NEW YORK — The calendar is about to flip to 2026, and the New York Yankees have done almost nothing to address the holes that doomed their 2025 campaign. While division rivals load up for another run at the American League pennant, the Bronx Bombers remain stuck in neutral. The front office insists there is a plan. Fans are running out of patience.
Sportscaster Sal Licata did not hold back when he addressed the situation on Dec. 30.
“I’m getting the feeling the Yankees don’t know what the hell they’re doing,” Licata said. “This is the New York Yankees. What is going on?”
The Yankees won 94 games last season. They reached the World Series in 2024. They lost Juan Soto to the New York Mets and pivoted to a Plan B that brought in Max Fried and Cody Bellinger. The results fell short of expectations.
Toronto knocked them out in four games in the American League Division Series. The title drought now sits at 16 years, the third-longest in franchise history.
Yankees roster full of questions and few answers
The Yankees enter the offseason with glaring roster holes. Shortstop Anthony Volpe is recovering from left shoulder labrum surgery and will not return until May at the earliest. Ace Gerrit Cole continues his rehab from Tommy John surgery and may not pitch until summer. Carlos Rodon had bone spurs removed from his elbow.
General manager Brian Cashman has acknowledged the team needs help. He has done little to get it.
The Yankees brought back outfielder Trent Grisham on a $22 million qualifying offer. They re-signed reliever Ryan Yarbrough for $2.5 million. They added utility man Amed Rosario on a $2.5 million deal. They picked up reliever Tim Hill and starter Paul Blackburn on minor contracts.
That is the extent of the Yankees’ offseason work through December. No major free agent signings. No blockbuster trades. No real urgency.
Cashman offered a familiar explanation at the Winter Meetings.
“There’s not a lot of inventory that I’m interested in coming off the board yet,” Cashman said. “So that means it’s tough to get.”
AL East rivals are not waiting around
The Yankees’ division rivals see things differently. They have spent the winter reshaping their rosters for 2026.
The Toronto Blue Jays, fresh off an American League pennant, signed ace Dylan Cease to a seven-year, $210 million deal. They added KBO MVP Cody Ponce and closer Tyler Rogers. They remain the frontrunners for free agent outfielder Kyle Tucker, who could command $400 million.
The Baltimore Orioles landed first baseman Pete Alonso on a five-year, $155 million contract. They acquired outfielder Taylor Ward from the Angels. They signed closer Ryan Helsley.
The Boston Red Sox traded for starter Sonny Gray and catcher Willson Contreras. They remain linked to free agent third baseman Alex Bregman.
Even the rebuilding Tampa Bay Rays have been active, signing outfielder Cedric Mullins and starter Steven Matz.
Licata summed up the disconnect.
“It doesn’t seem to me the Yankees are prioritizing making their baseball team better, and that’s a problem,” he said. “Other teams are getting better. So, yeah, are the Yankees cheap all of a sudden?”
The $62 million tax bill and the budget crunch
Money remains at the center of the Yankees’ inaction. The team paid a $61.7 million luxury tax bill for 2025, the third-highest in baseball behind the Los Angeles Dodgers and Mets.
Owner Hal Steinbrenner has made clear he would prefer to lower payroll from the $319 million the team spent in 2025.
“Would it be ideal if I went down [with the payroll]? Of course,” Steinbrenner said in November. “But does that mean that’s going to happen? Of course not. We want to field a team we know we believe could win a championship.”
The Yankees already have $279 million committed for 2026. Aaron Judge accounts for $40 million. Cole takes up $36 million despite missing most of the season. Carlos Rodon costs $27 million. Giancarlo Stanton adds $22 million. DJ LeMahieu counts $15 million against the payroll without contributing on the field.
That leaves roughly $40 million to address every hole on the roster. Bellinger alone could eat more than half that figure if the Yankees bring him back.
A pattern of missed opportunities
This is not a new story for the Yankees. The franchise has watched star after star sign elsewhere over the past decade.
Bryce Harper went to Philadelphia. Manny Machado landed in San Diego. Corey Seager chose Texas. Kyle Schwarber stayed in the National League. Soto bolted for Queens after one year in the Bronx.
Each time, the Yankees found reasons to pass. Each time, a rival got stronger.
The current crop of free agents includes names that could transform the roster. Tucker would give the Yankees a true middle-of-the-order bat. Bregman would solve third base. Bo Bichette would provide insurance at shortstop with Volpe injured.
The Yankees have been linked to all of them. They have signed none of them.
Judge’s prime is slipping away
Aaron Judge remains the face of the franchise. The 33-year-old captain hit .331 with 53 home runs in 2025, becoming the tallest batting champion in baseball history. He led the American League in on-base percentage, slugging and OPS.
Judge has done everything asked of him. The roster around him has not kept pace.
The captain is owed $360 million through 2031. His window to win a ring is not unlimited. Every lost offseason makes the path to October glory more difficult.
“If there is no team built around him, this championship drought might stretch decades,” one analyst noted. “It’s a bitter pill for Yankee fans.”
The front office under fire
Cashman has run the Yankees’ baseball operations since 1998. He has won four World Series titles, all in his first three years on the job. The franchise has not hoisted a trophy since 2009.
Critics argue the game has passed him by. They point to his preference for waiting out the market rather than striking early. They note his reluctance to trade top prospects. They question whether he can adapt to a league where the Dodgers spend freely and win championships.
The Dodgers won back-to-back World Series titles with a payroll that dwarfed the competition. They paid $169 million in luxury taxes last year alone. They signed closer Edwin Diaz this month to shore up their only weakness.
Steinbrenner insists there is a “weak correlation” between spending and winning. The Dodgers’ trophy case suggests otherwise.
Time is running out
Spring training opens in less than two months. The Yankees still need a frontline starter. They need bullpen help. They need a plan for shortstop. They need to decide on Bellinger.
Japanese pitcher Tatsuya Imai remains a target, but his posting window is closing. Reports indicate he has yet to receive an offer from an MLB team.
The fanbase has heard the promises before. They have seen the Winter Meetings come and go without fireworks. They have watched other teams make the moves they expected from the Yankees.
Licata captured the frustration that defines this moment in Bronx history.
“You’re supposed to add on top of a World Series team,” he said. “They went to the World Series, they lose Soto, and then they pivot right away. Everybody thinks they’re supposed to be better. They weren’t.”
The calendar shows Dec. 31, 2025. The Yankees’ offseason shows nothing to calm the growing alarm.
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