NEW YORK — The Yankees had just finished celebrating. Hours after locking up Cody Bellinger on a five-year, $162.5 million deal, general manager Brian Cashman could finally turn his attention to pitching.
Freddy Peralta sat atop his list. The Brewers ace had been the Yankees’ primary trade target for weeks. A 2.70 ERA. Over 200 strikeouts. An $8 million salary that fit any budget.
Then came the phone call. The Mets had beaten them to it.
A wild Wednesday in the Big Apple
Late Wednesday night, the Mets completed a blockbuster trade with Milwaukee. They sent prospects Jett Williams and Brandon Sproat to the Brewers in exchange for Peralta and right-handed swingman Tobias Myers.
The deal came less than 24 hours after the Mets acquired Luis Robert Jr. from the White Sox. It came on the same day they introduced Bo Bichette in Queens. And it happened while the Yankees were still basking in the glow of their Bellinger reunion.
Owner Steve Cohen posted on social media shortly after the trade was announced. “What an incredible week. Let’s go Mets!”
For Yankees fans, those words stung. Their crosstown rivals had just swiped the one pitcher they desperately needed.
The Yankees’ rotation remains a concern
The timing could not have been worse. The Yankees enter 2026 without three key starters. Gerrit Cole remains sidelined following Tommy John surgery. His return has been pushed to late May or early June. Carlos Rodon underwent an elbow cleanup procedure and should return in late April. Clarke Schmidt could miss most of the season after his own Tommy John surgery.
Max Fried stands as the clear ace for Opening Day after going 19-5 with a 2.86 ERA in 2025. Cam Schlittler, Will Warren, Luis Gil, and Ryan Yarbrough round out the current options.
Peralta would have filled a massive hole. Instead, he will wear blue and orange.
The Mets outbid everyone
The prospect package the Mets surrendered was steep. Williams ranked as their No. 3 prospect and No. 30 overall in MLB Pipeline’s rankings. The versatile 22-year-old can play shortstop, second base, and center field. He hit .261 with 17 home runs across two levels last season.
Sproat, ranked fifth in the Mets’ system, debuted last season and posted a 4.79 ERA in four September starts. His ground ball rate and underlying numbers suggested significant upside.
The Yankees simply could not match it. Their equivalent package would have required Dax Kilby or George Lombard Jr., not Spencer Jones or Jasson Dominguez. For a rental starter, even one with Peralta’s upside, that was never going to happen.
“Acquiring Freddy adds another established starter to help lead our rotation,” Mets president of baseball operations David Stearns said in a statement. “Throughout the offseason, we sought to complement our rotation with another front-end pitcher, and we’re thrilled we are able to bring Freddy to the Mets.”
Peralta’s career-best season
The two-time All-Star delivered a career year in Milwaukee in 2025. Freddy Peralta finished 17-6 with a 2.70 ERA across 33 starts and 176 2/3 innings. He struck out 204 batters while walking just 66. His WHIP sat at 1.08.
Peralta led the National League in wins. He finished fifth in Cy Young voting. His slider generated a 53.4 percent whiff rate, one of the best marks in baseball.
He has also been durable. Peralta averaged 32 starts and 172 innings per season over the past three years. Early in his career, health was an issue. Not anymore.
His $8 million salary for 2026 made him a bargain. He will be a free agent after the season, but for one year, the Mets have a frontline arm at a discount price.
The Stearns connection sealed the deal
There was another factor working in the Mets’ favor. Stearns was the Brewers’ general manager when Milwaukee acquired Peralta in 2015. He oversaw the right-hander’s development into an ace.
That relationship mattered. Milwaukee made a similar decision last winter when it traded Devin Williams to the Yankees with the closer entering his final year of team control. The Brewers prefer to get value for players they cannot afford to keep.
Stearns knew exactly what he was getting. He also knew exactly what Milwaukee needed in return.
Yankees now face limited options
With Peralta off the board, the Yankees’ options have narrowed significantly. Tarik Skubal remains a long shot. The Tigers are asking for a package that would gut any farm system. Framber Valdez brings frontline ability but carries age and cost concerns at 32. Zac Gallen has pedigree but durability questions.
Cashman will likely pivot to depth starters and bullpen pieces. The Yankees have not added any high-leverage relievers this winter. They lost Devin Williams, Luke Weaver, and Mark Leiter to free agency.
The Bellinger signing was supposed to free Cashman to address pitching. Spencer Jones and Jasson Dominguez were available as trade chips. Now those chips may buy less than expected.
The Mets’ stunning transformation
One week ago, the Mets faced mounting pressure after missing out on Kyle Tucker. Their rotation had finished 27th in innings pitched in 2025. The bullpen collapse that followed contributed to the team’s crash from the best record in baseball in mid-June to missing the postseason on the final day.
Now they have Bichette at third base, Robert in center field, and Peralta at the top of the rotation. Nolan McLean, the rookie revelation from late 2025, will share ace responsibilities. David Peterson, Clay Holmes, Sean Manaea, and Kodai Senga fill out a much deeper staff.
The Yankees won the day on Wednesday morning. The Mets won the night. And in the battle for New York pitching supremacy, the team from Queens landed the knockout punch.
Spring training opens in less than three weeks. The Yankees still have holes to fill. Their rivals across town just filled their biggest one.
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