NEW YORK — The New York Yankees’ offseason has started earlier than they hoped. They lasted a week into October before the Toronto Blue Jays eliminated them from the postseason by winning Game 4 of the American League Division Series 5-2 and embarrassing them at Yankee Stadium with a wild on-field celebration.
For Yankees fans, there will be anger. There will be disappointment. Many may never accept that manager Aaron Boone’s club followed its 2024 World Series run with such a letdown or that another historic year from Aaron Judge was wasted.
General manager Brian Cashman, however, will need to have a short memory. Here are three of the biggest questions he’s facing this offseason.
What’s Boone’s future?
Aaron Boone has two more years remaining on his contract. He’s expected to be back. (Kevin C. Cox / Getty Images)
The calls for Boone to be fired would have been much louder if they had lost to the Boston Red Sox in the Wild Card Series or been swept by the Blue Jays. The heat from the public should be turned down on Boone. Expect the Yankees to treat this offseason much like any other in recent history, running back their operation.
Sure, if there were a box score for Boone’s career as Yankees manager, it would read 0-for-8. Zero rings. Eight years. If the Yankees had known that would be the result before they hired Boone, they would have looked elsewhere. Or kept Joe Girardi.
But even with the Yankees’ early exit, there have been no signs Cashman is even considering a change. On Aug. 15, Cashman said Boone was “doing an amazing job of working through” the Yankees’ summer swoon.
“I think it takes a certain character and abilities to try to manage a group of 26 guys,” the GM added, “especially in a big market, through difficult times.”
Cashman believes Boone has that character. Boone also appears to have the backing of two enormous voices: owner Hal Steinbrenner and superstar Aaron Judge, who have defended him at every turn. And though the Yankees disappointed for stretches this season, they finished 94-68, tied for the best record in the AL. Boone’s .584 regular-season winning percentage is the second-best among active managers, behind only the Los Angeles Dodgers’ Dave Roberts (.621).
Boone has two more years remaining on his contract. By the time it ends, he’ll have spent 10 years as Yankees manager. Joe Torre and Girardi each spent 10 years on the job before Cashman made a change. In December 2020, Cashman said he hoped to have “10 more years with Boone.” Cashman seems likely to stay the course.
Which of their free agents will return?
The Yankees have eight players who are unrestricted free agents: Paul Blackburn, Paul Goldschmidt, Trent Grisham, Amed Rosario, Austin Slater, Luke Weaver, Devin Williams and Ryan Yarbrough. They have two players who have a club option: Tim Hill ($3 million) and Jonathan Loáisiga ($5 million). Cody Bellinger has a $25 million player option that he’ll almost certainly decline to pursue a long-term deal.
Goldschmidt will not be re-signed, as Ben Rice is the club’s first baseman of the future. Slater injured his hamstring and did not perform after returning. He was left off the wild-card roster and the ALDS roster, and he likely won’t be back. After bumpy 2025 seasons for Weaver and Williams, re-signing both seems improbable. Signing relievers to pricey contracts has not been something the Yankees have done lately. Yarbrough ended up being a quality signing as a depth option, but that’s all he is at this stage of his career.
That leaves Rosario, Blackburn and Grisham as the three unrestricted free agents who could return in 2026. The Yankees have targeted Rosario for the past few offseasons as a bench option. With José Caballero and a backup catcher (J.C. Escarra?) locked in as two of four bench options, maybe the Yankees will bring back Rosario. If Caballero and Rosario are on the roster in 2026, it might mean Oswaldo Cabrera does not have a spot. That could mean he is either traded or stashed in Triple A because both veterans are utility players like him.
There was some surprise two years ago when the Yankees re-signed Weaver after his brief tenure in 2023. That turned out to be a steal of a contract for the Yankees. Could Blackburn be that player this offseason? He had a strong September, pitching 10 innings, allowing six hits and racking up 14 strikeouts after the club changed his arsenal.
Grisham’s offseason outlook is fascinating. He had a career year, hitting 34 home runs and posting a 129 wRC+. Among all primary center fielders this season, Grisham’s 129 wRC+ was the second-best. But there is risk in giving Grisham, who will be 29 next season, a long-term deal. He has never had a season like this, but his contact quality metrics suggest this production was not a fluke, although his inability to hit off-speed and breaking pitches doesn’t help his case. His defense in center field is overrated because he’s one of the slower players at the position. A further drop in athleticism would force him to move to a corner outfield spot.
The Yankees could offer Grisham the qualifying offer, which would be a one-year, $22 million contract if he accepts. If he declines and becomes a free agent, his market might be limited because of the penalties associated with signing a player who has a QO attached. Grisham’s accepting the QO wouldn’t be the worst outcome for the Yankees because it would give Spencer Jones, who was promoted to Triple A this season, more time to demonstrate whether he’s a long-term option at the major-league level. The same applies to Jasson Domínguez.
Hill’s option will likely be exercised; there’s no reason for the club to part ways with him. The Yankees will almost certainly decline Loáisiga’s contract after another injury-filled season.
Will the Yankees sign Bellinger or Tucker?
The biggest offseason question for the Yankees is how aggressively they’ll try to upgrade their roster. Boone has said on multiple occasions that this year’s team was the best he’s had in his eight seasons.
Bellinger was a major part of the Yankees’ success this year, posting the highest fWAR (4.9) since his 2019 MVP season. Bellinger can play all three outfield positions, and his pull-heavy approach allows him to outperform his poor contact quality metrics. Bellinger, whose agent is Scott Boras, won’t settle for any team-friendly deals. But he’ll be cheaper than Tucker, the best free agent on the market.
Tucker had a down season by his standards, and he still posted a 136 wRC+ for the Chicago Cubs. Playing half of his games at Yankee Stadium could help make Tucker a perennial top-10 hitter in the sport. A key difference between the two players is their likely cost. Tucker could receive a contract worth $200 million more than Bellinger, which might mean Steinbrenner says Bellinger is a more palatable option for his club.
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