Gleyber Torres likely to get a 30% pay rise, what about other Yankees

Yankees second baseman Gleyber Torres looks happy after stealing a run against the Orioles at Yankee Stadium on July 4, 2023.

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Yankees second baseman Gleyber Torres is heading for his final year of arbitration eligibility and the team is reportedly planning to hike his salary significantly. His reliable performance throughout the 2023 season has positioned him for a suitable reward and the Yankees are considering to give a substantial pay bump.

In the preceding season, Gleyber Torres, a two-time All-Star, commanded a salary of $9.95 million, reflecting a noteworthy increase of $3.7 million compared to the previous year. As the new season approaches, MLB Trade Rumors projects that Torres, who delivered a .273 batting average accompanied by a .800 OPS over the course of 158 games, is on track to secure a salary of $15.3 million, signifying an impressive raise of over $5.3 million. Furthermore, Gleyber Torres’ offensive wins above replacement (oWAR) of 3.3, as calculated by Baseball Reference, represents the second-highest mark in his career.

Gleyber Torres is poised to enter free agency in 2024, unless a contract extension alters the course.

The Yankees seem to be happy with Gleyber Torres

Yankees manager Aaron Boone expressed his admiration for Gleyber Torres, highlighting his unwavering consistency and leadership throughout the month of September.

He noted that it had been the player’s most consistent offensive season and emphasized the importance of Gleyber Torres’ ability to contribute to the lineup consistently. Boone also highlighted the player’s growth in understanding the responsibility of being available and accountable every day. The Yankees manager acknowledged that despite the player’s youth, he had shown significant growth in these aspects.

Yankees arbitration and paycheck for players before the 2024 season

The New York Yankees have had their fair share of contentious arbitration battles in recent years, creating an atmosphere of discomfort and strain in player-team relationships. It’s not an indictment of the Yankees but rather a common occurrence in the world of professional sports. When disputes escalate to the point where legal representatives are brought in to engage in heated negotiations, it signifies a challenging phase in the player-organization dynamic. The memory of Randy Levine’s encounter with Dellin Betances and the brinkmanship that nearly saw Aaron Judge enter free agency over a few million dollars lingers as reminders of these turbulent arbitration episodes.

After extending an arbitration offer to a player, there’s a window of opportunity, typically within February, during which the team and the player’s agent negotiate to reach a consensus on a fresh contract. Should this negotiation phase fail to yield an agreement, both parties submit their respective salary proposals. The player’s salary is subsequently decided upon during a hearing by impartial arbitrators.

Interestingly, a team can present an arbitration offer to a player and subsequently trade that player. This means that the Yankees can extend contract offers to players, even if they don’t envision them fitting into their immediate plans.

Based on the MLB Trade Rumors‘ algorithm, which takes into consideration factors like a player’s playing time, position, role, and performance statistics while also factoring in inflation, here are the projected salaries for the Yankees’ arbitration-eligible players in the upcoming 2024 season.

This offseason, a total of seventeen Yankees are eligible for arbitration, and this includes Gleyber Torres. Based on the projections provided by MLB Trade Rumors’ Matt Swartz, the combined salaries for the Yankees’ arbitration-eligible players are estimated to exceed $54 million.

It’s important to note that not all of these players may stay with the Yankees, as there could be trades or non-tendered contracts in the mix.

Yankees players and likely salary in 2024

Gleyber Torres: $15.3 million

gleyber-torres-ny-yankees
MLB

After enjoying a season marked by remarkable consistency at the plate, Torres is poised to receive a substantial increase in his earnings through arbitration. Nonetheless, he has been a subject of trade speculation for several years, and his return to the Yankees in 2024 is far from certain.

Clay Holmes: $6 million

Clay Holmes in action for the Yankees
AP

Clay Holmes maintained his impressive performance in the bullpen, successfully closing out 24 games out of 27 opportunities and maintaining a commendable 2.86 ERA.

Domingo German: $4.4 million

Domingo German‘s performance on the mound in 2023 was acceptable, but a highly publicized incident of drunken behavior in the clubhouse, as reported by the Wall Street Journal’s Lindsey Adler, led to his placement on the restricted list. This marked the second time he had been put on this list since 2019 when he was suspended due to MLB’s domestic violence policy. Given these circumstances, it wouldn’t be unexpected if the Yankees decided to part ways with German, especially considering his voluntary entry into inpatient treatment for alcohol abuse in August.

