NEW YORK — Brian Cashman danced around questions about Hal Steinbrenner’s payroll demands Wednesday while acknowledging serious rotation concerns and downplaying the need for elite bullpen additions during the GM Meetings.
The Yankees general manager, speaking remotely due to a personal matter, avoided directly addressing reports that Steinbrenner wants the 2026 payroll below $300 million. The organization currently has approximately $263 million committed for next season.
“I know that we are always fluid with our payroll situation,” Cashman said when pressed about spending limits. “Out of all the things that we have here in the organization, payroll usually is not an issue that we’ve had to deal with.”
Rotation depth faces immediate test
The Yankees enter the offseason with three veteran starters slated to begin 2026 on the injured list. Gerrit Cole won’t be ready for Opening Day following Tommy John surgery, Carlos Rodon requires weeks after elbow surgery, and Clarke Schmidt won’t return until midseason from his own Tommy John procedure.
Cashman acknowledged the precarious situation facing his rotation despite maintaining confidence in internal options. Cole underwent surgery in March after suffering elbow inflammation during spring training. His earliest return projects for May or June. Rodon had surgery to remove loose bodies and address a bone spur in his elbow, pushing his 2026 debut several weeks into the season.
“We have pitching depth, but it’s going to be challenged early,” Cashman admitted. “Certainly, we have a stressor on the front end of the rotation starting the season. Hopefully, that’s without any further injuries.”
Top starters likely out of reach
Despite the rotation crisis, Cashman hinted the Yankees might pass on premier free agent starters. Dylan Cease, Framber Valdez, Ranger Suarez, Michael King, Zac Gallen and Japanese ace Tatsuya Imai headline the market.
The general manager suggested the Yankees would explore less expensive options to bridge the gap until Cole and Rodon return. Max Fried anchors the healthy portion of the rotation after posting 19 wins in his first Yankees season. Cam Schlittler and Will Warren exceeded their previous innings totals in 2025, raising durability questions.
“We’ll be exploring how to protect ourselves so we’re not taking on water early because our rotation is compromised out of the gate,” Cashman said. “Certainly we can’t wait to get those guys back, Cole and Rodon especially, but it’s an area for us to focus on.”
Cashman rules out big bullpen spending
The Yankees appear content with David Bednar as their closer despite losing Devin Williams and Luke Weaver to free agency. Cashman downplayed interest in elite closers Edwin Diaz and Robert Suarez, both potential opt-out candidates from their current contracts.
Bednar stabilized the ninth inning after arriving via trade deadline deal from Pittsburgh. The two-time All-Star posted a 1.70 ERA in 37 innings following his demotion to Triple-A early in the season. He remains under team control through 2026.
“We have a closer in Bednar, so that’s a good thing for us,” Cashman stated. “But you never have enough quality arms in the bullpen. I’d say adding a closer is not a pressure point for us.”
Financial flexibility remains murky
Cashman’s comments about payroll flexibility contradict recent reports suggesting Steinbrenner wants spending reduced. The Yankees paid $62.5 million in luxury tax penalties in 2024, their highest single-season total under the current ownership.
Teams exceeding $301 million face a 110 percent tax rate on overages, effectively making every dollar spent beyond that limit cost $2.10. With major contracts for Aaron Judge, Giancarlo Stanton, Gerrit Cole, Carlos Rodon and Max Fried totaling $147.3 million annually through at least 2027, flexibility remains limited.
“I think payroll is always something we play with, but we’re pretty strongly invested,” Cashman said. “But what the ultimate payroll number is going to be? I haven’t gotten that from Hal Steinbrenner.”
Chisholm extension talks preliminary
The Yankees haven’t decided whether to pursue a contract extension with All-Star second baseman Jazz Chisholm Jr., who enters his walk year. Chisholm became the franchise’s third 30-homer, 30-steal player in 2025.
Agent Brodie Van Wagenen and Cashman spoke Wednesday, though substantive negotiations haven’t begun. Chisholm has expressed interest in remaining with the Yankees long-term after arriving via trade from Miami before the 2024 deadline.
“Not sure how that would play out,” Cashman said about extension talks. “Jazz certainly came up. He’s been a great addition.”
Bullpen market evaluation continues
While dismissing the need for a closer, Cashman confirmed the Yankees would monitor the reliever market. The bullpen posted a 4.37 ERA in 2025, ranking 23rd in baseball. Performance worsened after the trade deadline despite adding Bednar.
“So it lessens that role for us, but it doesn’t prevent us from dipping our toe in the water to add to our bullpen,” Cashman explained. “We will be touching base with everybody that’s out in the marketplace to make sure we know what their costs are.”
The Yankees face multiple roster holes with limited financial flexibility. Cashman’s evasive answers about payroll restrictions and reluctance to pursue top-tier pitching suggest the organization’s spending spree might be ending. With three injured starters and questions throughout the roster, the general manager’s confidence in internal solutions will be tested immediately when spring training begins.
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