Hal Steinbrenner dishes on Yankees’ payroll, needs beyond Juan Soto, Roki Sasaki and more

Hal Steinbrenner spent most of his Wednesday media availability answering questions about Juan Soto.
That was to be expected, as the Yankees owner and a few other members of the organization met with the coveted free agent in Southern California on Monday. However, Soto was not the only topic addressed by Steinbrenner at MLB’s Owners Meetings, nor was he the only player of interest to be mentioned during a media scrum that lasted 13 minutes.
Here’s a look at where the owner stands on several non-Soto matters.
Steinbrenner previously called the Yankees’ 2024 payroll unsustainable, as they went above $300 million for the first time in franchise history. He reiterated that point on Wednesday, but noted that a lot of money has come off the pennant-winning team’s books thanks to a few in-house free agents.
“We’re in a better starting position than we were a year ago,” Steinbrenner said. “There’s no doubt about that. Look, year after year after year after year, payrolls similar to this year and the luxury taxes they produce are not sustainable, not feasible, and that’s the case for the vast majority of owners, and maybe all of the owners.
“Doesn’t mean in any given year I can’t do what I want to do.”
As of now, the Yankees’ 2025 payroll is projected to be $238.8 million, per Cot’s Contracts. While the Yankees are in a better spot, as Steinbrenner said, they’re currently budgeting a lot of money for Soto, who is seeking well over half-a-billion dollars as some of baseball’s richest teams court him.
The Yankees could free up additional money before Friday’s non-tender deadline, as Trent Grisham and Tim Mayza are among those with notable projected salaries who are potentially on the chopping block. Future trades could also provide relief.
Steinbrenner said that he hasn’t decided on an operating budget for 2025, and he’s told Brian Cashman that he’s open to any proposals.
“We’ve got the ability to sign any player we want to sign,” Steinbrenner said.
Even if Soto stays, giving the Yankees continuity in right field, they’ll have plenty of holes to fill with their remaining payroll. A team that reached the World Series in 2024 could look extremely different, as there are also question marks at first base, second base and in left field.
“As always, anything that comes across my desk, I’m going to consider,” Steinbrenner said. “We do have other things to add, whether that’s via free agency, whether that’s via a trade. We’ve got some things we need to improve upon. Every club does.”
The Yankees could use younger — and cheaper — players at some of the aforementioned positions, especially if Soto is retained. For example, Caleb Durbin is a candidate for second. Jasson Domínguez may get a shot in left. Ben Rice is a fallback option at first, though that should be the Yankees’ top priority after Soto.
While several positions up for grabs, Steinbrenner specifically said that the Yankees will do a “deep dive” on their rotation and bullpen.
“Speaking hypothetically, I don’t think you can ever have enough pitching,” the owner said.
One pitcher who will be of interest to the Yankees — and pretty much every other team — is Roki Sasaki.
Hours after Steinbrenner spoke, commissioner Rob Manfred said that the Japanese ace is expected to sign with a major league club as part of the 2025 international signing class. That means that Sasaki won’t sign before January 15, though it’s still unclear exactly when the Chiba Lotte Marines will post the flamethrowing righty.
Sasaki will sign a relatively small contract, as the 23-year-old’s age limits him to teams’ international signing bonus pools under MLB rules. According to Baseball America, the Yankees have $6,261,600 in their pool. The Dodgers, perceived as favorites for Sasaki because they dominate the Japanese media market and employ Shohei Ohtani and Yoshinobu Yamamoto, have $5,146,200.
However, Sasaki’s agent, Joel Wolfe, called those rumors “poor sportsmanship,” per The Athletic’s Evan Drellich.
Some notable teams that have equal or more bonus pool money than the Yankees include the Rangers, Blue Jays, Padres, Phillies, Mets, Cubs, Red Sox, Orioles, Diamondbacks, Rays and Mariners.
The Yankees have been scouting Sasaki for years, but Steinbrenner said he’s only seen highlights. He called Sasaki a “tremendous pitcher” but added “we have not had any real discussions at all about any possible postings of Japanese players yet.”
“But like every other club, I’m sure we will,” the owner continued.
While nothing sounded imminent, Steinbrenner indicated that the Yankees could add onto Aaron Boone and Gerrit Cole’s contracts.
Boone just had a club option picked up for 2025. He recently said that he had not discussed an extension with the Yankees, but it wouldn’t be a surprise if such talks happen later this offseason.
“I’m going to have discussions with Cashman in the very near future,” Steinbrenner said. “There’s no huge rush to it, but I will have those discussions as to what we should do next, if anything.”
Steinbrenner offered a similar answer on Gerrit Cole.
The ace opted out of the remaining four years and $144 million on his contract at the start of the offseason. The Yankees had the ability to void that opt out by adding an extra year and $36 million to his deal, but they didn’t do that. Instead of testing free agency, Cole then essentially changed his mind about opting out.
At the time, it was suggested that the Yankees, Cole and his agent, Scott Boras — who also reps Soto — could discuss an extension at a later date.
“Any discussions they want to have, we’ll have,” said Steinbrenner, who is close with Cole. “The problem was the fifth year. There were a number of factors involved from my end. It was really just the time. We only had 48 hours. And when the deadline came, I just wasn’t in a position where I was comfortable going to a fifth year.
“But let me just say that doesn’t reflect in any way, shape or form what we think of Gerrit. We want Gerrit to be a Yankee for life. I believe he wants to be a Yankee for life. And adding one more year or not should have no meaning when it comes to that.”