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Bud Daley Passes Away

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In news that eluded MLBTR at the time, former All-Star pitcher Bud Daley passed away last month at 92. The news was revealed via obituary from a Riverton, Wyoming funeral home.

Daley was a Long Beach native who signed with the Indians out of high school. He pitched in the minors over four-plus seasons and debuted as a September call-up in 1955. Daley pitched in a swing role for three years before Cleveland dealt him to the Orioles as part of a three-player package to reacquire Larry Doby and add lefty Don Ferrarese. Daley never pitched for Baltimore, who flipped him to the Kansas City Athletics for righty Arnie Portocarrero.

It was a nice pickup for the A’s. Daley spent the ’58 season in the bullpen but moved into the rotation the following year. He topped 200 innings and won 16 games in each of the next two seasons. Daley made four All-Star appearances — there were two All-Star Games per season at the time — and picked up some down-ballot MVP support.

The A’s traded Daley to the Yankees midway through the 1961 season, landing pitcher Art Ditmar and corner infielder Deron Johnson in return. That positioned Daley to win a pair of rings, as he remained in the Bronx on the World Series teams in 1961 and ’62. He was on both World Series rosters, combining for eight innings without allowing an earned run over three relief appearances.

Daley finished his career in 1964. He appeared in parts of 10 seasons and concluded his playing days with a 4.03 ERA through 967 1/3 innings. He recorded 549 strikeouts and posted a 60-64 record. MLBTR sends our condolences to Daley’s family, loved ones and friends.

Yankees Interested In Carlos Estevez

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The Yankees are casting a wide net in their search for relief pitching, including some of the names in the top tier of the free agent bullpen market.  MLB Network’s Jon Morosi writes (X link) that Carlos Estevez is one of the relievers the Yankees are looking at, on the heels of Estevez’s 26-save season with the Angels and Phillies.

Estevez collected his share of saves as a high-leverage member of the Rockies’ bullpen from 2016-22, but he didn’t become a full-time closer until 2023, after he’d signed a two-year, $13.5MM contract with the Angels in his previous trip to the open market.  Estevez racked up 31 saves in his first season in Los Angeles while posting a 3.90 ERA over 62 1/3 innings, and followed that up with a 2.38 ERA over 34 frames this year before the Angels sent him to Philadelphia at the trade deadline.  The bottom-line result of a 2.57 ERA over 21 innings with the Phils was still impressive, though Estevez had diminished strikeout and walk rates following the trade.

All in all, the right-hander delivered a 2.45 ERA across 55 innings, with an excellent 5.7% walk rate.  The Statcast metrics revealed a few more red flags than red data points, as Estevez’s strikeout rate was barely above league average, and his barrel and hard-hit ball rates were both quite poor.  A .229 BABIP might be the key stat of Estevez’s season, and while his 3.57 SIERA was still respectable, the number is over a run higher than his actual ERA.

Then again, perhaps Estevez was due a bit of balance considering that he entered the season with a career .320 BABIP.  The righty’s career strikeout numbers have tended to fluctuate since Estevez isn’t good at getting batters to chase outside the zone, yet he still possesses plenty of velocity in his 96.8mph fastball.  Estevez has relied heavily on that pitch over his career, though his slider and changeup were also plus pitches in 2024.

MLBTR ranked Estevez 22nd on our list of the winter’s top 50 free agents, projecting a three-year, $27MM deal for the reliever as he enters his age-32 season.  Naturally Estevez figures to get plenty of attention from teams that need a proper closer, yet the Yankees technically have that position addressed after Luke Weaver’s late-season emergence.  It makes sense that New York would seek out a more proven closer in case Weaver comes back to earth, or perhaps if the Yankees want to use Weaver in more of a situation role than strictly as a ninth-inning specialist.

Yankees Sign Brandon Leibrandt To Minors Deal

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The Yankees signed Brandon Leibrandt to a minor league contract, according to the left-hander’s profile page at MLB.com.  The Reds designated Leibrandt for assignment and outrighted him off their 40-man roster at the end of October, upon which Leibrandt opted to become a minor league free agent.

