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The New York Yankees managed 94 wins in the regular season but failed to win their division, losing to the Toronto Blue Jays on a tiebreaker. While the Blue Jays have already made their big splashes this offseason to get better, Yankees owner Hal Steinbrenner's "ideal" payroll situation could come true.
MLB analyst Michael Kay reported on his eponymous show on ESPN that the Yankees are looking to limit their payroll to under $300 million for next season.
“There’s a good chance, everybody, that the Yankees’ intent at this point on Dec. 4 is to in fact be under the $300 million threshold,” Kay said on Thursday.
The Yankees, taking into account arbitration increases, are currently around $278 million in payroll. According to Kay, the $22 million difference to $300 million will not be enough to make a better team.
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“And if you’re going to improve last year’s team, you can’t do that (cut payroll to be under $300 million). You can’t do it. And that’s why, if in fact it’s true that they are not going over $300 million — I have to wait and see if that’s true because I can’t believe that’s the marching orders, because if it’s the marching orders, they cannot recreate a 94-win team.”
Kay reflected that some of the biggest contracts in the Yankees' payroll with annual average values are virtually untouchable. Aaron Judge ($40 million), Gerrit Cole ($36 million), Giancarlo Stanton ($25 million CBT), Max Fried ($27.3 million), and Carlos Rodon ($27 million) have no chance of being traded, leaving them unable to create room to add free agents
Michael Kay fears that Yankees won't be able to get Cody Bellinger and Kyle Tucker
The Yankees have been closely linked to marquee outfielder free agents, Cody Bellinger and Kyle Tucker. A long-term deal for either of the players would make it impossible stay within their limit.
“If they intend to stay under $300 (million), they are not getting (Cody) Bellinger, they are not getting (Kyle) Tucker, they are not going to be able to make any significant move,” Kay said.
The broadcaster also noted that while pitching remains a strong suit for the team, the lack of support for Aaron Judge from the lineup could end up damaging their chances.
The Yankees headed into the 2026 season with a $304 million payroll, leaving them fourth behind the Los Angeles Dodgers, New York Mets and the Philadelphia Phillies.
