How Can the Yankees Pivot After Losing Juan Soto?

The New York Yankees’ nightmare scenario unfolded Sunday night, as superstar outfielder Juan Soto bolted to the cross-town rival New York Mets on a historic 15-year, $765 million deal.

According to Jon Heyman of the New York Post, the Yankees’ final offer was $760 million over 16 years—far more than most expected, especially after owner Hal Steinbrenner called the team’s payroll “unsustainable" in May.

Now, for the first time since Robinson Canó left in December 2013, the Yankees must shift to Plan B.

That offseason, the Yankees responded by adding multiple high-profile free agents on sizable contracts—Jacoby Ellsbury (seven years, $153 million), Brian McCann (five years, $85 million), Carlos Beltrán (three years, $45 million), and Masahiro Tanaka (seven years, $155 million). The plan proved to be a bust, as the contracts aged poorly, aside from Tanaka, and the Yankees finished 84-78 the following season.

However, it is important to note that the roster Soto leaves behind is far stronger than the 85-77 team Canó walked away from. Instead of a 40-year-old Derek Jeter and Ichiro Suzuki, the Yankees have 2024 AL MVP Aaron Judge, Gerrit Cole, Giancarlo Stanton, Anthony Volpe, Jazz Chisholm Jr., two of this year’s AL Rookie of the Year finalists, and others to build around.

That said, some of the core pieces are already in, or approaching, their mid-30s. If the Yankees intend to give this group another shot at a World Series in a wide-open American League, now is the time to allocate the money they had set aside for Soto. Below are some potential splashy additions they could still pursue:

Pitching Free Agents: LHP Max Fried, RHP Corbin Burnes, RHP Roki Sasaki, RHP Jack Flaherty, LHP Sean Manaea, RHP Walker Buehler, LHP Tanner Scott, RHP Jeff Hoffman

The Yankees have reportedly held Zoom meetings with both Fried and Burnes, and all signs point to mutual interest with Fried. USA Today’s Bob Nightengale reported Sunday that if Soto chose the Mets, the Yankees could enter a bidding war with the Boston Red Sox for Fried. That scenario is now a real possibility.

Sasaki, the 23-year-old ace from Japan, was officially posted Monday, opening his 45-day window to sign with an MLB team. He stands to be one of the biggest bargains in free agency, as his contract will be a minor league deal, subject to the international signing bonus pool.

The 2024 signing period ends Sunday, and the 2025 period opens on January 15, with team pools ranging from $7.56 million to $5.15 million. Also on that date, teams can trade for additional pool allotments in $250,000 increments but can only add up to 60% of their initial allotment.

In addition to starting pitchers, the Yankees could strengthen the back end of their bullpen by pursuing Scott, Hoffman, or both.

Position Player Free Agents: 3B Alex Bregman, 1B Pete Alonso, 1B Christian Walker, OF Anthony Santander, OF Teoscar Hernández, SS/2B/3B Ha-Seong Kim, 2B Gleyber Torres

One top “Plan B” position player fell off the board before the Yankees knew Soto’s final decision: Willy Adames, who signed a seven-year, $182 million deal with the San Francisco Giants.

After losing Soto, declining Anthony Rizzo’s club option, and showing little-to-no urgency in re-signing Gleyber Torres at second base, the Yankees have clear needs in the outfield, middle infield, and first base.

According to USA Today’s Bob Nightengale, the Yankees are expected to make a “strong push” for Christian Walker, whom they had shown interest in earlier this offseason. On paper, the 34-year-old would significantly improve both the club’s offense and defense, having earned three Gold Gloves and posted a 120 wRC+ over the past three seasons.

MassLive’s Chris Cotillo reported Saturday that the Red Sox and Yankees are competing with the Los Angeles Dodgers for outfielder Teoscar Hernández, who posted a .931 OPS against New York in the World Series. MLB Network’s Jon Morosi added Monday that the Yankees, Red Sox, and Toronto Blue Jays all have strong interest in switch-hitting outfielder Anthony Santander, who slugged 44 home runs for the Baltimore Orioles this past season.

Pete Alonso and Alex Bregman are expected to command the largest financial commitments in terms of total years and guaranteed money. While both come with some risk, adding fan favorites from the Mets and Houston Astros could be an intriguing way for Steinbrenner and GM Brian Cashman to exact some revenge on their rivals.

Trade Targets: OF/1B Cody Bellinger, LHP Garrett Crochet, 3B Nolan Arenado, LHP Jordan Montgomery

The Yankees are one of three teams that have recently checked in on Cody Bellinger, who could fill a need in either the outfield or at first base. Bellinger is guaranteed $27.5 million this year, plus an additional $5 million if he opts out of the final year of his deal next offseason, which could complicate any potential trade.

According to MassLive’s Chris Cotillo, the Yankees are also believed to be in on Chicago White Sox All-Star Garrett Crochet. The 25-year-old left-hander posted a 1.07 WHIP and 12.9 K/9 rate in his first year as a full-time starter, and with two more full seasons of club control, acquiring him would likely require a significant return.

Nolan Arenado and Jordan Montgomery are both coming off down seasons but could make a substantial impact come October if they land in the right spot. Arenado, an eight-time All-Star and 10-time Gold Glove winner at third base, has long been one of the game’s elite players. Montgomery, a former Yankee, played a major role in the Texas Rangers’ 2023 World Series run.

Arenado is set to make $21 million in 2025, $16 million in 2026, and $15 million during his age-36 season in 2027. Montgomery is owed $22.5 million in the final year of the two-year deal he was forced to settle for last offseason, a signing that Arizona Diamondbacks owner Ken Kendrick called a “horrible decision” after Montgomery posted a 6.23 ERA in 117 innings.

If the Yankees strike out on Plan B this winter, they could set their sights on the headliners of next offseason’s free-agent class: Blue Jays slugger Vladimir Guerrero Jr. and Astros star outfielder Kyle Tucker.