A sixth-round pick for the Phillies back in the 2014 draft, Leibrandt made his MLB debut in the form of nine innings and five appearances with the Marlins in 2020.  That cup of coffee marked his last trip to the Show until this past season, when Leibrandt tossed 6 1/3 innings over two appearances with Cincinnati.

In between those two big league stints, Leibrandt pitched in the minors with the Marlins and Cubs, and he spent the entire 2023 campaign and the start of the 2024 season outside of affiliated baseball, pitching with the Atlantic League’s High Point Rockers.  Leibrandt had a 2.70 ERA over 80 innings with the Rockers, which was enough for the Reds to give him a look on a minor league deal last May.

Leibrandt is turning 32 in December, so he’d be a late bloomer if he can unlock something at this stage of his career and catch on as a reliable big league pitcher.  However, the Yankees have had a solid recent track record at getting results out of unheralded pitchers, and Leibrandt’s seven percent career walk rate in the minors is a hint that he might possess MLB-caliber control.  There’s no risk for the Yankees in bringing Leibrandt to Spring Training and seeing what he can offer as a southpaw depth arm for the bullpen.

Hal Steinbrenner To Meet With Boras/Soto

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Yankees owner Hal Steinbrenner is scheduled to fly to Southern California for an in-person meeting with Juan Soto and agent Scott Boras, report Mark W. Sanchez and Jon Heyman of the New York Post. The Post reports that the sit-down will occur in about a week a half — a few days after Boras and Soto welcome Mets owner Steve Cohen.

Boras suggested at this week’s GM Meetings that Soto plans to meet with the ownership group of every team that is pursuing him. That made it an inevitability that he’d sit down with each of Cohen and Steinbrenner. The Yankees and Mets are the two most obvious suitors for the market’s top free agent.

Plenty of teams would love to bring Soto into the fold. Heyman reported last week that at least 11 teams had reached out to Boras to express interest — the Giants, Dodgers, Blue Jays and Red Sox among them. Still, there’s speculation throughout the industry that Soto is likeliest to land with one of the New York teams. Boras has publicly stated that Soto is willing to sign anywhere. Saying otherwise wouldn’t do his market any favors, of course.

Phillies owner John Middleton opined today that the bidding may come down to the Yankees and Mets. “I’m afraid Juan Soto wants to be in New York, and I don’t mind being a stalking horse,” Middleton told Conor Smith of the Philadelphia Inquirer. “At some point, if [president of baseball operations Dave Dombrowski] and I get that feeling, we’ll probably say, ‘You know what, we’re not going to win this’ because we’ve both been the stalking horse before. And if I were an agent, I would do it too. It’s perfectly good strategy. I mean, it’s smart. But at the end of the day, I just think he likes New York.“

Blue Jays, Orioles, Red Sox Interested In Max Fried

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Left-hander Max Fried is one of the top pitchers available in free agency this offseason. The Blue Jays are one of the clubs with interest, per Ben Nicholson-Smith of Sportsnet. Fried is also connected to the Jays by Jon Heyman of The New York Post, alongside the Orioles and Red Sox. Heyman also mentions that Yankees have checked in with Fried, as well as guys like Corbin Burnes, Blake Snell, Sean Manaea, Anthony Santander and Pete Alonso, but all of those are framed as secondary to their goal of bringing Juan Soto back to the Bronx. For Boston, they have interest in another lefty starter, with Sean McAdam of MassLive reporting they are involved with Garrett Crochet of the White Sox. On the Fenway Rundown podcast (X link), McAdam also identifies the Orioles, Padres and Dodgers as key contenders for Crochet.

Fried, 31 in January, has tossed 884 1/3 innings for Atlanta in his career. In that time, he allowed 3.07 earned runs per nine. His 23.9% career strikeout rate and 6.8% walk rate are both a bit better than average while his 54.4% ground ball rate is quite strong. Among pitchers with at least 850 innings tossed from 2017 to 2024, only Framber Valdez, Logan Webb and Marcus Stroman had a higher ground ball rate than Fried. Of those four, Fried had the highest strikeout rate in that stretch while only Webb had a lower walk rate.

