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NEW YORK -- The Yankees have trumpeted numerous times that they expect their payroll to be lower for 2009, and after multiple forays into the free-agent market, that goal remains on track.
But as the Hot Stove plays on toward sun-splashed diamonds in Florida and Arizona, one big question remains in the Bronx. Having already added CC Sabathia, A.J. Burnett and Mark Teixeira this offseason, would the Yankees still have room for one more major addition?
The Yankees trotted to the first-base line last April with an Opening Day payroll of approximately $209 million, and both co-chairman Hal Steinbrenner and general manager Brian Cashman said they expect that figure to be lower when the club opens the new Yankee Stadium.
With their most recent moves Tuesday, finalizing one-year contracts for Xavier Nady ($6.55 million) and Melky Cabrera ($1.4 million), the Yankees' 2009 payroll stands at approximately $186 million for 16 players.
Right-hander Brian Bruney is the lone player who remains eligible for salary arbitration and has requested $1.55 million, while the Yankees offered $1.1 million.
Whatever the eventual figure for Bruney, it will finish as a drop in the bucket when compared to the Yankees' highest annual salaries. Alex Rodriguez will make $32 million in 2009, while Derek Jeter and Teixeira are both in line to earn $20 million.
Also earning double-digit figures for 2009 will be Burnett ($16.5 million), Mariano Rivera ($15 million), Sabathia ($14 million), Jorge Posada ($13.1 million), Johnny Damon and Hideki Matsui ($13 million each) -- not including applicable signing bonuses.
Those financial commitments seem to reduce the likelihood that the Yankees will offer one more major contract this winter, such as to one of the premier remaining free agents like Manny Ramirez.
The Yankees had a chance to run at Ramirez and instead selected Teixeira based upon his projected ability to help them at a position of greater need -- first base -- and for a longer period of time.
Indeed, even a one-year, $10 million offer to Andy Pettitte is no longer considered to be a standing one, and the club has shown no inclination to get involved with another option like Ben Sheets.
The Yankees could still finalize an agreement with Pettitte between now and the Feb. 13 reporting date for pitchers and catchers, but have said that they are prepared to enter the spring with an open competition for the fifth starter's spot.
That's important, because with Bruney's eventual signing, there will still be eight roster spots to be filled in the bullpen and on the bench. Some of those may wind up being decided in the spring, like the middle-infield battle between non-roster invitee Angel Berroa and returning player Cody Ransom.
Since some of those players will earn less than $1 million, that may leave room for additional salaries. But the Yankees also must account for the additional $14 million in signing bonuses due to be paid to Sabathia and Teixeira before the end of the season.
Even with those, the Yankees may be able to find some flexibility if needed. That is due in large part to their billion-dollar cathedral, slated to officially open April 16 against the Indians and promising to open up untold new revenue streams for the Yankees.
Clearly, the new Yankee Stadium and the profitable YES Network have been factored into the willingness to outbid other clubs. The Yankees blew away the Brewers' offer for Sabathia by $80 million, then topped the Braves' best bid for Burnett.
Then, with hours to spare, the Yankees swooped in on Dec. 23 and offered Teixeira $10 million more than Boston -- a day so hectic that Cashman had lunch at Yankee Stadium believing that Teixeira was still headed elsewhere.
That frantic checkbook-writing put the Yankees' deep pockets on display, but their resources are not infinite, particularly if the club adheres to reducing payroll while reinvesting to field a competitive team.
With more than $80 million coming off the books in commitments to players like Jason Giambi, Bobby Abreu, Carl Pavano, Mike Mussina, Ivan Rodriguez and others, the Yankees had some dollars to shift in hopes of getting younger and more athletic.
None of those players will return for 2009; New York's only retained free agent was left-hander Damaso Marte, who signed a three-year deal worth $12 million. It remains to be seen if the Yankees could entertain one more addition before breaking camp.
But in engaging lower-priced alternatives like free agent Freddy Garcia instead of Pettitte, the club appears to be returning to some level of fiscal restraint after its hectic offseason.
