New York Yankees Must Explore Radical Ideas Beyond Juan Soto Reunion

The New York Yankees are experiencing feelings of disappointment and embarrassment after their poor performance in the 2024 World Series . Besides an overdependence on analytics and a flawed roster, the Yankees were devoid of fundamentals as evident in the physical and mental errors that were exacerbated throughout the postseason. After spending over $300 million on payroll, the Yankees will be a third-time Competitive Balance Tax payor under the current collective bargaining agreement and assessed with a projected penalty of $68 million according to Cot's Baseball Contracts. As the offseason officially begins for Major League Baseball, the Yankees find themselves in a precarious position regarding outfielder Juan Soto's free agency. While they will undoubtedly put maximum effort into their attempt at re-signing the 26-year-old Soto to a long-term contract, expect the Yankees to embrace a mindset that prioritizes fiscal responsibility over impulsive spending.

The pursuit of Soto will be a long and arduous process orchestrated by agent Scott Boras. The 72-year-old Boras is a titan in his profession who has been subjected to criticism in recent years regarding prolonged negotiations that have produced mixed results for some of his high-profile clients. It is assumed that Boras will emphasize the importance of relationships, a winning culture and a contract worth at least $600 million in value over a decade when it comes to Soto. His recent handling of right-handed pitcher Gerrit Cole's opt-out clause with the Yankees has raised questions regarding the type of strategy Boras will implement in contract negotiations for Soto.

Marriage Between Gerrit Cole And The Yankees

Cole exercised the opt-out clause in his nine-year, $324 million contract three days after the conclusion of the 2024 World Series. According to the terms of his contract, the Yankees could void the opt-out clause by adding an additional year to the 2023 American League Cy Young Award winner's contract at $36 million for his age-38 season. Instead, Cole and the Yankees agreed to remain together and will engage in conversations regarding a contract extension later while receiving approval from both the league and labor union pertaining to the new arrangement. In five seasons with the Yankees, Cole has posted a 59-28 record over 125 regular season starts while striking out 915 batters over 759 innings according to Baseball-Reference. In essence, Cole is returning to his original contract to finish out the final four years valued at $144 million with an average annual value of $36 million for Competitive Balance Tax purposes.

Cole enjoys a harmonious relationship with the Yankees, but did Boras misread the situation by exercising the opt-out clause? The timing was not ideal as the 34-year-old right-handed pitcher made his first major league start this past season on June 19th after suffering from nerve inflammation and edema in his right elbow. What if the Yankees decided to save the money and allow Cole to pursue free agency? If this occurred, did Boras believe Cole could receive a five-year contract valued at $200 million on the open market? While the Yankees are very comfortable with Cole being the ace of their pitching staff, a $180 million commitment over the next five years was a financial concern given how judicious they must be in their pursuit of Soto.

Soto will command an extraordinary amount of attention and was the only ball player the Yankees extended a qualifying offer. A one-year, $21.05 million contract will be declined by Soto before the acceptance deadline of November 19th at 4:00 PM ET and viewed as a mere formality. If he signs elsewhere, the Yankees will receive compensation in the form of a draft pick after the fourth round since they are projected to be a Competitive Balance Tax payor. As expected, the Yankees decided not to extend a qualifying offer to free agent second baseman Gleyber Torres as it would represent a $6.85 million increase from his $14.2 million 2024 salary for a ball player who has become a defensive liability as evident in a variety of advanced metrics.

Can The Yankees Walk Away From Juan Soto?

A radical idea could be the Yankees walking away from negotiations with Boras regarding Soto once it becomes clear that neither side will agree on contract length and value. Instead, they could quickly pivot to other free agents represented by Boras such as first baseman Pete Alonso and third baseman Alex Bregman. One thought would be to move Jazz Chisholm, Jr. back to second base while solidifying two defensive vacancies in the infield. Bregman's postseason experience and defense would be viewed as an upgrade at third base after winning his first Gold Glove Award this past season. Alonso's value would come in the form of prodigious power and achieving success while playing in Queens for the New York Mets.

The Yankees should seek inspiration from three free agent signings in December 2008 that totaled $423.5 million for the likes of right-handed pitcher AJ Burnett, left-handed pitcher CC Sabathia and first baseman Mark Teixeira. Along with pursuing Alonso and Bregman if the Yankees pivot away from Soto, right-handed pitcher Corbin Burnes would be a welcomed addition. A former Cy Young Award winner, just imagine how devastating it would be for opponents to face both Burnes and Cole back-to-back in the Yankees' pitching rotation.

The beauty of free agency begins with its unpredictability and the rights of ball players to sell their services to the highest bidder in an open market. The New York Yankees might have to quickly adjust their offseason plans if Juan Soto's contract demands become far too excessive in nature. Instead of wasting valuable time where Scott Boras could use the Yankees as leverage in conversations with other ball clubs regarding Soto, they could turn their attention to other high-profile free agents and spend less money while addressing multiple areas of concern. A one-year investment of $31 million provided a favorable return on investment, but the Yankees didn't win the 2024 World Series and are still a flawed ball club even if they re-sign Soto to a long-term contract with an average annual value exceeding $50 million.