The lefty has also been fairly durable in that time. From 2019 to 2024, he made 11 starts in the shortened 2020 campaign and tossed at least 165 innings in each full season of that stretch except for 2023. Fried has also added another 67 postseason innings as Atlanta has been a fixture of the playoffs during his career. A forearm strain did limited him to 14 starts in 2023, which is perhaps a concern. An inflamed nerve in that same forearm caused him to miss a few starts in 2024 as well, but he was still able to take the ball 29 times and log 174 1/3 innings with a 3.25 ERA.

Atlanta gave Fried a qualifying offer that he is sure to reject while looking for a notable long-term pact. MLBTR’s recent Top 50 Free Agents post predicted Fried for a $156MM deal over six years, the third pitcher on the list behind Burnes and Snell.

Given his track record of success, he’s sure to be popular in the coming weeks and months. It was reported earlier this week that the Jays are planning to pursue starting pitching. They have three established veterans in their rotation, with José Berríos, Kevin Gausman and Chris Bassitt all under contract for next year. Bowden Francis has seemingly earned a gig as well after he posted a 1.80 ERA over his final 11 appearances in 2024.

They have Yariel Rodríguez and Jake Bloss as options for the #5 spot but there’s sense in adding depth. Rodríguez also pitched out of the bullpen at times in 2024 and could be pushed there to begin next year. Bloss only has three big league starts and hasn’t pitched much in the minors either, so having him on optional assignment would make sense. Alek Manoah could theoretically be back in the mix but likely not until late in the year, as he underwent UCL surgery in June.

RosterResource estimates the Jays are about $20MM shy of last year’s payroll, though they could non-tender some of their nine arbitration-eligible players to give themselves more room. Team president Mark Shapiro has indicated that he doesn’t expect the club’s spending to deviate significantly from last year. Giving Fried $26MM per year or something close to it would seemingly use up a decent chunk of their spending power. They also have needs on the infield, in the outfield and in the bullpen. The trade market could help in some of those areas but they will have to assess how to direct their resources in addressing multiple parts of the roster.

The Baltimore rotation just took a big hit as Burnes became a free agent, leaving them with Zach Eflin, Grayson Rodriguez and Dean Kremer as their front three. Kyle Bradish had Tommy John surgery in June and can’t be counted on for a while. Guys like Trevor Rogers or Albert Suárez could fill out the back but there’s sense in pursuing upgrades. Rogers struggled after being acquired from the Marlins while Suárez is a 35-year-old journeyman. Prospects like Chayce McDermott and Cade Povich haven’t yet been established in the major leagues.

The major question for the Orioles this offseason is what their true spending power is. It has now been over six years since they have given a multi-year deal to any free agent. Their four-year deal for Alex Cobb in March of 2018 was the last time they went beyond a one-year pact on the open market, as shown on MLBTR’s Contract Tracker.

Now that their rebuild is long done and David Rubenstein’s purchase of the club has become official, the general expectation is that the O’s will break that streak. But that could come in various forms, such as a two-year deal for someone like Nathan Eovaldi or a three- or four-year pact for someone like Manaea. It’s difficult to say right now whether they plan to be aggressive enough to land someone like Fried or perhaps re-sign Burnes.

For the Red Sox, chief baseball officer Craig Breslow recently said that the club plans to “raise the ceiling” in the rotation. They have a core group of Tanner Houck, Brayan Bello and Kutter Crawford at the moment. Lucas Giolito will be back at some point after undergoing internal brace surgery on his elbow in the middle of March last year. Nick Pivetta is now a free agent but is currently deciding whether or not to accept the qualifying offer that the Sox gave him. Garrett Whitlock could be in the mix but he could also wind up in the bullpen. Quinn Priester, Cooper Criswell and Richard Fitts are possibilities but could also wind up in the minors or in the ’pen.

