The New York Yankees have been one of the biggest spenders in baseball history, but heading into the 2023 MLB trade deadline, a new report claims the team plans to somehow cut costs and try to get better.
This has been a very frustrating season for New York Yankees fans. Despite bringing back the majority of the roster that won 99 games in 2022, the team heads into the weekend shockingly in last place in the American League East. Yet, that isn’t a completely ridiculous position because the team has the bad luck of being in by far the best division in the sport.
Related: New York Yankees reportedly could soon become sellers: 5 players likely up for grabs at deadline
Furthermore, while the Yankees are only three games over .500, they are just three and a half out of the final Wild Card spot and still very much in the thick of the playoff race despite their injury and production struggles. New York and general manager Brian Cashman have always been active at the trade deadline and have developed a reputation for making savvy and impactful moves each year. However, that may change in a major way in 2023.
New York Yankees reportedly want to cut costs before MLB trade deadline
On Wednesday, The Athletic MLB insider Ken Rosenthal revealed that the Yankees’ “dealings at the deadline might be influenced by a desire to get under the highest luxury-tax threshold, according to sources.”
The team is $1.1 million above the $293 million competitive balance tax threshold, and that does lead to a pretty steep penalty. However, the organization just landed a sponsorship with Starr Insurance for a patch on their uniforms that will give them $25 million a year. So preferring to go bargain shopping at the deadline is a shocking change of direction for the Yankees.
Rosenthal claims an “all-in” approach to make sure they get to the playoffs and contend is unlikely and that the New York Yankees plan to both “buy and sell” before the trade deadline to lower costs and fix problems over the next two weeks.
That strategy is sure to upset Yankees fans when realizing New York Mets boss Steve Cohen has had no fear in spending whatever is necessary to try and compete since he took over as owner two years ago. In a way, things have switched when it comes to finances for New York’s pro baseball teams.