Trade talks: Yankees eye another Brewers swap amid ominous Cole warnings

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The Brewers are back in the Yankees’ trade sights as Gerrit Cole’s status raises red flags.

Gerrit Cole’s protracted rehabilitation from Tommy John surgery, extending into mid-2026, has escalated the New York Yankees’ need to bolster their starting pitching corps. Multiple sources within baseball circles indicate the Yankees are negotiating a potentially transformative acquisition involving Milwaukee Brewers’ right-handed ace Freddy Peralta, representing their second significant transaction with Milwaukee within a six-month span.

Following an active winter highlighted by securing Max Fried, Paul Goldschmidt, Cody Bellinger, and closer Devin Williams, vulnerabilities have surfaced within the Yankees’ pitching depth during the opening two months of 2025. Currently holding a 21-17 record with championship ambitions intact, New York’s front office views Peralta as both an immediate reinforcement and strategic protection amid Cole’s continued absence.

Cole’s concerned timeline necessitates an urgent response

Cole received Tommy John surgery in March. While originally projected for a 12-to-14-month rehabilitation period, the Yankees’ cornerstone pitcher subsequently embraced a more cautious timeline.

“I’m targeting mid-2026,” Cole communicated to MLB.com’s Bryan Hoch. “There’s no point in rushing it. I want to come back healthy and strong.”

Although this perspective emphasizes Cole’s commitment to comprehensive recovery, Yankees management faces immediate pressures. The organization has already overtaxed Max Fried and Carlos Rodón, while Marcus Stroman hit the disabled list following an alarming 11.57 ERA performance. Luis Gil’s forearm complications sideline him through late June minimum, and Will Warren’s volatility (5.65 ERA across seven appearances) provides little reassurance.

Veteran Carlos Carrasco received his release last week, and without established fifth-starter stability, the Yankees confront familiar predicaments.

Peralta: Potential rotation solution for Yankees?

The 28-year-old Peralta has developed into the National League’s most consistent performer throughout 2025. The Dominican pitcher maintains a 2.18 ERA spanning eight appearances with remarkable 12.4 K/9 statistics — positioning him toward consecutive All-Star selections. His refined command, enhanced endurance, and diversified pitch arsenal establish him as credible postseason Game 2 material among championship contenders.

Peralta’s contractual situation amplifies his appeal. Team control extends through 2026, featuring club options potentially securing his services through 2028. His annual compensation — $8 million — substantially undervalues market rates for premium starters. Spotrac calculations project his legitimate worth approaching $22 million yearly, rendering the existing arrangement exceptionally team-friendly.

An American League evaluator observed, “He’s not Cole, but he’s the kind of arm you want starting Game 2 of a postseason series. High K-rate, workhorse frame, and still affordable. He fits exactly what the Yankees need.”

Milwaukee’s calculated asset management

The Brewers historically emphasize organizational continuity above individual attachments. Previous years witnessed departures including Josh Hader, Corbin Burnes, and recently Devin Williams — strategic moves preventing diminished returns through free agency losses.

Despite maintaining National League Central relevance, Milwaukee’s leadership reportedly entertains Peralta discussions, provided adequate compensation. ESPN’s Buster Olney addressed this probability during Baseball Tonight.

“Freddy Peralta is exactly the type of pitcher they’ve dealt before,” Olney stated. “And with the Yankees in a bind, they could be the team willing to meet the price.”

Developing trade structure

Preliminary discussions involve Milwaukee surrendering Freddy Peralta for a prospect-laden return package. One proposed configuration includes:

Yankees acquire:

• RHP Freddy Peralta

Brewers receive:

• RHP Bryce Cunningham (2023 third-round selection, developing fastball-slider combination)
• Either INF Oswald Peraza or OF Everson Pereira
• SS/2B Roderick Arias (Yankees’ seventh-ranked prospect, five-tool upside), if needed to sweeten the deal.

This framework addresses Milwaukee’s developmental priorities alongside New York’s pressing requirements. Twenty-year-old Arias represents foundational talent within the Yankees‘ minor leagues. Cunningham, though unpolished, generates excitement through Double-A strikeout capabilities. Peraza encounters positional redundancy behind Anthony Volpe, while Pereira provides Milwaukee additional outfield depth through power-oriented skillsets.

An opposing executive evaluated: “This isn’t a home run for Milwaukee, but it’s not a throwaway either. If they believe in Arias and want someone to contribute right now, Peraza makes sense.”

Transaction rationale

Yankees’ Perspective: Pitching deficiencies demand immediate attention. Although Fried and Rodón demonstrate competence, subsequent depth lacks substance. Peralta introduces strikeout capacity and innings-eating durability — essential qualities during summer months and October pursuits. His contractual terms guarantee organizational investment beyond rental arrangements, establishing sustained roster certainty.

Projected midseason configuration featuring Fried, Rodón, Peralta, Gil, and Warren potentially matches any playoff-caliber rotation. Combined with elite bullpen resources anchored by Clay Holmes, Luke Weaver, and Devin Williams, championship components crystallize.

Brewers’ Viewpoint: Milwaukee maintains value optimization rather than desperation selling. Arias projects as a potential starting shortstop by 2026. Cunningham supplements future rotation considerations. Either Peraza or Pereira addresses organizational requirements without accelerating internal prospect timelines.

Is it the right move for the Yankees?

Yankees leadership demonstrates an unwavering commitment to championship pursuit. Aaron Judge power offensive production, the bullpen improvements stabilize late innings, and lineup consistency prevails, leaving rotation enhancement as the remaining priority. Gerrit Cole’s unavailability creates a substantial impact, yet it shouldn’t predetermine seasonal outcomes.

Brian Cashman’s reputation emphasizes midseason adaptability. Should Milwaukee signal availability — consistent with historical precedent — Freddy Peralta potentially becomes the Yankees’ latest October-focused acquisition.

What do you think? Leave your comment below.

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