It appears that the Sox are setting their sights high in pursuing upgrades of that group, with Fried and Crochet both being quality pitchers. Crochet’s move from the bullpen to the rotation in 2024 could hardly have gone better, as he ultimately tossed 146 innings with a 3.58 ERA, 35.1% strikeout rate, 5.5% walk rate and 45.1% ground ball rate.

The rebuilding White Sox have little reason to hold onto him, as Crochet is now just two years away from free agency. Since the White Sox just wrapped up the worst season of the modern baseball era, they probably won’t return to contention in that time. There’s been little to indicate that a contract extension is likely, so Crochet is seen as one of the top trade candidates of this offseason. He is projected by MLBTR contributor Matt Swartz for a salary of just $2.9MM next year, meaning he could fit into the budget of any club.

White Sox general manager Chris Getz says the the club is targeting position players in their Crochet trade talks. That could allow them and Boston to line up on a deal, as the Red Sox have a group of prospects known as the “Big Four”. Each of Roman Anthony, Kristian Campbell, Marcelo Mayer and Kyle Teel are nearing their major league debuts, meaning Boston either needs to find space for them on the big league roster or perhaps make them available in trades. McAdam suggests Anthony is untouchable but is less certain about the others in that group.

The White Sox will naturally have to assess what the Red Sox are willing to give up, as well as the other clubs. The Orioles have had one of the best farms in baseball in recent years, though it’s probably not as strong as it was. Many of the top names are now on the big league roster or have been used in trades as the club has pivoted into win-now mode.

The Padres’ interest in Crochet is logical both because they seem to be interested in everybody and also because they have budgetary concerns. Last winter’s Soto trade was largely about cutting payroll and getting the club under the competitive balance tax in the wake of their TV deal falling apart. Per RosterResource, their projected 2025 spending is already slated to blow past last year’s levels and they are right around the CBT line before the offseason has really even begun in earnest. Their rotation took a big hit when Joe Musgrove required Tommy John surgery, so replacing him with someone cheap like Crochet is obviously appealing.

The Dodgers pursued Crochet at the deadline a few months ago but no deal came together. They eventually won the World Series despite their rotation being essentially whittled down to a trio of Jack Flaherty, Yoshinobu Yamamoto and Walker Buehler. Both Flaherty and Buehler are now free agents. The Dodgers will get other guys back in the mix as they heal from injuries, such as Tyler Glasnow and Tony Gonsolin, but they could definitely find space for Crochet.

They have also been repeat CBT payors and therefore face high penalties. Per RosterResource, they are already slated to have a CBT number of $272MM next year, not far from the third tier of penalization with still plenty of offseason left to go.

As for the Yankees, the entire baseball world knows that their top priority is bringing back Soto, which will likely cost something close to $50MM per year for over a decade. If they don’t end up succeeding in bringing Soto back, they will have lots of options for redirecting that money to other parts of the roster. First base is open with Anthony Rizzo becoming a free agent. Soto’s departure would also make it viable to go after another outfielder. The club seemingly considered acquiring Flaherty at the deadline and then dealing Nestor Cortes, so some version of that could be in play again this offseason.

Theoretically, that makes Fried, Alonso, Santander or many other players viable fallback options, but it seems like those will only get real consideration after there’s more clarity with Soto. At this early stage of the offseason, there are infinite possibilities and each development will have domino effects. If some club lands Crochet, the clubs that miss out will have to pivot to other options. The clubs that don’t land Fried will have to adapt as well, as the various pieces of the free agent market and trade market are all interconnected.

Yankees Exercise Club Option On Manager Aaron Boone

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The Yankees announced Friday that they’ve exercised their 2025 club option on manager Aaron Boone. He’ll return for an eighth season as the club’s skipper next year.

