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Post by 1955nyyfan on May 23, 2024 9:46:14 GMT -5
Yankees owner Hal Steinbrenner warns of lower payrolls after 2024: 'Simply not sustainable for us financially'
It's unclear how Steinbrenner's cheap goals will affect the team's pursuit of a long-term deal with Juan Soto
The big question for the New York Yankees right now is whether they can make good on their current World Series aspirations. The biggest upcoming question is whether they can re-sign star slugger Juan Soto either before or after he reaches free agency this winter. Unfortunately for the Yankees and their partisans, owner Hal Steinbrenner has much to do with how those questions will be answered.
"Unfortunately" is the word choice because Steinbrenner seems all too forgetful of how vast the club's resources are. Via Dan Martin of the New York Post, here's what Steinbrenner said on Wednesday at the owners' meeting:
"I'm gonna be honest, payrolls at the levels we're at right now are simply not sustainable for us financially. It wouldn't be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay.''
The word sustainable is misapplied here because this is, to repeat, the New York Yankees. The Yankees could run much higher payrolls and comfortably satisfy any notions of sustainability. If there's good news it's that Steinbrenner notes that a good deal of payroll will be coming off the books this coming offseason and that could make a re-signing of Soto fit within his particular notions of sustainability. Beyond Soto, looming free agents include Alex Verdugo, Gleyber Torres, Clay Holmes, Tommy Kahnle and Jonathan Loáisiga.
The Yankees this season have a payroll in excess of $300 million, which indeed puts them deep into luxury-tax territory. However, they'll slough off almost $100 million in salary at season's end. That clears the decks for a Soto re-up, but it should make Yankees fans wonder whether Steinbrenner would be willing to address other roster needs if Soto winds up back in the fold.
Really, payroll hand-wringing is not something the owner of the Yankees should be indulging in because there's no real way to run the Yankees and somehow manage to lose money. It's enough to make one suspect that Steinbrenner's greatest goal perhaps isn't winning the World Series but instead might be something more "balance sheet-oriented" in nature.
This is a really odd time to be making this statement with the club supposedly pursuing a long term deal with Soto. I took a quick peek at 2025 salary and it is 202mm with 9 players signed. This confused me a bit because I thought we had more than 9 players signed for next year but perhaps they are arbitration eligible. Players like Volpe, Schmidt and Cortez to name a few are relatively cheap and will undoubtably get salary increases. Interesting to note we are still paying Hicks. I'm having a hard time understanding how we will be able to sign Soto, reduce payroll and stay competitive. I guess it's possible if we have another influx of young players like Dominguez and find a cheap replacement for Rizzo, move on from Torres and maybe move a veteran but with his comment Hal may be painting himself into a corner and I'm not sure how this impacts the Soto talks. |
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Post by rizzuto on May 23, 2024 10:23:51 GMT -5
Yankees owner Hal Steinbrenner warns of lower payrolls after 2024: 'Simply not sustainable for us financially'
It's unclear how Steinbrenner's cheap goals will affect the team's pursuit of a long-term deal with Juan Soto
The big question for the New York Yankees right now is whether they can make good on their current World Series aspirations. The biggest upcoming question is whether they can re-sign star slugger Juan Soto either before or after he reaches free agency this winter. Unfortunately for the Yankees and their partisans, owner Hal Steinbrenner has much to do with how those questions will be answered.
"Unfortunately" is the word choice because Steinbrenner seems all too forgetful of how vast the club's resources are. Via Dan Martin of the New York Post, here's what Steinbrenner said on Wednesday at the owners' meeting:
"I'm gonna be honest, payrolls at the levels we're at right now are simply not sustainable for us financially. It wouldn't be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay.''
The word sustainable is misapplied here because this is, to repeat, the New York Yankees. The Yankees could run much higher payrolls and comfortably satisfy any notions of sustainability. If there's good news it's that Steinbrenner notes that a good deal of payroll will be coming off the books this coming offseason and that could make a re-signing of Soto fit within his particular notions of sustainability. Beyond Soto, looming free agents include Alex Verdugo, Gleyber Torres, Clay Holmes, Tommy Kahnle and Jonathan Loáisiga.
The Yankees this season have a payroll in excess of $300 million, which indeed puts them deep into luxury-tax territory. However, they'll slough off almost $100 million in salary at season's end. That clears the decks for a Soto re-up, but it should make Yankees fans wonder whether Steinbrenner would be willing to address other roster needs if Soto winds up back in the fold.
Really, payroll hand-wringing is not something the owner of the Yankees should be indulging in because there's no real way to run the Yankees and somehow manage to lose money. It's enough to make one suspect that Steinbrenner's greatest goal perhaps isn't winning the World Series but instead might be something more "balance sheet-oriented" in nature.
