The New York Yankees have the second-highest payroll in MLB this season, exceeding $305 million according to Spotrac. Principal owner Hal Steinbrenner has stated that maintaining such high payroll levels is financially unsustainable for the franchise.
“To be honest, payrolls at our current levels are just not financially viable for us,” he said at the owners’ meetings this week, as reported by the New York Post. “This wouldn’t be sustainable for most ownership groups due to the luxury tax we have to pay.”
Given these financial constraints and the team’s desire to sign Juan Soto to a massive contract, it appears the Yankees are ready to part ways with some current players. One key player likely to leave is two-time All-Star second baseman Gleyber Torres.
“This likely means Gleyber Torres, who is eligible for free agency this winter, won’t be returning next season,” wrote Yankees columnist Bob Klapsich for NJ Advance Media. “He will be replaced by emerging players from the Yankees’ farm system.”
Gleyber Torres Has Struggled in His Contract Year for the New York Yankees
Torres is on a one-year, $14.2 million contract with free agency on the horizon at season’s end. Despite strong seasons in 2018 and 2019, his offensive performance this year has dipped significantly.
He is hitting just .218/.295/.303 with three home runs and 52 strikeouts in 188 at-bats, compared to his career averages of .264/.332/.444. Despite his struggles, Torres is still expected to secure a substantial long-term contract given his previous success and defensive prowess, but it likely won’t be with the Yankees.
“As a young player approaching free agency for the first time next winter, Torres could have positioned himself for a highly lucrative multiyear deal,” Brendan Kuty reported for The Athletic. “He still has a chance, but he hasn’t helped his or the Yankees’ cause, which may require reassessing his playing time if he doesn’t improve.”
The New York Yankees Could Let Go of Several Players to Reduce Payroll
Ultimately, the Yankees’ payroll decisions next season will revolve around Soto, who is projected to earn a contract worth at least $500 million. If Steinbrenner intends to match other offers for Soto while reducing the team’s overall payroll, several players might be moving on.
“Gleyber Torres, Alex Verdugo, and Tommy Kahnle combine for $28.65 million in 2024 payroll,” Pete Caldera noted for NorthJersey.com. “All three are likely to leave as free agents.”
Young infielders Oswald Peraza and Oswaldo Cabrera are strong candidates to replace Torres at second base, or the Yankees might opt for other, more affordable options from their farm system or through transactions.