“Aaron is a steadying presence in our clubhouse and possesses a profound ability to connect with and foster relationships with his players,” GM Brian Cashman said in a statement within this morning’s press release. “Consistently exhibiting these skills in such a demanding and pressurized market is what makes him one of the game’s finest managers. Our work is clearly not done, but as we pursue the ultimate prize in 2025, I am excited to have Aaron back to lead our team.”

The 2024 season saw Boone’s Yankees post a 94-68 record en route to their third AL East title in seven years under his watch. It was the fifth time in six 162-game seasons that a Boone-led Yankees squad won at least 92 games. The Yanks also won their first American League pennant under Boone this past season. Of course, the season still ended in heartbreak for the Yankees, who fell 4-1 against the Dodgers in the World Series, squandering a 5-0 lead in large part due to one of the most painful innings in franchise history.

Boone and the Yankees were attempting to become the first club in MLB history to erase a 3-0 World Series deficit. No team who’d fallen behind 3-0 in the World Series had so much as forced a Game 6. The Yankees looked on their way to doing just that with five early runs against the Dodgers and Gerrit Cole on the mound, but they coughed up five runs in the fifth inning following errors by Aaron Judge and Anthony Volpe as well as a defensive lapse that saw first base left uncovered on a grounder to Anthony Rizzo.

Brutal as that one inning was, it won’t sour the organization on the notion that Boone is the right person to steer the ship next year. Whether the two parties discuss an extension remains to be seen. The Yankees allowed Boone to navigate an entire season as a lame-duck skipper in 2021 before re-signing him to a three-year deal that October. As pressure for an elusive World Series trophy continues to mount, it’s at least possible that the Yankees could wait until next offseason before making their decision on whether Boone is right for the job in 2026 and beyond.

“I am grateful for the trust placed in me to lead this team. It’s a responsibility – and an opportunity – that I will never take lightly,” Boone said in his own statement. “It’s a great privilege to show up for work every day and be surrounded by so many determined and talented players, coaches and staff members. Starting with Steinbrenner family, there is a collective commitment to excellence within this organization that is embedded in all that we do.  I’m already looking forward to reporting for spring training in Tampa and working tirelessly to return the Yankees to the postseason to compete for a World Championship.”

Under Boone, the Yankees have played at a 603-429 pace. That .584 winning percentage has resulted in postseason berths in six of seven seasons. Much of the Yankees’ 2025 outlook will be dependent on how the offseason plays out. They appear barreling toward a bidding war over Juan Soto and have potential needs at multiple infield spots and in the bullpen as well.

Rays Among Teams To Have Reached Out To Soto

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The Rays are among the teams that have reached out to Juan Soto’s camp since the opening of free agency last week, writes Jon Heyman of the New York Post. Heyman lists a much less surprising additional six teams that have shown interest: the Yankees, Mets, Dodgers, Giants, Blue Jays and Red Sox.

The mere mention of the Rays as a possible Soto suitor is going to be met with plenty of skepticism. It’d be a shock if they made a legitimate push for the market’s top free agent. The Rays have tried to land an elite free agent at least once before, as they reportedly made an offer in the $150MM range to Freddie Freeman before he signed with the Dodgers. That wasn’t too far off the price Freeman ultimately landed, but any offers to Soto would be in a different stratosphere. He should handily top $500MM and could secure a contract between $600MM and $700MM.

While it’s fair to assume the Rays themselves aren’t optimistic about their chances, this is illustrative that they have some money to at least dabble in the middle of free agency. The Rays opened this past season with a payroll around $98MM, per Cot’s Baseball Contracts. They’ve got a little less than $40MM in guaranteed commitments for next year (assuming Wander Franco remains on the restricted list and is not paid). Their arbitration class is projected around $25MM, though they could knock that to the $15MM range with a few non-tenders. Trades of Brandon Lowe or Yandy Díaz would subtract another $10.5MM or $10MM, respectively.

None of that is to say they should be perceived as a realistic threat to the big-market teams on Soto. They’ll probably be more active in free agency than many fans might expect given their general spending habits, though. Another mid-tier strike akin to the $40MM Zach Eflin deal from two offseasons ago could be on the table. Any free agent pursuits are complicated by their uncertain stadium situation after Tropicana Field was severely damaged by Hurricane Milton.

