Yankees Projected to Whiff On All-Star Starter

It's getting late early for the Hot Stove as MLB prepares to pivot to spring training, but the New York Yankees still have time for a splash free-agent signing.

That's because two-time All-Star left-hander Framber Valdez remains on the open market.

However the former Houston Astros ace is projected to join one of the Yankees' American League East rivals.

"Valdez is the best starting pitcher remaining on the free-agent market and his representatives have been extremely quiet, operating under the radar in their negotiations for their client," The Athletic's Jim Bowden reports. "Most in the industry believe that he will eventually land with the Baltimore Orioles for fewer years than he anticipated at the beginning of free agency.

Market Analysis

"There are several other teams where he still fits, such as the San Francisco Giants, Detroit Tigers, Philadelphia Phillies and Atlanta Braves," Bowden added.

"Several of those teams either don’t have the budget to make the move or are waiting for his asking price to drop. One thing is for sure, he would be a complete difference maker for the Orioles and might be the final piece they need to get back to the postseason," Bowden concluded.

Arms Race

The Yankees have already seen a pair of division opponents upgrade their starting rotation this winter. Right-hander Dylan Cease signed a seven-year, $210 million contract with the Toronto Blue Jays while the Boston Red Sox traded for right-hander Sonny Gray and signed left-hander Ranger Suarez.

Boston Red Sox left-hander Ranger Suarez — Sep 21, 2025; Phoenix, Arizona, USA; Philadelphia Phillies starting pitcher Ranger Suarez (55) on the mound in the second inning inning against the Arizona Diamondbacks at Chase Field. Mandatory Credit: Allan Henry-Imagn Images | Allan Henry-Imagn Images

"With Ranger Suárez landing $130 million over five years in Boston, Valdez projects to get around six years and $180 million -- a deal that would vault the O's past the Dodgers and Blue Jays as baseball's top free agent spenders," ESPN's Paul Hembekides reports.

While signing Valdez would be a significant upgrade to the starting rotation, it's fair to ask if the 32-year-old makes sense in the Bronx.

Expensive Rotation

After all, the Yankees have already sunk a ton of free-agent money into the starting rotation: Gerrit Cole (nine years, $324 million), Carlos Rodon (six years, $162 million) and Max Fried (eight years, $218 million).

While Cole and Rodon will be sidelined to start the 2026 season, both are expected to return to the rotation by midseason, as is right-hander Clarke Schmidt.

Add in arms like Cam Schlittler, Luis Gil and Will Warren, and it's safe to say signing Valdez would be a luxury.

And it's a luxury Yankees general manager Brian Cashman likely can't afford after spending big to re-sign outfielder Cody Bellinger, giving the former National League MVP a five-year, $162.5 million contract.

Would signing Valdez make the Yankees a better club? Absolutely.

Will New York sign the best player remaining in free agency? Unlikely.

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