“You’re going to plead poverty?” - MLB analyst tears into Yankees owner’s payroll comments as “absolute joke”

New York Yankees owner Hal Steinbrenner, in a video meeting with reporters on Monday, hinted that reducing the team's payroll could be ideal for the team, although the ownership isn't currently doing so. He suggested that despite $700 million in revenue, the Yankees hardly made a profit.

Steinbrenner's comments haven't sat well with the fan base and the New York media. On Tuesday, legendary radio host Mike Francesa, on his eponymous podcast, absolutely blasted Steinbrenner for trying to talk his way out of signing newer players by citing the revenue.

“[Seven-hundred million], and this is after they try to hide everything,” he said. “Remember, how many holding companies do the Yankees have? Listen, I don’t want to get into all of this stuff, but let’s be honest, Hal opened Pandora’s box.

"Owners would rather jump out of a building than ever let anybody order their books. They will never let anybody near their books. Why? Because they would sing a very interesting tune.”

As the Yankees are privately owned, they aren't required to declare all of their assets. However, their valuation, which is currently at $8.2 billion, was cited by Francesa.

“The idea that the Yankees don’t make money, I’m surprised he could actually say it with a straight face,” Francesa said. “You’re going to plead poverty?"

In the recent past, the biggest signings by the club have been Aaron Judge, who was signed to a ten-year $360 million deal in 2022, the highest annual average value for a player for a long-term contract, and Gerrit Cole's nine-year $324 million contract in 2019, the highest for a starting pitcher at the time.

Both contracts have since been surpassed. The Yankees did come close to signing Juan Soto at a record fee but were outbid by their crosstown rivals, the New York Mets.

Mike Francesa blasts Yankees for losing out to Dodgers

The Yankees are one of the most recognizable teams in all of sports. However, in the last few seasons, they have played second fiddle, like other teams, to the Los Angeles Dodgers, who have gone out of their way to secure the biggest superstars. In 2025, the Dodgers spent $350 million on their players, while the Yankees were third with $304 million.

“The Dodgers have made the Yankees look like an A-Ball outfit,” Francesa said. “They have allowed, and George [Steinbrenner] would have never allowed this, to take what the Yankees used to do. The Yankees ‘We are bigger. We are better. We spend more. We shop at Tiffany’s. We buy the best. We are the best.’

"That’s how the Yankees acted … They don’t act that way anymore. Now they’re satisfied when they make the playoffs. Why? Because their stadium is full. And their signage is up. And the sponsors are buying the signage. And the luxury boxes are rented. That’s how they judge the season.

The team requires a star cast behind Aaron Judge, and has been linked to players like Kyle Tucker and Cody Bellinger in free agency. However, if they are to manage their payroll, their World Series drought might continue.