The other teams known to have some interest in Soto are all expected. The Yankees and Mets are widely perceived as the favorites. The Dodgers are at least tied to virtually every free agent of note. The news that Mookie Betts is likely moving back to the middle infield is going to fuel speculation about L.A. making a run at Soto. Giants baseball operations president Buster Posey has spoken about wanting to land a star. The Blue Jays were in the running for Shohei Ohtani last winter. The Red Sox have indicated they could be more active in free agency than they’ve been over the past few winters, although a splash in the rotation market seems much likelier than them landing Soto.

The New York Post reported last week that 11 teams had been in contact with Soto’s reps at the Boras Corporation on the first day of the offseason. That leaves at least four unknown clubs, though Heyman casts some doubt on the Nationals and Cubs as possibilities. Heyman suggests that Washington is unlikely to spend at the level necessary to bring Soto back. He writes that Chicago’s offseason plans are more geared towards pitching at the moment.

Soto’s free agency should carry for multiple weeks. USA Today’s Bob Nightengale wrote this afternoon that the four-time All-Star plans to have an in-person meeting with the ownership group of each team making a serious pursuit.

Yankees Outright Duke Ellis

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The Yankees announced that outfielder Duke Ellis went unclaimed on waivers. He neither has the requisite service time nor the previous outright necessary to become a minor league free agent.

Ellis, a Texas product, is a speedster who bounced around as a depth option. He played with the White Sox and Yankees this season and also spent time in the Seattle and Mets systems. Ellis got into 11 regular seasons games, mostly as a pinch runner. He collected his first big league hit in five at-bats. The Yankees gave him one more pinch-running appearance in October.

The 26-year-old will remain with Triple-A Scranton/Wilkes-Barre and should be in camp next spring as a non-roster invitee. Ellis has a middling .237/.323/.337 batting line in his minor league career, but his speed and ability to play all three outfield spots give him a chance to crack the roster as a fifth outfielder.

13 Players Receive Qualifying Offers

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Today is the deadline for teams to decide whether or not to issue qualifying offers to eligible players. Per Jeff Passan of ESPN on X, 13 players have received the QO and they are:

As a recap, the qualifying offer system was created in the name of competitive balance, allowing clubs to receive compensation if key players depart via free agency. The value changes from year to year as it is the average of the salaries of the 125 highest-paid players in the league. This year’s QO is valued at $21.05MM.

If the player rejects the QO and signs elsewhere, his previous team receives draft compensation while his new club is subject to draft pick forfeiture and sometimes international bonus penalties as well. MLBTR has previously covered what each team’s compensation and penalties would be.

Players have until 3pm Central on November 19 to decide whether to accept or not. In that time, they are free to negotiate with other clubs just like all other free agents, assessing their options before making a decision.

Most of the players on this list are not surprising. Many of them have enough earning power where it was obvious that they would receive a QO and they have an easy decision to reject it while going on to pursue larger guarantees on multi-year deals. Some of the decisions were a bit more borderline and MLBTR took closer looks at those in separate posts, including Martinez, Pivetta and Severino/Manaea.

There were also some notable players who were candidates to receive a QO but ultimately didn’t. MLBTR recently took a look at the pitchers and position players with a chance at receiving a QO. Michael Wacha was listed as a possibility but that came off the table when he and the Royals agreed to a new deal yesterday. Shane Bieber of the Guardians, Jeff Hoffman of the Phillies, Paul Goldschmidt of the Cardinals, Tyler O’Neill of the Red Sox, Gleyber Torres of the Yankees, as well as Ha-Seong Kim and Jurickson Profar of the Padres were all identified as long shots to receive a QO and ultimately none of them did.

Clubs generally don’t want to lose draft picks or be subject to the other associated penalties. As such, receiving a QO can sometimes have a negative impact on a player’s prospects in free agency, though it won’t be a significant factor for the top guys.

