Major changes at New York Yankees after World Series defeat to the Los Angeles Dodgers

The New York Yankees fell to the Los Angeles Dodgers in the World Series, losing in five games (1-4). Almost immediately, questions emerged around the Bronx Bombers, with speculation mounting over who was responsible for the team’s missed title chance and which players would be leaving the organization with their contracts expiring.

The first confirmed departure, one that had been widely anticipated, is that of Dominican outfielder Juan Soto. Soto shined after joining the Yankees in a midseason trade from the San Diego Padres, but with his contract now expired and no new deal in place, he will test the waters of free agency. Although there’s still a possibility that he could return to New York, several other teams have shown strong interest in signing him.

Other players hitting free agency

In addition to Soto, several other key players are now free agents: infielder Gleyber Torres, Mexican outfielder Alex Verdugo, and relief pitchers Tommy Kahnle, Clay Holmes, Jonathan Loáisiga, and Tim Hill.

With these departures, the Yankees are freeing up about $70 million in payroll. The organization’s budget for next season is expected to be around $200 million, so the Yankees have significant room to maneuver. A top priority will be filling the outfield slots, especially if the team is unable to bring back Soto or Verdugo.

Crucial hours for Gerrit Cole and Anthony Rizzo

The Yankees now face some critical hours as general manager Brian Cashman assesses key decisions. Star pitcher Gerrit Cole has the option to opt out of the remaining four years of his contract, which are valued at $144 million, to enter free agency.

However, the Yankees can counter this move by offering to extend his contract with an additional year at $36 million, bringing the total potential value to $180 million through the 2029 season. Given Cole’s performance as the team’s ace, he could command lucrative offers on the open market, so negotiations will need to happen swiftly if the Yankees want to keep him.

The team also holds a $17 million club option on first baseman Anthony Rizzo, with a buyout clause of $6 million.