3 early extensions Yankees should try to sign right now after recent frenzy

The New York Yankees have long been a conservative organization. The franchise has been known for staunchly adhering to its old ways, even when the rest of the league has passed them by. However, the winds of change have been sweeping through the Bronx (players can have beards now!), and a key component of roster building is seemingly changing throughout baseball.

Conventional wisdom had been that a smart team-building philosophy would be to maximize the six years of team control. With three pre-arb years coming at dirt-cheap prices, plus three more arbitration years, clubs have long been incentivized to take a wait-and-see approach in order to maximize value.

Sure, arbitration numbers can reach near-market prices, since there is no limit to how much salary can increase during that process, but teams have often benefitted from the fact that, even if there is a big bump from one year to the next, the commitments aren't long-term.

The Yankees have often used this to their benefit, waiting until other teams' players hit free agency, and then pouncing once that player has proven himself and priced himself out of his current team's budget.

That landscape is changing, as more and more often teams are coming to terms on long-term extensions with their young talent, often before the arbitration process even begins. The logic is sound; a club can lock up a talented young player long-term beyond his six years of team control while keeping the salary consistent. For the player, he may lose out on some future earnings potential, but he's also protected by the increased financial security that these extensions provide.

With extensions now on the books for the likes of Kristian Campbell, Jackson Merrill, Garrett Crochet, and others, these three young Yankees stand out as prime extension candidates that the organization should scramble to immediately lock up long-term.

Austin Wells should be a top extension priority for the Yankees

One of the more overlooked lynchpins of the most recent Yankees dynasty was a man who provided the Yankees with an incredible offensive advantage from the catcher position, Jorge Posada. In the 14 years since the fiery Posada hung up his cleats, the Yankees have cycled through a hodge-podge combination of top prospects who ultimately disappointed (looking at you, Jesus Montero and Gary Sánchez), and veteran retreads who failed to make an impact.

Austin Wells' career is just beginning. The 25-year-old doesn't become arbitration eligible until 2027 and is under team control until 2030. However, after an impressive rookie season that saw him thrown into the fire, it's clear he's different than the young Yankees' catchers of that past.

Upon being drafted back in 2020, a common refrain regarding his future was that he likely wouldn't stick behind the dish. Despite that criticism, Wells has worked hard on his game and has become one of the better defensive catchers in the league.

Per Baseball Savant, his pitch framing ranked in the 96th percentile in the league last season, to go along with 75th percentile blocking. His control of the run game was more pedestrian, but still respectable, ranking in the 52nd percentile.

With that solid defensive foundation, Wells also brings offensive prowess. For a young hitter, he has an advanced eye at the plate, as evidenced by his 11.4% walk rate in 2024, to pair with some pop in his bat, posting a .167 ISO, which ranked ninth among catchers with at least 350 plate appearances.

While there's inherent risk with any young player, especially one who plays such a physically demanding position, Wells' pedigree and early production point to him only getting better with time.

The extension market for catchers has already been set this offseason, with the Toronto Blue Jays rewarding Alejandro Kirk with a five-year $58 million deal, and the Seattle Mariners bestowing Cal Raleigh with a six-year, $105 million pact.

If the Yankees strike soon, they should be able to lock up Wells to a deal that more closely resembles the Kirk contract. However, if they wait, the price tag will only go up and, given the budding star's potential, could end up exceeding what Raleigh got.

The Yankees would be wise to keep the electric Jazz Chisholm in the fold

Jazz Chisholm is not your typical Yankee. The organization, whose players have typically been of the straight-laced and stoic variety, is known for its uptight nature. That's why it's refreshing to see a player come in and unapologetically be himself.

Chisholm can be brash, but typically when he speaks out, he's in the right. On top of that, it's fun to see a player have some personality and break down the drab, corporate walls that are often associated with playing while wearing pinstripes.

Don't confuse outspoken with selfish, because the 27-year-old Chisholm is anything but. A natural second baseman, he was moved to center field by the floundering Fish in Miami prior to his trade to the Yankees. Once in the Bronx, Jazz switched positions once again so that the incumbent, a drastically inferior defensive second baseman in Gleyber Torres, wouldn't be inconvenienced.

Now playing his natural position at the keystone, the Yankees are enjoying having a player in their lineup with the most electric power-speed combo they've had since Alfonso Soriano's first tour of duty with the club. Unlike Soriano, Chisholm can actually play a rock-solid second base as well.

Coming off a year in which he crushed 24 dingers and swiped 40 bags, Chisholm's scorching hot start portends an even more terrifying season for opposing pitchers as he continues to grow into a force both at the plate and on the bases.

As you can see, there's a lot to like, but there is some risk as well. Now in his first year of arbitration, a Chisholm extension is starting to look a bit more pricey. Simply put, the closer a player is to free agency, the higher the offer would have to be to buy out their arb years, in addition to future seasons where they could otherwise test the open market.

The biggest real concern is Chisholm's young career has been his ability to stay on the field. While he played 147 games between Miami and New York last season, his previous career high was 124 back in 2021. He followed that up with just 60 games played in 2022 and 97 in 2023, as a variety of ailments and setbacks plagued him.

Still, his power-speed combo is so unique, and his do-anything attitude is so good for the club, that it would be well worth the injury gamble to ensure he's in the Bronx for the foreseeable future.

Believe it or not, Anthony Volpe is a prime Yankees' extension candidate, too

While the first two may seem more clear, there's no denying that locking up Anthony Volpe long-term would be a wise move for the Yankees. Given the hype surrounding him as a prospect, the general perception has been that he's been a disappointing player in his brief major-league career.

That's true to an extent, but there have been flashes. In his rookie season, he flashed his power potential with 21 long balls on the year. Last season, his 6 defensive runs saved at shortstop ranked 10th in the league. When he gets on base, which certainly does need to start happening more frequently, he's recorded 24 and 28 steals in the 2023 and 2024 seasons, respectively.

Yes, he owns a career wRC+ of 87, which might make you discount his delirious start to the 2025 season, but it's important to remember he turns just 24 years old on April 28, an age when many top prospects are just making their big league debuts.

Volpe is the riskiest of the three extension candidates, and that's exactly why it makes sense to extend him now. In doing so, the Yankees will spend more in the near-term, but would save tremendously in the long run if he comes close to reaching his full potential.

Even if he tops out as a slightly below league-average bat with stellar defense, at the shortstop position that's still a very valuable and expensive commodity on the open market. For example, the Chicago Cubs signed Dansby Swanson, owner of a career 96 wRC+, to a seven-year, $177 million contract.

The Yankees could lock up Volpe for his entire prime and still not even sniff that number, and there's a decent chance that Volpe can become an even better player than what Swanson has been. A Volpe extension would be an upside play for the Yanks, one that comes with minimal risk, given his position and defensive ability.

For years, the Yankees have been resistant to handing out early extensions, and the few they've given out have not all gone particularly well. However, as the current core ages and the baseball marketplace shifts, locking up these three players long-term would go a long way towards building a sustainable future in a city where the expectations are championship or bust every single year.