Gerrit Cole To Return To Yankees

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Right-hander Gerrit Cole will return to the Yankees, per Jon Heyman of The New York Post on X. Going into 2020, Cole and the Yankees signed a nine-year deal with a $36MM salary in each season, a $324MM guarantee. That deal gave Cole the ability to opt out after 2024, but the Yankees could negate that opt-out by adding yet another $36MM season for 2029. He did indeed trigger that opt-out a few days ago, forcing the Yankees to decide whether or not they wanted to add the extra year. Essentially, they would be deciding between letting Cole become a free agent versus keeping him around for five years and $180MM. Per Jeff Passan of ESPN on X, Cole will remain with the four guaranteed years and $144MM as though he did not trigger his opt-out, but extension conversations will continue.

For the first four years of the deal, Cole continued to perform at an ace level and it seemed like a slam dunk that he would trigger that opt-out but the Yanks would add the final year and keep him around. That was the general consensus one year ago when Cole won the 2023 American League Cy Young award after posting a 2.63 ERA in 209 innings over 33 starts.

But one year later, much has changed, which made the respective decisions more interesting. Cole was shut down during spring training this year with some elbow inflammation. No structural damage was found but his non-surgical rehab kept him on the shelf until June. He returned and posted strong results, but not quite as good as before the injury.

He eventually made 17 starts on the year with a 3.41 ERA. There might have been a bit of rust after the injury layoff, as he had a 6.75 ERA in his first four outings but a 2.67 in the final 13. He then posted a 2.17 ERA over his five postseason starts.

That injury-shortened season made is somewhat debatable as to whether Cole should walk away from the four years and $144MM left on his deal but he ultimately felt confident in doing so, forcing the Yankees into making a call.

Cole has been their ace but there were at least some arguments for them letting him go. Generally speaking, a free agent deal provides the best return on investment at the beginning, while the later years tend to be more painful. Getting a chance to walk away before it starts to hurt is going to have some appeal to a team, especially one that wants powder dry to bring back Juan Soto.

Beyond that, Cole’s strikeout rate declined this year, perhaps due to the injury but it was the fourth straight year of that trend. He punched out 33.5% of batters faced in 2021, 32.4% in 2022, just 27% in his Cy Young year and 25.4% this year. Each of his pitches in 2024 was about one mile per hour below their ’23 levels, per Statcast. Though his playoff results were good as the Yanks charged to the World Series, he actually only struck out 17.7% of batters faced.

Without Cole, the Yankees would have been going into the winter with a rotation of Carlos Rodon, Nestor Cortes, Clarke Schmidt, Luis Gil and Marcus Stroman, with Will Warren and other prospects around as depth. They could have used the extra $36MM of payroll capacity to pursue Soto while also considering reuniting with Cole or perhaps going after younger free agent starters like Corbin Burnes, Blake Snell, Jack Flaherty or Max Fried.

It seems as though the two sides may have discussed some alternate arrangements but wanted more time to hammer them out, so Cole has essentially agreed to rescind his opt-out decision. He will stay on the Yankee roster at the same terms of his previous deal, perhaps allowing him and the Yankees to work out some new deal without the ticking clock of today’s deadline for decisions on options and opt-outs.

At this point, it’s unclear if the two sides expect to work out a new deal shortly or well into the offseason. If the latter is the case, then the club will pivot towards it’s other offseason priorities, headlined by the desire to get Soto back into the fold.

The main takeaway here is that Cole will be staying in pinstripes, with the contractual stuff to be worked out another day. With him back in the rotation, now perhaps the Yankees will consider further moves to augment their rotation. They reportedly had interest in Snell last winter and could circle back to him this offseason. They almost traded for Flaherty at the deadline and might pursue him as a free agent. There were some trade rumors surrounding Cortes this year, so perhaps those could pop up again in the coming months. Stroman got bumped to the bullpen late in the year and might make more sense on the trading block, allowing the Yankees to free up some payroll for other pursuits.

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