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Yankees: 3 contracts on payroll holding the team back right now

By Thomas Carannante |
CLEVELAND, OH - JULY 14: Aroldis Chapman #54 of the New York Yankees is congratulated by teammates Austin Romine #28 and Giancarlo Stanton #27 at the conclusion of the game against the Cleveland Indians at Progressive Field on July 14, 2018 in Cleveland, Ohio. The Yankees defeated the Indians 5-4. (Photo by David Maxwell/Getty Images)
CLEVELAND, OH - JULY 14: Aroldis Chapman #54 of the New York Yankees is congratulated by teammates Austin Romine #28 and Giancarlo Stanton #27 at the conclusion of the game against the Cleveland Indians at Progressive Field on July 14, 2018 in Cleveland, Ohio. The Yankees defeated the Indians 5-4. (Photo by David Maxwell/Getty Images)
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The Yankees face some payroll issues heading into 2021, and these men are the reasons why.

Most people don’t realize that the New York Yankees have about $175 million committed to their 2021 payroll and have plenty of moves to make if they want to get back to the World Series. When you factor in the losses from the global pandemic and the organization’s desire to likely avoid the luxury tax threshold, it’s really going to be hard to make big additions.

That gives the Yankees $34 million to spend before the tax hits at $210 million. You want to keep DJ LeMahieu? That’ll probably eat into more than half of that available money. You want Masahiro Tanaka back? That’s probably at least another $12 million. Now what? It’s peanuts after that.

But the biggest reason for these financial troubles are the contracts the Yankees have tied themselves into over the last few seasons. Gerrit Cole’s $324 million deal is not one of them — the Yankees needed to pay him whatever he wanted. This is a reality for some acquisitions.

For others, however? Not so much. And these three deals currently on the payroll will hold the Yankees back from making a number of moves this offseason unless general manager Brian Cashman figures out a way to trade one or two of them.

Yankees RHP Adam Ottavino (Photo by Elsa/Getty Images)
Yankees RHP Adam Ottavino (Photo by Elsa/Getty Images) /

3. Adam Ottavino’s 3-year, $27 million deal

Once upon a time, Ottavino’s contract with the Yankees was a steal.

Adam Ottavino‘s 2019 regular season with the Bombers had everyone thinking this was some of Cashman’s best work. The right-hander’s slider was untouchable and he had a career year, logging a 1.90 ERA, 1.31 WHIP and 88 strikeouts in 73 games (66.1 innings). He was the bridge this team needed to get to Zack Britton and Aroldis Chapman, making the bullpen nearly unstoppable.

But then came the postseason. Otto was tattooed in the 2019 ALCS against the Houston Astros, allowing three earned runs on six hits and a walk in just 2.1 innings of work across five games. And that seemed to unravel the veteran.

On Aug. 20, Ottavino got wrecked by the Tampa Bay Rays, allowing three earned runs in just 0.2 innings pitched after coming in to relieve James Paxton. Two games later, he blew a save against the Mets. Three games later, he failed to record an out in an appearance against the Blue Jays, in which he surrendered SIX earned runs on four hits and two walks.

Manager Aaron Boone never trusted him again. Though Otto logged five straight promising appearances, he faltered in his final two of the year and was used for just 0.2 innings throughout the entire ALDS.

Now, he can’t be used AT ALL in the postseason or in high-leverage situations in the regular season. And he’s making $9 million for the 2021 season. What’s the use?

Aroldis Chapman #54 of the New York Yankees (Photo by Sean M. Haffey/Getty Images)
Aroldis Chapman #54 of the New York Yankees (Photo by Sean M. Haffey/Getty Images) /

2. Aroldis Chapman’s 3-year, $48 million deal

Yankees fans would argue Aroldis Chapman is not worth $16 million per year.

Aroldis Chapman has been the Yankees’ closer for four-plus seasons. He’s recorded 114 saves and appeared in 211 games. He has a 2.54 ERA and 1.05 WHIP over that span. But he’s been a disaster in the postseason outside of the 2017 ALDS against the Cleveland Indians.

Chapman’s deal isn’t bad, but the Yankees reworked it last offseason to give him another year and another $16 million. Why? He just blew the 2019 ALCS. Two years prior, he blew Game 2 of the 2017 ALCS that cost the Yankees dearly. And he did it again in the 2020 ALDS.

Don’t let his career 2.40 ERA in 35 postseason games fool you. He nearly blew Game 7 of the 2016 World Series for the Chicago Cubs. He couldn’t keep the game TIED in those three contests he blew for the Yankees since 2017. Six saves vs three blown games. Not a good ratio. At all.

The Yankees aren’t paying for regular season dominance. Yes, that helps for sure, but you can’t be the third-highest-paid reliever in the game behind Mark Melancon and Kenley Jansen (both of whom you’re probably better than!) and fail at that rate in October. We know the list of top-end relievers is very short and Chapman is still arguably the best in the game, but something isn’t working, and paying $16 million for a guy who only comes in to pitch one inning may no longer be worth it.

We see many other bullpens across the league built (and successful) on a budget of Chapman’s salary. Why can’t the Yankees do that?

Giancarlo Stanton #27 of the New York Yankees (Photo by Sean M. Haffey/Getty Images)
Giancarlo Stanton #27 of the New York Yankees (Photo by Sean M. Haffey/Getty Images) /

1. Giancarlo Stanton’s 13-year, $325 million deal

The Yankees are stuck with Giancarlo Stanton, whether you think that’s good or bad.

We’re not complaining about having Giancarlo Stanton on the New York Yankees, but there are many issues with the team deciding to acquire him. Where shall we start?

For one, Cashman trading for a redundant hitter that this lineup didn’t necessarily need certainly raised eyebrows. But making that move (at the time) for the largest contract in NORTH AMERICAN SPORTS HISTORY instead of paying for pitching was … even more confusing. Even after the 2017 season, it was evident the Yankees needed more contact hitters. The last thing they needed was another power bat who couldn’t do anything else!

Look, Stanton’s 2018 season with the Yankees was great. His 2020 postseason was otherworldly. But he cannot play the field. He’s a permanent designated hitter, which takes away from manager Aaron Boone’s flexibility when making the lineup each and every day, which now has some people talking about trading Luke Voit or Gio Urshela. Yup, that’s where we are!

Stanton’s 2017 MVP season also somehow masked the constant injury issues he faced during his tenure with the Miami Marlins (he played in 145 games or more in just three of his eight seasons). The Yankees felt that just one year into his stint in the Bronx. Stanton played just 18 games in 2019 and 23 in the shortened 60-game campaign in 2020.

The slugger is also not exercising the opt-out clause in his contract, which means the Yankees are now on the hook for $218 million over the next seven years. He’ll make $29 million, $29 million, $32 million, $32 million, $32 million, $29 million and $25 million between 2021 and 2027 and has a $25 million team option (or $10 million buyout) for 2028. Again, this is for a permanent DH who is not Barry Bonds.

Given the Yankees’ other needs after 2017, 2018, 2019 and now 2020, Stanton’s deal is proving to be more of a burden than a contribution, especially when you factor in his countless injuries and untimely strikeouts that characterized his time in pinstripes up until the start of these playoffs.

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