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The Yankees are finally back in the World Series, but it certainly didn’t come cheap, and the team’s path could soon grow even more expensive.
The club, by far Major League Baseball’s most successful team with 27 World Series titles, clinched the American League pennant on Saturday, closing out the Guardians in a hard-fought, five-game series. For all that historical success, 15 years had passed since the Yankees’ last pennant, tied for the longest such stretch in franchise history.
In the intervening decade and a half since its 2009 title, the Yankees have paid nearly $3.5 billion in total player payroll, consistently ranking among the league’s top spenders, including a $309 million outlay this year that ranked second only to the crosstown Mets. Before this year, though, the Yankees continued to come up short on the field, including four AL Championship Series losses between 2012 and 2022 that often frustrated fans and failed to meet their lofty expectations.
The Yankees’ big contracts over that time ranged wildly from bona-fide hits such as the nine-year, $360 million deal for star outfielder and likely AL MVP Aaron Judge to outright busts such as a separate, $153 million pact over seven years for oft-injured former outfielder Jacoby Ellsbury. In the pennant celebration at Cleveland’s Progressive Field, though, such fiscal matters were at least temporarily far from the mind of Yankees ownership.
“This has been an incredible year, and it’s an incredible group of guys,” Yankees managing general partner Hal Steinbrenner said of the team during the AL championship trophy ceremony. “We had our ups and we had our downs, but they never had a doubt. They never panicked. Every day, they went out and did their job, and that’s why we’re here.”
The Yankees are now set to face the National League champion Dodgers, giving MLB a dream matchup and continuing what has been a scintillating MLB postseason. The World Series is scheduled to start on Friday.
Market Watch
The big hero in Saturday’s clinching Game 5 against the Guardians was Yankees outfielder Juan Soto, acquired last offseason in a trade with the Padres. Soto hit a clutch three-run home run in the 10th inning, providing the final margin of victory for New York to clinch the pennant.
He will be a free agent after the World Series, and after another excellent season in an already-legendary career, Soto was already expected to receive the second-largest contract in MLB history, trailing only the Dodgers’ Shohei Ohtani. The latest dramatics have only amplified that anticipation. Prior projections of a multiyear deal beginning at $500 million may soon start at $600 million, or more. Fan chants imploring Steinbrenner to resign Soto were quite noticeable during Saturday’s trophy ceremony. And even Soto’s teammates were quickly imploring Steinbrenner to dig deep to retain the star.
“Pay my guy! Pay Juan Soto!,” third baseman Jazz Chisholm Jr. said on the YES Network, suggesting a $700 million deal that would match Ohtani.
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