Yankees made long-term offer of $150 million to a key man, but the lefty is seeking contract of $270 million.

Don’t completely rule out the possibility of the New York Yankees making a significant move this offseason to bolster their pitching rotation, but it’s going to be challenging. MLB insider Buster Olney from ESPN reports that the Yankees have put forth a longstanding offer for Blake Snell, a multiple-time Cy Young winner and the current titleholder, but they’re far from meeting his desired terms.

Snell’s asking price might decrease as he remains unsigned into the first official week of spring training. The Yankees are reportedly holding out for this possibility, though they would face a hefty 110 percent tax on every dollar of his contract, effectively doubling the cost, as noted by Olney. While Olney sees Snell as a potentially sensible short-term investment for the Yankees, he doubts the likelihood of Snell ending up in New York due to the tax implications.

Report: LHP Blake Snell has offer from Yankees | Reuters

Earlier reports indicated that the Yankees offered Snell a long-term contract totaling $150 million, but Snell is reportedly seeking a deal closer to $270 million. Despite this, the Yankees recognize the urgency of their situation, knowing that their championship window could close rapidly, especially with the uncertain future of superstar outfielder Juan Soto, who is expected to enter free agency next year with a projected value of around $600 million. This puts pressure on the Yankees to act decisively to end their 15-year title drought.

Snell would be an attractive addition for the Yankees, potentially elevating them to serious World Series contenders in 2024, particularly if it turns out to be Soto’s only season in the Bronx. Pairing Snell with ace Gerrit Cole atop their rotation could significantly bolster their chances. However, the 110 percent tax complicates matters significantly, making such a move difficult for the Yankees.

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