Yankees can't fall for expensive trap after affordable relievers come off the board

The dominoes are starting to fall, and here we are with Brian Cashman sitting on the sidelines. The New York Yankees bullpen desperately needs an overhaul, but the reliever market is heating up, and the affordable options are dropping like flies.

We've seen Devin Williams come off the board, moving across town in hopes that reuniting with David Stearns will help him survive the city's bright lights. The Yankees also missed their chance to swipe an intriguing reclamation project from the Mets, with Ryan Helsley's high-octane fastball landing with the division rival Baltimore Orioles. Gone, too, is Phil Maton, a steady performer over the last four years with a 3.33 ERA in that span and a career-best 2.79 mark in 2025. He signed for a very economical two years, $14.5 million.

As the affordable options dry up, the pressure will mount and could force Cashman into making a grave error, hunting at the top of the market and signing the star of the show, former Met Edwin Diaz.

Letting the cheap options dry up and signing Edwin Diaz would be a grave Yankees' mistake

Like Devin Williams a year ago, Diaz has a strong claim to the title of the MLB's best closer. Coming off a season where he posted a microscopic 1.63 ERA while striking out 38% of batters he faced, Diaz has an allure that can't be denied.

But like a Greek tragedy, his draw is a Siren's song that can only lead to disaster. There are a few reasons why.

First, Diaz opted out of the final two years of the insane five-year, $102 million extension he signed ahead of the 2023 season. Now he's seeking a brand new contract of at least five years and $100 million. That's a lot of money to pay any closer, even if he's the best in baseball.

It's a crippling amount if you are on a budget like the Yankees are and have needs in the outfield, the starting rotation, and also desire a right-handed bat for the infield ... and that's just for starters. Committing that much money to a closer would cripple the club's ability to solve most of those issues.

Not only that, but an elite closer has no value if no one can hand him the ball. Hypothetically, David Bednar would be a well-suited setup man for Diaz, but who else do you really trust out there? Tim Hill is good, but he has limits as to what he can do. Besides those two, there's Fernando Cruz and Camilo Doval, both of whom are a little scary in the late innings. And let's not get started on the idea of Jake Bird, Brent Headrick, and Yerry De Los Santos having prominent roles.

Point being, the Yankees need multiple bullpen arms, and signing Diaz would prevent that from happening.

It's also important to remember that relievers are the most volatile players in the sport. Diaz was human in 2024 with a 3.52 ERA. The same thing happened in 2021 when he posted a 3.45 mark. And of course, he was downright bad in 2019, posting a 5.59 ERA during his first season with the Mets. None of those performances is worth $20 million a year.

The good news is that there are still some guys left who fit the bill of what the Yankees should be looking for. Kyle Finnegan would be a great fit. Tyler Rogers has been one of the most reliable rubber arms in the game. But the options are getting slim, and if Cashman doesn't act fast he will miss out, and that could lead to a very regrettable decision.