The New York Yankees aimed to assemble one of the most intimidating batting lineups in Major League Baseball by acquiring Juan Soto from the San Diego Padres in a significant trade during the offseason. With Soto, a four-time Silver Slugger Award winner and three-time All-Star widely regarded as one of the premier hitters of his era, the Yankees anticipate a substantial enhancement to their lineup, especially with him batting ahead of their franchise star Aaron Judge this season. However, as per The Athletic’s senior MLB writer Britt Ghiroli, Soto’s impending free agency poses a financial challenge for the Yankees. Ghiroli noted during a discussion on SNY that owner Hal Steinbrenner has prioritized payroll management, casting doubt on the Yankees’ ability to afford Soto’s projected annual salary, which could exceed $40 million. Ghiroli expressed skepticism regarding the Yankees’ capacity to retain a player of Soto’s caliber under their current financial constraints.
The New York Yankees Will Hit Payroll Limitations on Extending Juan Soto
Ghiroli further noted that Soto has his sights set on establishing a new benchmark for the average annual value (AAV) of an MLB contract, a goal that would present logistical challenges given the Yankees’ existing financial commitments. These commitments include substantial sums allocated to Aaron Judge ($40 million in 2025), Gerrit Cole ($36 million in 2025), and Giancarlo Stanton ($32 million in 2025). “Soto is driven to achieve the AAV record,” Ghiroli remarked, emphasizing the long-term financial obligations already in place for key Yankees players.
The Yankees have already contributed to Soto’s record-setting by agreeing to a $31.5 million salary for 2024, the highest ever for a player to avoid arbitration. While theoretically capable of affording any player, the Yankees appear hesitant to incur significant tax penalties associated with escalating their payroll beyond 2024. These penalties were cited as the primary factor preventing the team from securing star pitcher Blake Snell during the recent offseason, highlighting the organization’s cautious approach to financial management amidst escalating player salary demands.
“The Yankees, with a projected $290 million payroll, face stringent luxury taxes should they pursue additional free agents,” Andy Lindquist noted for NBC Sports Bay Area. “Although the Yankees have exceeded the luxury-tax threshold on numerous occasions in the past, the latest collective bargaining agreement imposes severe penalties on teams that repeatedly surpass the limit.”
The New York Yankees Might Turn to Alex Bregman in 2025 Free Agency
Should the Yankees fail to secure Soto’s services after the current season, there are potentially more cost-effective alternatives in the market who possess strong batting abilities. One such candidate is Houston Astros third baseman Alex Bregman, with whom the Yankees have been associated in a possible free-agency showdown.
While Bregman may not match Soto’s offensive prowess entirely, he boasts two All-Star selections, a Silver Slugger Award, and two World Series championships in his repertoire.
Nevertheless, Soto still retains the opportunity to excel in the 2024 season to a degree that compels the Yankees to match competing offers in order to retain him for the future. If Soto propels the team toward their World Series aspirations, they might opt to maintain their lineup continuity into 2025 and beyond. However, if Soto performs admirably despite the team’s struggles, he could potentially price himself beyond the Yankees’ reach for a return after the current season.
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