The New York Yankees would love to add Gerrit Cole to their starting rotation this winter.
However, Joel Sherman of the New York Post reports that the money could be a major detractor in New York's desire to win the Cole sweepstakes:
2. Money is a huge issue. One executive said, “I don’t believe Hal Steinbrenner any longer authorizes seven years or more at the dollars it is going to take for any pitcher.” The signing of Cole would take the Yankees near or over the third luxury-tax level of $248 million, which Steinbrenner surely wants to avoid.
Cole is expected to make north of $250 million over the life of his impending contract, and some have even suggested that he could approach the $300 million mark.
Meanwhile, the Yankees had the third-highest Opening Day payroll in baseball in 2019, and they still need to shore up their outfield, which they will likely do by re-signing Brett Gardner and Cameron Maybin.
The point about Hal Steinbrenner not authorizing deals of seven years or more is particularly interesting, in retrospect. The Yankees were one of the favorites to sign Patrick Corbin last winter, but they would not offer him a six-year deal. Corbin signed with the Washington Nationals.
Still, Cole would seem to be the exception to the rule. He is still young and coming off arguably the most dominant four-month stretch of any pitcher in history.
Sherman also notes that Masahiro Tanaka and James Paxton will be free agents after the 2020 season, bringing about questions regarding the future of the rotation.
Will Steinbrenner and the Yankees neglect the tax and spend big? Their championship window might loom on this one decision.
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