The New York Yankees are embarking on a crucial offseason following their absence from the 2023 postseason, a setback deemed unacceptable by the storied franchise. As they gear up for the 2024 season, they face a multitude of pressing questions and decisions.
What’s expected to happen with the Yankees?
Aaron Boone, the Yankees’ manager, seems set to return for the 2024 season, but it’s clear that adjustments to his managerial approach are imperative. The team finds itself at a crossroads with a roster that boasts veteran players on substantial contracts while also grappling with several players heading for arbitration.
Adding to the intrigue, the Yankees are eager to make a splash in the free-agent market, with rumors swirling about their interest in the Los Angeles Angels’ star, Shohei Ohtani, despite his injury concerns.
The offseason timeline and the pivotal questions that the Yankees must address
Qualifying Offers
November TBA
As soon as the dust settles after the World Series, the Yankees have a brief five-day window to extend qualifying offers to potential free agents. This year’s qualifying offer stands at approximately $20.5 million for a one-year contract. It’s a safety net for teams, offering draft pick compensation should a player reject the offer and sign with another team. Historically, few players have accepted qualifying offers, with only 12 of 124 players offered doing so since its inception in 2012.
General Managers Meetings
Nov 7-9, Scottsdale, Ariz.
The Yankees’ front office, led by general manager Brian Cashman, will convene at the annual general managers meetings in Scottsdale, Arizona. While these meetings rarely produce blockbuster deals, they serve as a platform for initial discussions and groundwork for free agency and trades.
2024 Contract Offers
Nov. 17
Teams must extend contracts for the 2024 season to unsigned players on their 40-man rosters. Players not offered contracts become free agents. By this date, most marquee players have made their decisions or re-signed with their current teams. The Yankees have seven unrestricted free agents in their ranks.
Winter Meetings
Dec. 3-6, Nashville, Tenn.
The Winter Meetings in Nashville are the epicenter of MLB’s offseason whirlwind. Owners, general managers, agents, and media converge at this event, where major deals, such as free-agent signings and trades, often come to fruition or are at least set in motion.
Hall of Fame Contemporary Baseball/Managers-Umpires-Executives Committee Vote
Dec. 3, Nashville, Tenn.
This date marks the unveiling of the Hall of Fame Contemporary Baseball/Managers-Umpires-Executives Committee vote results. Finalists are typically announced beforehand, with a 16-member committee tasked with making the selections rather than the broader Baseball Writers Association of America vote.
2024 Amateur Draft Lottery
Dec. 5, Nashville, Tenn.
MLB employs a weighted lottery system, akin to the NBA Draft Lottery, to determine the draft order for non-playoff teams in the 2024 MLB Draft. The Yankees, along with the Mets and Padres, have an outside chance of securing the first overall pick, although their odds are diminished due to exceeding the luxury tax threshold in the 2023 season.
Winter Meeting Draft (Rule 5 Draft)
Dec. 6, Nashville, Tenn.
The Winter Meeting Draft, colloquially known as the Rule 5 Draft, allows teams to pluck players not on their 40-man roster. Teams must decide which players are eligible for selection and pay a fee to the player’s club if chosen. Selecting a player in this draft signifies a belief that they can contribute in the upcoming season. Last year, the Yankees lost two players in the Rule 5 Draft but did not make any selections.
International Signing Period Closure
Dec. 15, 5 p.m. EST
MLB teams must utilize any remaining international signing money for the 2023 period by this deadline. The Yankees made significant international signings earlier in the year, including Cuban outfielder Brando Mayea, who received a substantial bonus.
Salary Arbitration Figures Exchange
Jan. 12
This stage of the offseason involves the exchange of salary arbitration figures between teams and eligible players. Arbitration-eligible players typically possess between three and six years of Major League service. Negotiations can become contentious if an agreement isn’t reached before the arbitration deadline. The Yankees have numerous arbitration-eligible players to evaluate.
International Signing Period Opening
Jan. 15, 9 a.m. EST
The commencement of the 2024 international signing period permits teams to ink deals with eligible players who meet specific criteria, including residing outside the United States, Canada, or Puerto Rico and being at least 16 years old or turning 16 by September 1 of the current signing period.
As the Yankees navigate this critical offseason, they’re determined to reshape their fortunes and reemerge as formidable contenders in the 2024 season.
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