Lou Trivino: $4.1 million

lou-trivino-new-york-yankees
Charles Wenzelberg

Trivino showcased strong performances for the Yankees following his acquisition from Oakland last year. However, the right-handed reliever was sidelined for the entire 2023 season due to Tommy John surgery.

Nestor Cortes: $3.9 million

nestor-cortes-new-york-yankees
Twitter- @TalkinYanks

The Yankees held high expectations for Nestor Cortes following his outstanding 2022 season. However, he struggled with a recurring rotator cuff injury and didn’t perform nearly as well this year.

Jose Trevino: $2.7 million

jose-trevino-new-york-yankees

Trevino struggled at the plate before he had to shut down his season due to a lingering wrist injury shortly after the All-Star break. Following his surgery, he anticipates being fully prepared for spring training.

Micheal King: $2.6 million

Michael King, player of the New York Yankees
MLB

King primarily worked out of the bullpen for the majority of the season, but towards the end of the year, the Yankees tried him out as a starter, making him a potential candidate for the starting rotation next season, pending the team’s offseason moves. King’s performance offers the Yankees a dependable and budget-friendly alternative.

Clarke Schmidt: $2.6 million

clarke-schmidt-new-york-yankees
AP

Schmidt follows a similar trajectory, experiencing significant growth after a challenging start to his extended stint in the major league rotation. The right-handed pitcher achieved personal bests with 32 starts and 159 innings during the season.

Jonathan Loaisiga: $2.5 million

@TalkinYanks

Loaisiga continued to grapple with injuries, limiting his appearances to just 17 games in 2023. While undeniably dominant in relief, his reliability has become a concern, especially considering his rising cost to the team.

Kyle Higashioka: $2.3 million

Kyle Higashioka, player of the New York Yankees
AP

Higashioka, holding the distinction of being the Yankees’ longest-serving player, might see his tenure with the team come to an end this offseason. Given the presence of Trevino, Austin Wells, and Ben Rortvedt, the Yankees find themselves in a favorable position when it comes to big-league catching depth.

Jake Bauers: $1.7 million

Jake Bauers at the game that resulted in the Yankees loosing 8-2 loss to the Rays, on May 11, 2023, at Yankee Stadium.
Robert Sabo

Bauers displayed moments of promise during certain stretches and even took on leadoff duties for the injury-plagued Yankees’ lineup. However, his batting average stood at a mere .202, and his defensive abilities left much to be desired, making him a liability in the field.

Franchy Cordero: $1.6 million

franchy-cordero-new-york-yankees

Cordero initially seemed like a hidden gem of a bargain bin find when he smacked four home runs in the early days of April. However, he soon regressed to his usual, unremarkable performance levels throughout his career.

Billy McKinney: $1.2 million

billy-mckinney-new-york-yankees

McKinney made a concerted effort to capitalize on his second opportunity with the Yankees, but his statistics failed to ignite any enthusiasm, and his season concluded with a placement on the injured list.

Matt Bowman: $1 million

Matt-Bowman-new-york-yankees
X-@TalkinYanks

Bowman finally made his long-awaited return to MLB action at the conclusion of the year, but he surrendered four earned runs in the course of four innings on the mound.

Albert Abreu: $900,000

albert-abreu-new-york-yankees
Twitter-NY Sports

Abreu continued to perform on the mound in 2023, maintaining the standard of a back-of-the-bullpen pitcher, but his 4.73 ERA over 59 innings leaves room for improvement. The Yankees might explore the possibility of acquiring a more cost-effective reliever who offers greater roster flexibility and has the potential for higher performance.

Jimmy Cordero: $900,000

jimmy-cordero-new-york-yankees
Twitter

Cordero found himself suspended in July under MLB’s domestic violence policy, which not only prematurely concluded his season but also raised questions about his future with the Yankees, which had been relatively short-lived.

Ryan Weber: $900,000

Yankees relief pitcher Ryan Weber

Weber has been a reliable presence on the mound for the Yankees, although he often found himself in less critical situations, starting in 2022. His season came to an abrupt halt in June due to a forearm strain.

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