New York Yankees owner again signals major budget cuts on the horizon: 4 likely payroll casualties, including Anthony Rizzo
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New York Yankees boss Hal Steinbrenner is again beating the drum of making cuts to the team’s payroll in the near future.
Long-time Pinstripes boss George Steinbrenner was the architect of the “evil empire.” Under his leadership, the organization went from a legendary franchise to the most wealthy club in the league, and one willing to throw around their financial weight. In his mind, making a little less was worth it to win and keep the brand as strong as possible.
However, his sons are taking a different approach to running the most well-known baseball franchise in the world. While they are willing to spend big to remain competitive, they run the organization like the business it is, and the goal with any business is to increase profits while decreasing costs.
While they don’t have the highest payroll in the league — they are third — Steinbrenner is not happy with the over $300 million payroll they have (a team record) and is not interested in shelling out that kind of money much longer.
“I’m gonna be honest, payrolls at the levels we’re at right now are simply not sustainable for us financially,’’ Steinbrenner said this week at the MLB headquarters (h/t New York Post). “It wouldn’t be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay.’’
His comments are all the more interesting since he and the front office are dead set on re-signing outfielder Juan Soto this winter to what could be a deal worth around $500 million. To do so, and try to decrease payroll, the team is likely to cut loose some notable players on the current roster. With that in mind, here are four players who may not be around next season.
4 players the New York Yankees could cut loose after 2024 to pay for Juan Soto contract
Kim Klement Neitzel-USA TODAY Sports
Anthony Rizzo
Anthony Rizzo has a $17 million team option for next season. The first baseman has been a solid player over his two and half seasons with the club but with him set to turn 35 later this year and DJ LeMahieu being a player that could be moved over to first, Rizzo’s money could definitely be used to pay Soto’s massive contract in the years ahead.
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Gleyber Torres
Gleyber Torres is no longer the player he once was, and that may be very good news for New York. While it is disappointing that he peaked during his first two seasons in the league, the $14 million he earned from arbitration in the final year of his contract can easily be slashed next season and the Yankees have the in-house options to replace him.
Nestor Cortes
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Nestor Cortes has been a worthwhile member of the Yankees rotation for the last few years. However, he is set to hit free agency this winter and will be looking for a big pay raise on the $3.9 million he is making in 2024. With the team already paying Gerrit Cole, Carlos Rondon, and Marcus Stroman big money, they are unlikely to hand out another huge contract to a fourth pitcher in the offseason. Cortes will certainly be a casualty of the team’s cost-cutting measures.
Giancarlo Stanton
In a perfect world, getting Giancarlo Stanton off the payroll would be the preferred way for the New York Yankees to cut costs. His massive contract and the three guaranteed years still left are a huge balloon pulling the organization’s payroll above the tax threshold. With him having another disappointing season the team could be bold enough to give up assets in an attempt to get him off the roster and save a boatload of money over the next few years.
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