If you listen too closely to the early comments, you might get the impression that the Yankees are not too confident about their chances of retaining superstar slugger Juan Soto, but that’s probably not the case.
Owner Hal Steinbrenner’s comments that the current $301 million payroll isn’t “sustainable” have some thinking he isn’t necessarily confident about keeping Soto, but the bigger message from Steinbrenner was how much they like Soto, how much they want to keep him, and perhaps most importantly, how much money it will take off the books.
With Gleyber Torres, Alex Verdugo and Clay Holmes becoming free agents and Anthony Rizzo’s club option on the line, the team has plenty of flexibility, having reduced its $225 million budget from the $255 million it began with last winter.
Free agency is unpredictable, and while a number of big-city teams could be competing for the 25-year-old hitter of the generation (I still prefer “centurion” to agent Scott Boras’ new term), the Yankees seem to think their biggest rival might be the Mets (we’re just guessing, but the Yankees probably have their own guesses).
The Yankees may also be considering their available depth somewhat limited by record-high projected salaries for position-specific players, and they appear prepared to repeat Aaron Judge’s $40 million salary, though he’s rumored to be asking more given his age and remaining prime years.
The Yankees have the advantage of long history, deep roster and being based in the city, so it goes without saying that Soto’s experience in the Bronx in 2024 is extremely good (but then again, that’s unlikely during the season; Soto has turned down seven offers so far).
Either way, it’s best not to read too much into public announcements. Don’t worry about the Yankees, even if $300 million or more is not sustainable. Unlike the current Mets, Steinbrenner’s team is profitable. Their books aren’t public, but it’s rumored they’re a bit profitable. This is despite them having the third-highest payroll in MLB, paying a lot of taxes (about $50 million), revenue sharing and a host of other expenses.
If you’re saying Steinbrenner doesn’t think such a big salary is worth it without a recent World Series win, then there’s certainly a case to be made. That said, the Yankees are batting in the 1000s with big contracts. Judge and Gerrit Cole are both clearly deserving of record salaries. And remember, Steinbrenner understands the value of a signature brand and was ultimately the one who did the most to keep Judge. So don’t take anyone’s early public comments too seriously or make too much of a fuss.
