NEW YORK — The New York Yankees watched one of their former pitchers sign a lucrative deal this week. They did not even attempt to bring him home. Michael King agreed to a three-year, $75 million contract with the San Diego Padres on Thursday. The Yankees never made him an offer.
That decision has raised eyebrows across the Bronx. The team desperately needs starting pitching depth. Three key starters are headed to the injured list. Yet the front office stood silent while King returned to San Diego.
So what exactly are the Yankees thinking?
The Bronx passed on a familiar face
King spent parts of five seasons in pinstripes before the Yankees dealt him to San Diego in the Juan Soto trade. He flourished after the move. The right-hander made 45 starts for the Padres over two seasons and posted a 3.10 ERA with 277 strikeouts. He proved he could handle a full starter’s workload.
MLB insider Jon Heyman reported that the Yankees made no offer for King. “Yankees made no offer for King in the end,” Heyman wrote on X. “Have other targets.”
General manager Brian Cashman appears focused elsewhere despite obvious rotation concerns. The team that developed King watched him walk without a fight.
King’s contract includes opt-outs after 2026 and 2027. That structure offered flexibility. A team could view it as a one-year deal at $22 million, a two-year pact at $45 million, or the full three years at $75 million. The Yankees still walked away.
Rotation troubles run deep in the Bronx
The Yankees face a pitching crisis. Gerrit Cole had Tommy John surgery and is not expected back until May or June. Carlos Rodon underwent elbow surgery to remove bone spurs and foreign bodies. He will miss the start of the season. Clarke Schmidt is recovering from his own Tommy John procedure and could miss most of 2026.
That leaves the Yankees dangerously thin. Max Fried anchors the rotation after signing an eight-year, $218 million deal. Behind him sit Luis Gil, Will Warren, and Cam Schlittler. None of those options provide certainty heading into April.
Gil battled injuries and inconsistency in 2025. He posted a 3.32 ERA in just 11 starts. Warren struggled with a 4.44 ERA across 33 appearances. Schlittler made only 14 starts as a rookie and is still developing a secondary pitch to complement his blazing fastball.
Cashman has acknowledged the early-season challenge. The Yankees will need to weather the storm until Cole and Rodon return. King would have provided insurance. Instead, the rotation relies on unproven arms.
The Yankees see King as a mid-rotation arm
The front office apparently does not view King as a difference maker. When Cole and Rodon are healthy, King would slot behind them in the rotation. The Yankees were not willing to spend $25 million per year for a middle-of-the-pack starter.
That valuation explains the lack of an offer. The Yankees know King better than almost anyone. They watched him develop from a reliever into a starter. They traded him away once before. Apparently, they did not regret that decision enough to pay up now.
During his time in New York, King logged 115 appearances with only 19 starts. He posted a 3.38 ERA across 247.2 innings. The potential was always there, but the Yankees never fully committed to him as a starter. San Diego did. Now they reap the rewards.
Japanese star Tatsuya Imai stays on the radar
The Yankees have been connected to Tatsuya Imai for weeks. The 27-year-old right-hander dominated the Japan Pacific League in 2025. He posted a 1.92 ERA with 178 strikeouts and a 10-5 record in 24 games. Imai has until Jan. 2 to sign with an MLB club.
Reports suggest Imai could command a contract in the $150 million to $200 million range. That is a significant investment for an unproven commodity at the major league level. But the Yankees reportedly view Imai as a potential ace. They believe he has front-of-rotation upside that King lacks.
Heyman previously reported in November that the Yankees had shown interest in Imai. The Japanese pitcher represents a higher ceiling play. Whether he can translate his success to MLB remains uncertain.
Trade options remain available
The free agent market is thinning fast. Dylan Cease signed with the Toronto Blue Jays. Merrill Kelly returned to the Arizona Diamondbacks. Shota Imanaga accepted a qualifying offer from the Chicago Cubs. The top arms are disappearing quickly.
Other starters still available include Framber Valdez, Ranger Suarez, Nick Martinez, Chris Bassitt, and Zac Gallen. Any of those names would cost significant money. Valdez and Imai represent the premium options remaining.
The trade market offers alternatives too. Milwaukee Brewers starter Freddy Peralta has drawn interest from multiple teams including the Yankees. However, Peralta enters free agency after next season. A trade would cost prospects for what could become a rental.
Financial considerations shaped the decision
Money plays a role here. The Yankees already owe massive salaries to their pitchers. Cole is set to earn $108 million over the next three years. Rodon will make $84 million during that same period. Fried just signed his $218 million megadeal.
Adding King at $25 million per year would have pushed the rotation payroll higher. The opt-out structure also created uncertainty for long-term planning. The Yankees apparently decided that money was better spent elsewhere.
The Yankees have made bringing back Cody Bellinger their top offseason goal. Bellinger declined his $25 million player option in October. He entered free agency seeking a long-term deal. Some projections suggest he could land a six-year contract worth $180 million or more. Agent Scott Boras claims eight teams are pursuing Bellinger.
Bellinger represents a different kind of investment. He provides versatility in the outfield and at first base. He hit left-handed pitching exceptionally well in 2025, posting a .353/.415/.601 slash line against southpaws. The Yankees see more value in that production than in King’s arm.
The front office apparently decided that money was better allocated elsewhere. They are willing to gamble on internal options rather than pay market rate for a proven arm.
The gamble could backfire
Critics question the logic. The Yankees lost closer Luke Weaver and reliever Devin Williams to the crosstown Mets this winter. Now they passed on a proven starter in King. The pitching staff looks vulnerable heading into spring training.
King knew the Bronx. He understood the pressure. He handled New York’s demanding environment for years. That familiarity carried value that is hard to quantify on a spreadsheet.
The Padres now get to enjoy what the Yankees developed. King will take the mound for San Diego while the Bronx Bombers piece together a rotation full of question marks. The Yankees are betting on Imai, trades, and internal options to fill the gaps.
Time will tell if that strategy pays off. The Yankees believe they have a plan. Their fans are not so sure. One thing is certain: Michael King will not be part of the solution in the Bronx. That door has closed for good.
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