This is a really odd time to be making this statement with the club supposedly pursuing a long term deal with Soto. I took a quick peek at 2025 salary and it is 202mm with 9 players signed. This confused me a bit because I thought we had more than 9 players signed for next year but perhaps they are arbitration eligible. Players like Volpe, Schmidt and Cortez to name a few are relatively cheap and will undoubtably get salary increases. Interesting to note we are still paying Hicks. I'm having a hard time understanding how we will be able to sign Soto, reduce payroll and stay competitive. I guess it's possible if we have another influx of young players like Dominguez and find a cheap replacement for Rizzo, move on from Torres and maybe move a veteran but with his comment Hal may be painting himself into a corner and I'm not sure how this impacts the Soto talks. I agree. Not a smart negotiation technique. A few steps down from a fully operational Deathstar to “can I get one without paint or a stereo, I’ll do that myself.” Hal’s DIY Deathstar. Shareholders rejoice! |
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Post by inger on May 23, 2024 11:10:01 GMT -5
Hal has the summer flu and is suffering from diarrhea of the mouth again… if you can’t afford to have a baseball team, sell it Hal…
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Post by Max on May 23, 2024 11:52:11 GMT -5
I expect the Yankees to re-sign Soto, Cole and then look to save money at other positions. It would be nice if there was room for Dominguez, Soto and Verdugo on the Yankees roster in the future but that would take the Yankees way over the cap. Unless, as I have mentioned many times before... Some player or players sign a deferred contract.
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Post by Max on May 23, 2024 12:04:57 GMT -5
As my Mom would say when she heard the very wealthy complain about money..."They are crying hunger with 2 loaves of bread under their arms".
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Post by donniebaseball23 on May 23, 2024 16:52:54 GMT -5
Looks like we may have dodged a bullet with Blake Snell. He's been dreadful for SF: 0-3, 11.40, 4 GS, 15.0 IP, 22 H, 19/19 R/ER, 9 BB, 17 K, 2.067 WHIP. Went on the IL, and his first start back last night didn't go any better than before...3.1 IP, 4 H, 4/4 R/ER, 4 BB, 5 K. Yikes. I'd think the Giants might be having some buyer's remorse.
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Post by themartian on May 23, 2024 17:50:45 GMT -5
Looks like we may have dodged a bullet with Blake Snell. He's been dreadful for SF: 0-3, 11.40, 4 GS, 15.0 IP, 22 H, 19/19 R/ER, 9 BB, 17 K, 2.067 WHIP. Went on the IL, and his first start back last night didn't go any better than before...3.1 IP, 4 H, 4/4 R/ER, 4 BB, 5 K. Yikes. I'd think the Giants might be having some buyer's remorse. And "Ace" Jordan Montgomery is sporting a 4.98 ERA and striking out a measly 5.2 per 9 innings. |
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Post by rizzuto on May 23, 2024 17:58:38 GMT -5
Looks like we may have dodged a bullet with Blake Snell. He's been dreadful for SF: 0-3, 11.40, 4 GS, 15.0 IP, 22 H, 19/19 R/ER, 9 BB, 17 K, 2.067 WHIP. Went on the IL, and his first start back last night didn't go any better than before...3.1 IP, 4 H, 4/4 R/ER, 4 BB, 5 K. Yikes. I'd think the Giants might be having some buyer's remorse. [br Definitely dodged a bullet, then again Snell never did have great command. |
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Post by chiyankee on May 23, 2024 19:09:38 GMT -5
Maybe the Yankees can trade that Cole guy for a third baseman and some bullpen help.  |
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Post by JEGnj on May 23, 2024 20:08:24 GMT -5
Hal can cry us a river. If they resign Soto that will make millions and millions just off Jersey sales. I won't buy one unless he signs.
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Post by azbob643 on May 23, 2024 20:20:16 GMT -5
Hal can cry us a river. If they resign Soto that will make millions and millions just off Jersey sales. I won't buy one unless he signs. Why would you buy one if he does sign? Yankees don't put player's names on back of jerseys. |
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Post by JEGnj on May 23, 2024 20:56:38 GMT -5
I want a road #22.
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Post by chiyankee on May 23, 2024 21:07:27 GMT -5
Some good pitching matchups this weekend.
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Post by themartian on May 24, 2024 6:38:32 GMT -5
Some good pitching matchups this weekend. Wow, Darvish has a 2.08 ERA! And at 37 years young. |
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Post by noetsi on May 24, 2024 10:14:03 GMT -5
I doubt the steinbrenner family is losing money
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