates possess the track record of Snell, who clinched his second Cy Young Award after leading the majors with a 2.25 ERA in the 2023 season. He also earned recognition on the All-MLB first team.
