The Yankees mostly opted for the status quo, as their 2026 club will look a lot like the 2025 version. A few small differences could take them up a notch.

Major League Signings

2026 spending: $85.525MM
Total spending: $195.525MM

Trades and Claims

Option Decisions

Notable Minor League Signings

• Rafael Montero, Randal Grichuk, Paul DeJong, Seth Brown, Jonathan Ornelas, Michael Arias, Yerry Rodríguez, Ali Sánchez, Zack Short, Adam Kloffenstein, Payton Henry, Dylan Coleman

Extensions

Notable Losses

There was a lot to like about the Yankees in 2025, but they came up just a bit short of the ultimate goal. They won 94 games in the regular season, the same as the Blue Jays, with Toronto only taking the division title based on the tiebreaker rules. The Yanks got a Wild Card spot and took out the Red Sox but were felled by the Jays in the Division Series.

Going into the 2025-26 offseason, a lot of the key pieces would be remaining in place. The area with the greatest potential for change was the outfield, which was a strength in 2025. Aaron Judge won his third American League MVP Award. Cody Bellinger and Trent Grisham enjoyed productive seasons (a breakout, career-best year in the latter’s case). Grisham and Bellinger both headed to free agency at the start of the offseason, the latter by triggering an opt-out in his previous contract.

Theoretically, the Yankees could have turned to some internal replacements, but there would be big risks there. Jasson Domínguez had an uneven year in 2025. His offense was passable but not too exciting. In 429 plate appearances, he hit just ten home runs. A 9.6% walk rate helped his on-base percentage, leading to a .257/.331/.388 line and 103 wRC+. He stole 23 bases but received awful grades for his left field defense. His minus-7 Defensive Runs Saved and minus-10 Outs Above Average were some of the lowest among big league outfielders.

There’s also Spencer Jones, who crushed 35 home runs on the farm last year, including 19 at Triple-A. However, he posted those homers while striking out in 35.4% of his plate appearances. Presumably, he’d strike out even more frequently against better competition in the big leagues. No qualified major leaguer struck out at a higher rate than 32.3% in 2025.

With some questions about both Domínguez and Jones, and the Yankees always in win-now mode, it seemed like the outfield would be a priority. One spot was quickly filled, as Grisham somewhat surprisingly accepted the qualifying offer. His career had been unimpressive prior to 2025, but the breakout was extreme. He hit 34 home runs and drew walks at a 14.1% clip. Grisham’s .235/.348/.464 line led to a 129 wRC+. His defensive grades slipped, but he was considered a strong fielder in every other season of his career, so it’s possible last year’s downturn was more of an odd, one-year blip than a true decline.

Skeptics could point to Grisham’s larger body of work, with a .191/.298/.353 line over the previous three seasons combined, but there were reasons to believe Grisham could cash in on that strong season. Just one offseason earlier, Jurickson Profar had done precisely that. After years of subpar performances, Profar parlayed his strong 2024 season into a three-year, $42MM deal with Atlanta. Grisham went into free agency younger and with a better defensive reputation, so he had a case to top Profar’s guarantee.

MLBTR predicted Grisham could get $66MM over four years, even with the QO attached, but he decided to return to the Bronx for just one year at $22.025MM. A multi-year deal at that same annual value may not have been there, but a three- or four-year deal at a lighter rate with a larger overall guarantee seems like it would have been feasible. Grisham would be a bargain for the Yankees if he can come anywhere close to last year’s performance, and doing so would position him for a major contract next winter.

With Grisham back in the fold, the Yankees still had one outfield spot to consider. They were connected to various names both in free agency and via trade, including Kyle Tucker, Luis Robert Jr. and others, but a reunion with Bellinger always made a lot of sense. He had thrived in his one year in the Bronx. Bellinger hit .272/.334/.480 for a 125 wRC+ on the year overall but with a massive .302/.365/.544 line and 152 wRC+ when playing in Yankee Stadium with its short porch.

The two seemed a perfect match for each other, but the courting process dragged out nonetheless. Bellinger remained on the open market into January. Reports trickled out indicating that the Yankees had made him an offer, then another. There was reportedly an impasse, with the Yankees offering five years and Bellinger seeking a longer deal, but the two sides finally reached an agreement in late January.

The $162.5MM guarantee and five-year term were within the realm of expectations. MLBTR had predicted five years and a slightly lesser guarantee of $140MM. The Bellinger deal was particularly notable for being frontloaded and having two opt-outs. He’ll get a $20MM signing bonus and big salaries of $32.5MM in the first two years, followed by salaries just under $26MM in the final three. Since he can opt out after 2027 and 2028, it’s possible for him to bank $85MM in the first two years and then return to the open market after his age-31 season. The nature of that deal means that Bellinger’s hit for the competitive balance tax will be higher than usual.

