The Yankees’ Expensive Effort to Replace Juan Soto’s Production

The Yankees missed out on retaining free-agent outfielder Juan Soto, but they are now well on their way toward rebuilding the departed superstar’s impact—both on and off the field—in the aggregate.

Since Soto agreed to a record-setting, $765 million contract with the Mets, the Yankees have acquired pitcher Max Fried in an eight-year, $218 million pact, traded for star reliever Devin Williams and outfielder/first baseman Cody Bellinger in separate deals with the Brewers and Cubs, respectively, and remain on the hunt for at least one more impactful corner infielder. 

Collectively, Fried and Bellinger will cost the Yankees about $47 million in 2025 salary and signing-bonus outlays. That spending is very close to the nearly $48 million in annual average salary contemplated in a 16-year, $760 million offer made to Soto. Williams, meanwhile, is eligible for arbitration that could be mooted with a lucrative new contract. 

On the field, Fried, Bellinger, and Williams had a combined Baseball Reference wins above replacement (WAR) of 7.1 in 2024, similar to the 7.9 Soto had alone, MLB’s sixth-best figure. 

The Yankees formally introduced Fried during a Wednesday afternoon press conference, and GM Brian Cashman said they are far from done reshaping their roster for next season. 

“We’re getting after it,” Cashman said. “Our intention is to find a way back to the World Series. Stay tuned.”

The heightened offseason activity by both New York clubs marks the latest chapter in a local baseball hierarchy that’s traditionally been dominated by the Yankees but is now being challenged in perhaps unprecedented ways by the Mets. 

Payroll Considerations

The particularities of both the Yankees’ and Mets’ spending this offseason have resulted in a somewhat surprising situation: The Yankees’ current 2025 player payroll of $286.6 million, by competitive balance tax calculations, is higher than the Mets’ $252.8 million. That’s due in no small part to the several hefty contracts newly removed from the Mets’ ledger that account for more than what they’re spending on Soto.

But the Yankees are also nearing their comparable 2024 outlay of almost $314 million, with many roster decisions still to make.

“Every year, your team is different,” Cashman said. “[We’ve] got a lot of heavy lifting that we’re doing currently, but [there’s] more to be done.”