The New York Yankees, renowned for their readiness to spend lavishly on enhancing their team, have been somewhat reticent to aggressively pursue star pitchers Blake Snell and Jordan Montgomery in free agency. This caution stems from a pragmatic reason that has recently come to light.
As the New York Yankees gear up for the 2024 MLB season, with their players currently in Florida for spring training, there’s a collective hope within the organization for a significant turnaround following their fourth-place finish in 2023. The team boasts considerable potential in its roster.
The potential boost for the upcoming season lies in the health and performance of high-value pitcher Carlos Rodon and 2023 American League MVP Aaron Judge. Additionally, the acquisitions of All-Stars Juan Soto and Marcus Stroman in the offseason further fortify both the rotation and lineup.
Despite these improvements, there’s a prevailing sentiment that the Yankees still lack one key component to emerge as genuine title contenders in 2024.
The team is reportedly still considering the addition of either Blake Snell or Jordan Montgomery before the season begins, though their interest thus far has appeared tepid. This subdued enthusiasm is partly due to the considerable financial implications involved. According to The Athletic, the Yankees would face a substantial luxury tax penalty, significantly inflating the cost of any potential deal with Snell or Montgomery. For instance, a purported one-year, $40 million deal for Snell would effectively amount to $84 million due to the tax burden.
Before the offseason, the Yankees’ top brass indicated a reluctance to significantly increase their payroll, with hopes even of reducing it for the 2024 season. This reluctance underscores their hesitancy, as the penalty for exceeding payroll thresholds is already substantial, given the team’s current payroll of $290 million heading into 2024. The Yankees find themselves well beyond the threshold for multiple years, thereby compounding the penalty for any further payroll escalation.
