2:10pm: Minor league catcher Edgleen Perez is also in the trade, reports Passan. Francys Romero adds that minor league outfielder Brian Sanchez is the third player going back to Pittsburgh.
1:55pm: Catching prospect Rafael Flores is headed to the Pirates in the deal, FanSided’s Robert Murray reports. Pittsburgh will receive two additional prospect as well, Jon Heyman of the New York Post adds.
1:50pm: The Yankees are finalizing a trade to acquire closer David Bednar from the Pirates, reports ESPN’s Jeff Passan. Ken Rosenthal of The Athletic reported earlier that the two sides were discussing a swap. The Yankees and Pirates are currently reviewing the medical records of the players in the deal, Rosenthal now adds.
Bednar, 30, is one of the top controllable relievers on the market. The hard-throwing 6’1″ righty is making $5.9MM this season and is under club control for one more year. He’s owed about $1.87MM of that sum for the balance of the season, though the Yankees will have to pay a 110% luxury tax on him, making the total financial outlay closer to $3.9MM.
Yankees relievers have been mediocre on the season overall, sitting 21st in the majors with a 4.24 ERA. However, they’ve been the second-worst group in baseball over the past month, recording a 6.29 ERA that’s worst in the American League and leads only the Rockies among all 30 teams. Struggles from Devin Williams and Luke Weaver have played a significant role, and the Yankees have also been without Fernando Cruz and Mark Leiter Jr. in that time. Cruz has an oblique strain, and Leiter has a stress fracture in his fibula.
Bednar, a two-time All-Star, will provide some much-needed support. Although he struggled through a brutal 2024 season and had a rough start to his 2025 campaign, those hardships feel like a distant memory. The Bucs optioned him to Triple-A in late March, and Bednar has been an absolute behemoth since returning. In 37 frames, he’s posted a dazzling 1.70 ERA with a 34.5% strikeout rate and 5.5% walk rate. It’s some of the best work of Bednar’s career — even better than what had been a 2021-23 peak that saw him post a combined 2.25 ERA, 31.2% strikeout rate and 7.7% walk rate.
Bednar is averaging 97.1 mph on his heater this season. His curveball, the righty’s go-to secondary pitch, is sitting nearly 20 mph slower. Bednar also features a splitter that’s averaging 92.3 mph this year. He’s used that arsenal to induce chases off the plate at an excellent 34.4% clip and garnered a 12.7% swinging-strike rate as well. Left-handed opponents, in particular, have been flummoxed by Bednar. They’re hitting just .162/.240/.276 against him. His mastery over lefties is all the more important, given Yankee Stadium’s short right-field porch.
That Bednar is controllable for an additional season surely holds extra appeal for the Yankees, given that both Weaver and Williams are both set to reach free agency at season’s end. Bednar can pitch in any high-leverage role necessary in 2025 and could step into the ninth inning for the 2026 season, depending on whether Williams and/or Weaver are retained.
Flores, 24, is the big get for the Pirates in return. He ranked eighth among Yankees prospects on Baseball America’s recent update on their system. He opened the season at the Double-A level and ripped through opposing pitchers at a .287/.346/.496 clip (146 wRC+) before being recently promoted to Triple-A. He’s hitting just .211/.288/.289 there, but that’s in a tiny sample of 49 plate appearances. Overall, Flores is hitting .279/.351/.475 between the two levels. He’s never had a below-average year offensively in the minors.
Flores has already popped 16 homers on the season, leaving him just five shy of his career-high mark. He’s listed at 6’4″ and 230 pounds, making him on the larger end for a catcher. He’s viewed as more of a bat-first option whose calling card is raw power, and Flores has accordingly spent a fair bit of time at first base as well.
The Pirates have been searching for a catcher of the future for what feels like an eternity. They selected Henry Davis with the No. 1 pick in the 2021 draft and acquired both Endy Rodriguez and Joey Bart via trade in recent years. They’ve also cycled through veterans like Jacob Stallings, Elias Diaz and several other journeymen over the course of the past five to six years. Despite the sizable investment and cast of rotating characters, none have managed to stick.
It’s a similar situation at first base. Neither Davis nor Rodriguez has staked a claim to the position. Pittsburgh acquired Spencer Horwitz over the winter in hopes that he could hold the position down for years to come. It’s too early to firmly pass judgment on that acquisition, particularly after Horwitz missed the first few months of the season due to wrist surgery, but his .252/.323/.359 batting line through his first 229 plate appearances surely isn’t what the Pirates had hoped to see. Flores adds another possible option to the mix in the long term, though the Bucs will hope that he can handle catching work while Horwitz improves his production at first base.
The other two players in the swap are further from big league readiness. Perez, 19, has spent the season with the Yankee’s Class-A affiliate. He’s turned in a disappointing .209/.368/.236 batting line in 380 trips to the plate. He’s a considered a solid defensive catcher and still ranked 16th among Yankee prospects at BA despite his struggles this year, due in large part to his glove and his exceptional pitch recognition. As Baseball America points out in their scouting report, he chased off the plate than any player in the minors last year (just 7.7%). Perez walked in nearly 21% of his plate appearances last season and is at 17.9% in 2025.
If Perez can begin to hit the ball with more authority as he fills out physically, he has the potential to be an OBP-focused hitter who can stick behind the plate. He has below-average power, but players with this type of discipline and swing decisions can still be impactful, particularly if they’re playing serviceable defense behind the plate.
Sanchez, 21, ranked 24th on BA’s update of the Yankees’ system. He’s having a nice season in A-ball, hitting .281/.373/.438 with four home runs, 16 doubles, five triples and 24 steals (in 28 attempts). He’s drawn a walk in 12.6% of his plate appearances against a 23.4% strikeout rate. He’s an above-average runner who’s capable of handling center field and could likely be above-average in the corners.
None of the three players acquired by the Pirates are on the 40-man roster, though they’ll need to add Flores to the 40-man before mid-November in order to protect him from this year’s Rule 5 Draft. Neither Perez nor Sanchez needs to be protected until the 2027-28 offseason. Adding a near-MLB-ready catcher/first baseman and a pair of mid-range prospects from the Yankees’ system is a fine return in and of itself, though there’ll surely be a contingent of Pirates fans frustrated by the team’s repeated inability to secure long-term options at these positions — and that said inability has led them to expend another high-end trade chip in an effort to do so.
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