Fading Yankees top prospect facing last chance to make MLB roster at spring training

In recent days, the New York Yankees attempting an internal solution at third base on Opening Day has gone from "unfortunate last resort" to "likely outcome," pending a swift and unexpected resolution on Nolan Arenado.

The trade market could still provide the Yankees with an upgrade opportunity, but they haven't been in the Alex Bregman free agent pool in months (if at all). Other than Bregman, the available free agents (Brendan Rodgers, Paul DeJong, Kiké Hernández) may not be upgrades at all over the Yankees' incumbents. Let's face it: if Oswaldo Cabrera were on someone else's roster, we'd be considering him as a poaching opportunity a la Willi Castro. It's not good, but it could be worse.

If the season began tomorrow, the Yankees' third base plan would consist of some combination of Cabrera and DJ LeMahieu, but a third dark horse in the race had better hope he has a genuine opportunity to earn involvement.

Oswald Peraza was considered the favorite to earn the starting shortstop gig coming out of spring training 2023 before Anthony Volpe raced to the top of the list and nabbed it. Now, two years later, Peraza has been largely forgotten, and is out of minor-league options. That means he must make the Yankees' Opening Day roster or else he'll be cut loose upon his demotion.

Yankees' Oswald Peraza out of minor-league options as he attempts to make Opening Day roster

It was somehow only two years ago that Peraza was a Top 100 prospect earning ALCS starts in Houston as the Yankees desperately searched for a method to overturn the Astros Curse (never found it).

After Volpe leapfrogged him, he posted an .836 OPS in 63 games at Triple-A Scranton. He also subtracted 0.7 bWAR and hit .191 in 191 plate appearances (matching!) with the big-league Yankees, largely overshadowing his minor-league work. With an MLB role looking more unlikely by the day in 2024, he suffered a shoulder injury that knocked him out of preseason contention anyhow, resurfacing to hit .246 with a .735 OPS in 92 Triple-A games.

Based on the way his skills were appraised back in 2022, he'd seem to be the highest-upside option for a regular third base role in 2025, bringing supposedly elite defense to the table. Unfortunately, he's stumbled in previous opportunities, and is largely overlooked these days. In fact, he would've been traded already, if there were a market.

If he doesn't win 2025's camp battle, he'll likely learn that all over again.