After Bellinger was back in the fold, there was some speculation that Domínguez and/or Jones could end up on the trade block. To this point, however, there hasn’t been any strong indications that the Yankees have considered that route. With Grisham only signed for one more year and Bellinger potentially opting out after 2027, there are future opportunities available for those youngsters.

Though the outfield was the main target, the rotation needed some consideration as well. The Yankees will be getting Gerrit Cole back at some point in 2026, after he spent 2025 recovering from Tommy John surgery, but he still won’t be ready by Opening Day. They will also be without Carlos Rodón to start the season, as he had surgery to remove loose bodies from his elbow. Clarke Schmidt had UCL surgery in July of last year and will begin the season on the shelf as well.

The Yanks were connected to some big names over the winter, including Framber Valdez, Edward Cabrera, Michael King, Freddy Peralta, Tatsuya Imai and MacKenzie Gore. Their rotation strike ended up being less splashy than those options. They sent four prospects to the Marlins to acquire lefty Ryan Weathers.

Weathers was once a notable prospect and has shown some flashes of potential in the majors, but not over a long sample size. He had good results with the Marlins in 2024 and 2025 but some injuries limited him in both seasons. He tossed 125 innings over those two campaigns and produced a 3.74 earned run average, 22% strikeout rate, 6.8% walk rate and 45.6% ground ball rate.

A more proven arm could have been preferable, but a nice benefit of Weathers is that he’s controlled for three more years and still has an option remaining. He should get a rotation job alongside Max Fried, Cam Schlittler, Will Warren and Luis Gil to start the season. Like Weathers, each of Schlittler, Warren and Gil can be optioned. A stint in the minors for someone in that group is possible if everyone is healthy when Rodón and Cole return. In the meantime, the Yanks also brought back Ryan Yarbrough and Paul Blackburn to serve as veteran swingmen.

Paul Goldschmidt became a free agent after the 2025 season, but first base wasn’t a big priority since Ben Rice took over that job. The Yanks were able to bring Goldy back on a modest $4MM deal, seemingly to serve a more complementary role this time. His bat was around league average in 2025, but he still crushed lefties. Since the Yankee lineup skews left-handed, there’s a role for Goldschmidt. Amed Rosario was also brought back for similar reasons and the Yanks also added Randal Grichuk via a minor league deal.

In the bullpen, Devin Williams and Luke Weaver became free agents after 2025, but the Yankees seemingly tried to address those departures proactively. At the 2025 deadline, their three relief additions were David Bednar, Camilo Doval and Jake Bird. Since all three would still be under club control for 2026, the Yanks may have felt less pressure to replace Williams and Weaver this winter.

Their most notable bullpen move was fairly modest, as they acquired Angel Chivilli from the Rockies. He is still unproven, with a 6.18 ERA in 90 1/3 innings. The Yanks will hope that getting him away from Coors Field will help. He has an intriguing arsenal with high-90s velocity and strong ground ball rates. Chivilli isn’t slated for free agency for at least five years and still has an option remaining. The Yanks also took a shot on Cade Winquest in the Rule 5 draft. He had a 3.99 ERA in the minors last year.

There was some chatter around Jazz Chisholm Jr. this offseason. Since he’s slated for free agency after 2026, there were some trade rumors and the possibility of an extension also came up. It never seemed especially likely that the Yanks would move on from him, and he indeed is still on the roster. The Yankees don’t do many extensions and still haven’t done anything with Chisholm, though he has said he’s open the possibility. It’s theoretically possible for momentum to build at any time, but Jon Heyman of The New York Post reported this week that substantive talks have still not occurred.

Ultimately, the roster is going to look very similar to last year’s. Shortstop Anthony Volpe will miss some time due to offseason shoulder surgery but could rejoin the club in April. José Caballero will cover that spot in the interim. Apart from that, the position player group is essentially identical. There’s a bit more change on the pitching side, but the staff is also going to have a lot of continuity.

There’s not really anything wrong with that. The Yankees were one of the best teams in the league last year. Running back mostly the same squad should put them in position to be really good again. It’s also possible they could be a bit better. They will get Cole back at some point, which should give them a boost, and they’ll get a full season from Schlittler, who just debuted last July. If Weathers can stay healthy, he’s another potential bonus. If there are obvious shortcomings on display in the next few months, the Yanks could address those at the deadline, but for now the roster has been tweaked more so than overhauled.

Photo courtesy of Jayne Kamin-Oncea, Imagn Images