NEW YORK — The Houston Astros kicked off the new year by landing Japanese right-hander Tatsuya Imai. The deal could reach $63 million over three years. The Yankees watched from the sidelines.
New York was among the teams linked to the 27-year-old fireballer throughout the winter. Imai threw 98 mph in Japan. He earned three All-Star selections with the Seibu Lions. He recorded a sparkling 1.92 ERA in 2025 with 178 strikeouts in 163.2 innings.
The Yankees needed him. They did not sign him. Hal Steinbrenner’s spending freeze claimed another victim.
Astros swoop in with aggressive offer
Imai signed a three-year deal with opt-out clauses after each season. He will earn $18 million per year with an opportunity for $3 million more each campaign based on innings pitched thresholds at 80, 90 and 100 innings.
The contract has a base value of $54 million that can reach $63 million. It represents the largest average annual value for any Japanese pitcher in MLB history outside of Yoshinobu Yamamoto’s record $325 million deal with the Dodgers.
Houston missed the playoffs in 2025 for the first time in nine seasons after posting an 87-75 record. They responded by adding a front-line starter. The Yankees went 94-68, lost in the ALDS and have added depth pieces.
Agent Scott Boras praised his client during the Winter Meetings in Orlando.
“You have a 27-year-old pitcher who throws 98, 99,” Boras said. “Teams look at that and say, ‘Believe me, Imai wildest dreams I never expected someone to be available like that.'”
Yankees chose not to compete for Imai
New York was reportedly not seriously involved in the final bidding. The Post’s Jon Heyman reported the Yankees did not make a competitive offer.
Imai wanted a higher average annual value on a shorter-term deal with opt outs. The Astros gave him exactly that. Reports indicate Imai had longer-term deals with lower AAVs on the table but chose Houston’s aggressive structure.
The Yankees could have afforded this contract. They already have Gerrit Cole, Carlos Rodon and Max Fried on expensive deals. Adding another multi-year commitment apparently crossed an invisible line in the Bronx.
But here is the catch. If Imai succeeds in year one, he could opt out. The Yankees would have paid $21 million for one elite season. That was somehow unpalatable for a franchise that claims championship or bust as its standard.
Steinbrenner’s payroll comments haunt the franchise
Owner Hal Steinbrenner spoke to reporters in late November about the team’s financial direction. His words now look prescient and troubling.
“Would it be ideal if I went down [with the payroll]? Of course,” Steinbrenner said. “But does that mean that’s going to happen? Of course not. We want to field a team we know could win a championship.”
The Yankees spent $319 million on player payroll in 2025. Steinbrenner suggested lowering that number would be ideal. The franchise has eclipsed the competitive balance tax threshold in each of the past four seasons.
Los Angeles spent approximately $415 million in 2025 en route to back-to-back World Series titles. The Dodgers just won their second straight championship. The Yankees have not won one in 16 years.
Yankees rotation desperately needs reinforcements
Cole is still recovering from Tommy John surgery. He is expected to return sometime between May and June. Rodon underwent an elbow procedure to remove loose bodies and shave down a bone spur. He will miss time early in 2026. Clarke Schmidt might not return until after the All-Star break.
The Yankees need starting pitching. Imai represented the best available arm on the market. He threw a 99 mph fastball paired with an elite slider that generated a 46 percent swing-and-miss rate in 2025.
Boras compared his client to Yamamoto, who was named World Series MVP in 2025 and finished as a Cy Young Award finalist.
“Certainly, he’s done everything that Yamamoto’s done in NPB,” Boras said of Imai.
Pattern of inaction defines the offseason
The Imai miss follows a frustrating trend. The Yankees lost relievers Devin Williams and Luke Weaver to the Mets without making competitive bids. They have not landed a top free agent this winter.
The Cody Bellinger decision looms. Kyle Tucker remains unsigned. Brian Cashman has made only minor moves. Amed Rosario. Tim Hill. Trent Grisham on the qualifying offer. Ryan Yarbrough. Paul Blackburn. These are depth additions, not difference makers.
The Yankees will rely on Luis Gil, Cam Schlittler and Will Warren to shoulder the load early in 2026. Those three pitched well as rookies. Expecting them to carry a rotation missing Cole, Rodon and Schmidt asks too much.
Imai becomes the third high-profile Japanese starter to come to MLB in three years. The Yankees had interest but not conviction. They scouted Imai. They expressed public fascination. They declined to make the commitment. Steinbrenner’s spending freeze cost them another impact arm.
The Astros added an ace while the Yankees added to their growing list of offseason regrets.
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