NEW YORK — The Yankees face a critical decision this offseason on how to upgrade their bullpen.
The Yankees confront a significant choice regarding their relief corps this winter. Edwin Diaz, the Mets’ star closer, exercised his opt-out clause and hit the open market hunting for a contract comparable to his prior five-year, $102 million pact. Though the Yankees have expressed curiosity, the substantial financial commitment sparks debate over whether less expensive options might deliver superior returns.
Ken Rosenthal of The Athletic noted the Yankees sit among clubs with possible interest in Diaz. Yet New York already secured David Bednar as their closer for 2026 following his acquisition from Pittsburgh at the July deadline. The genuine necessity stems from losing premier relievers Devin Williams and Luke Weaver to the open market.
The Yankees’ relief troubles became obvious in 2025. Following a sixth-place finish in baseball with a 3.62 ERA in 2024, they crashed to 23rd with a 4.37 ERA last campaign. Bringing in Williams before the season and executing deadline moves did not remedy the situation.
Edwin Díaz remains the premium target
Projected deal: 4 to 5 years, US $98–105 million
Edwin Díaz stands atop the relief marketplace following a 1.63 ERA through 62 appearances in 2025 with 28 saves in 31 opportunities. His strikeout ability and overpowering fastball establish him as the most electric choice on the board. Díaz walked away from the remaining two years and 37 million dollars on his Mets deal. He obtained a qualifying offer worth 22 million dollars but turned it down while chasing a multiyear arrangement.
His upcoming pact is forecast to settle between four and five years, with yearly compensation around 24 to 26 million dollars. That contract magnitude positions him far beyond the Yankees’ economical alternatives. Multiple franchises, including the Yankees, Mets, Tigers and Blue Jays, have demonstrated curiosity. Díaz addressed his outlook candidly.
Diaz estimated his likelihood of rejoining the Mets at “50-50” during Thursday’s MLB Awards presented by MGM Rewards in Las Vegas. He confirmed holding talks with Mets leadership but seems willing to weigh his choices.
“Just get the best deal for me and my family,” Díaz said. “I love New York, and I would love to stay in New York, but if I have to go to another place, I will be happy and want to win a ring.”
Díaz’s prominence makes him attractive to the Yankees, but his salary demands and draft compensation concerns present challenges for an organization attempting to manage costs.
Three alternatives for Yankees
Dominant closer Edwin Díaz stands as the headline prize, but his anticipated expense might push New York toward different routes. Listed below are three relievers who might assist the Yankees in solidifying the late innings without pledging to the expensive Díaz contract.
Pete Fairbanks emerges as practical fit
Projected deal: 2 years, US $18-20 million
One compelling candidate is Pete Fairbanks, previously with the Tampa Bay Rays. He recorded a 2.83 ERA across 60⅓ innings during 2025, converted 27 games, and achieved an 84.4 percent save rate with only five failures. His four-seam fastball clocks 97.3 mph on average and he carries knowledge of the American League East, which might ease his adjustment to New York. The financial obligation is projected to fall well short of Díaz. For the Yankees, Fairbanks delivers instant closing credentials and stability without sacrificing monetary freedom.
Emilio Pagan offers upside and value
Projected deal: 2 years, US $12-15 million
Another choice is Emilio Pagan, who in 2025 produced a 2.88 ERA and 32 saves spanning 68⅔ innings for the Cincinnati Reds. His fastball operates between 95 and 97 mph and his three-pitch arsenal showcases solid strikeout capabilities. He might not match the Díaz category, but he represents a modest-risk, substantial-reward avenue. For the Yankees, Pagan could function as a closer or premium setup specialist. His age, output, and salary projection match the leadership’s goal to harmonize expenditure and results.
Jordan Romano gives a deeper option
Projected deal; 1 year, US $5 million
The Yankees’ third reasonable prospect is Jordan Romano, formerly with the Toronto Blue Jays. Romano clocked 95.5 mph with his fastball and had secured 36 saves during his strongest campaigns. Nevertheless, his 2024 to 2025 period featured an 8.23 ERA in 42⅔ innings and elbow surgery, rendering him the riskiest among the trio. Still for New York, Romano provides potential at minimum expense. A recovery would transform him into a bargain, and if the Yankees emphasize depth over spectacle, considering Romano holds logic.
Key comparisons at a glance
| Reliever | 2025 ERA | Saves in 2025 | Projected contract | Career saves | Career ERA |
| Edwin Díaz | 1.63 | 28 | 4–5 years, US $98–105 M | 253 | 2.82 |
| Pete Fairbanks | 2.83 | 27 | 2 years, US $18-20 M | 90 | 3.19 |
| Emilio Pagan | 2.88 | 32 | 2 years, US $10-12 M | 65 | 3.73 |
| Jordan Romano | 8.23 | 8 | 1 year, US $4-5 M | 113 | 3.09 |
How this strategy fits the Yankees
The Yankees’ bullpen has experienced substantial turnover in recent years. Their deal for David Bednar in July 2025 verified urgency. Yet securing a closer like Díaz would demand a considerable investment of draft selections and payroll capacity.
Rather, pursuing one of the three economical alternatives permits the Yankees to direct funds to other priorities including rotation reinforcement, outfield, or relief assistance while still addressing the closer position. It corresponds with recent organizational statements about being calculated instead of spending carelessly.
The Yankees could embrace a stance of recognizing Díaz as elite but declining if conditions become unreasonable, then pivoting to more sensible remedies.
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