The New York Yankees have not held back when it comes to making purchases to bolster their squad. On May 22, however, owner Hal Steinbrenner called the Yankees’ $300 million payroll “not sustainable” during the owners meetings.
According to the New York Post, Steinbrenner stated, “I’m gonna be honest, payrolls at the levels we’re at right now are simply not sustainable for us financially.” “Considering the luxury tax we must pay, it wouldn’t be sustainable for the vast majority of ownership [groups].”
The Yankees will need to make a significant financial choice this winter in light of Juan Soto’s free agency. Soto won’t be inexpensive. Steinbrenner will need to make some difficult choices if he wants to maintain Soto and cut salary.
Rizzo’s Contract.
Kirschner stated, “The Yankees have a $17 million club option on Anthony Rizzo in 2025.” “A $6 million buyout will be due to him if it is rejected. The Yankees’ fictitious salary would thus be $237.12 million if they decide to take it up.
A $40 million, two-year contract was inked by Rizzo prior to the 2023 campaign. Rizzo had trouble in 2023, but he was still recovering from an injury.
After missing most of the previous season due to injuries, Rizzo only hit.244 that year. According to a piece published on August 3 by MLB.com’s Bryan Hoch, Rizzo was diagnosed in 2023 with “post-concussion syndrome, which the club believes stems from a May 28 collision with the Padres’ Fernando Tatis Jr.”
Effect of Soto’s Contract on Yankees Payroll
Steinbrenner declared, “I don’t think I should have to have a $300 million payroll to win a championship.”
Spotrac indicates that the Yankees’ current salary is little above $315 million. It’s likely that Soto’s deal will rank among the biggest in history. It seems obvious that the Yankees will have to take some action to reduce their salary.
Aside from Soto, the Yankees will lose a few key players to free agency. Following the season, Caleb Ferguson, Jonathan Loáisiga, Clay Holmes, Alex Verdugo, Tommy Kahnle, and Glayber Torres will all be free agents.
Rizzo is one of many difficult decisions the Yankees will have to face; whatever it takes to sign Soto will probably need to be more than the 15-year, $440 million agreement he turned down from the Washington Nationals, according to MLB.com’s Jessica Camerato.