Bryan Hoch is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.
But as the Hot Stove plays on toward sun-splashed diamonds in Florida and Arizona, one big question remains in the Bronx. Having already added CC Sabathia, A.J. Burnett and Mark Teixeira this offseason, would the Yankees still have room for one more major addition?
The Yankees trotted to the first-base line last April with an Opening Day payroll of approximately $209 million, and both co-chairman Hal Steinbrenner and general manager Brian Cashman said they expect that figure to be lower when the club opens the new Yankee Stadium.
With their most recent moves Tuesday, finalizing one-year contracts for Xavier Nady ($6.55 million) and Melky Cabrera ($1.4 million), the Yankees' 2009 payroll stands at approximately $186 million for 16 players.
Right-hander Brian Bruney is the lone player who remains eligible for salary arbitration and has requested $1.55 million, while the Yankees offered $1.1 million.
Whatever the eventual figure for Bruney, it will finish as a drop in the bucket when compared to the Yankees' highest annual salaries. Alex Rodriguez will make $32 million in 2009, while Derek Jeter and Teixeira are both in line to earn $20 million.
Also earning double-digit figures for 2009 will be Burnett ($16.5 million), Mariano Rivera ($15 million), Sabathia ($14 million), Jorge Posada ($13.1 million), Johnny Damon and Hideki Matsui ($13 million each) -- not including applicable signing bonuses.
Those financial commitments seem to reduce the likelihood that the Yankees will offer one more major contract this winter, such as to one of the premier remaining free agents like Manny Ramirez.
The Yankees had a chance to run at Ramirez and instead selected Teixeira based upon his projected ability to help them at a position of greater need -- first base -- and for a longer period of time.
Indeed, even a one-year, $10 million offer to Andy Pettitte is no longer considered to be a standing one, and the club has shown no inclination to get involved with another option like Ben Sheets.
The Yankees could still finalize an agreement with Pettitte between now and the Feb. 13 reporting date for pitchers and catchers, but have said that they are prepared to enter the spring with an open competition for the fifth starter's spot.
That's important, because with Bruney's eventual signing, there will still be eight roster spots to be filled in the bullpen and on the bench. Some of those may wind up being decided in the spring, like the middle-infield battle between non-roster invitee Angel Berroa and returning player Cody Ransom.
Since some of those players will earn less than $1 million, that may leave room for additional salaries. But the Yankees also must account for the additional $14 million in signing bonuses due to be paid to Sabathia and Teixeira before the end of the season.
Even with those, the Yankees may be able to find some flexibility if needed. That is due in large part to their billion-dollar cathedral, slated to officially open April 16 against the Indians and promising to open up untold new revenue streams for the Yankees.
Clearly, the new Yankee Stadium and the profitable YES Network have been factored into the willingness to outbid other clubs. The Yankees blew away the Brewers' offer for Sabathia by $80 million, then topped the Braves' best bid for Burnett.
Then, with hours to spare, the Yankees swooped in on Dec. 23 and offered Teixeira $10 million more than Boston -- a day so hectic that Cashman had lunch at Yankee Stadium believing that Teixeira was still headed elsewhere.
That frantic checkbook-writing put the Yankees' deep pockets on display, but their resources are not infinite, particularly if the club adheres to reducing payroll while reinvesting to field a competitive team.
With more than $80 million coming off the books in commitments to players like Jason Giambi, Bobby Abreu, Carl Pavano, Mike Mussina, Ivan Rodriguez and others, the Yankees had some dollars to shift in hopes of getting younger and more athletic.
None of those players will return for 2009; New York's only retained free agent was left-hander Damaso Marte, who signed a three-year deal worth $12 million. It remains to be seen if the Yankees could entertain one more addition before breaking camp.
But in engaging lower-priced alternatives like free agent Freddy Garcia instead of Pettitte, the club appears to be returning to some level of fiscal restraint after its hectic offseason.
Bryan Hoch is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.
