Yankees fans shouldn't rule out major trade after 2026 payroll update

New York Yankees fans have been bracing for a big trade all offseason, but we know now for sure that it won't be for prime target Freddy Peralta. Instead, Peralta will be suiting up in Queens after the Mets parted with two of their most promising prospects to acquire the right-hander.

While insiders and pundits hyped up the Yankees' interest in Peralta all winter, a closer look showed it was always a long shot. Now that we know for sure it won't happen, we can put to bed the notion of the Yankees making a splash on the trade market, right?

Not quite. While it's fair to assume that they're done with any meaningful additions after re-signing Cody Bellinger, it doesn't mean that New York won't swing another big trade, except this time it would be with major league talent flowing out of the Bronx.

Cody Bellinger's contract all but guarantees that the Yankees will make a big, payroll-shedding trade

We've heard for a while now that the Yankees' line in the sand regarding payroll is $300 million. The club has made some weak protests, but in typical fashion have talked out of both sides of their mouth while objecting that there is a set number.

Actions speak louder than words. This is essentially the same ball club as the one that finished 2025 in disappointment, plus gambles on Ryan Weathers and Cade Winquest. If there were truly no hard cap on spending, it would seem likely that the external upgrades would have been more significant.

Bellinger's contract adds $32.5 million to the tally, which, according to FanGraphs' roster resource, puts the Yankees at an estimated $317.8 million for their Opening Day payroll. That poses a few problems.

First, that number is over the "Cohen Tax," the final line where the most arduous penalties occur. Second, it's not the Opening Day number that matters, but rather where a club finishes the year. In-season moves, including call-ups, waiver claims, and trades, will all inflate that number further.

That means, not only do the Yankees need to get under $300 million, but they have to do so by a significant margin in order to operate during the 2026 campaign. That could mean trading away talent.

No, New York won't be entering a rebuild, but they might try and shed some of their more bloated short-term contracts, even if they have to eat some salary to make it happen.

Here are a few that could be moved:

All three players have inflated salaries, but they all have value as well. Stanton and McMahon can be moved now, while Grisham can only be traded after June 15 as a stipulation of the qualifying offer. In that case, the Yankees would shed the prorated amount from the time of the trade through the end of the regular season.

Paying down some of these is likely necessary, but when it comes to Stanton and McMahon, there are clearly teams who could use them now.

For example, the Cincinnati Reds were willing to bid at least five years and $125 million for Kyle Schwarber to DH for them, thanks in large part to their dire need for power production. Why not take a swing on Stanton after his 158 wRC+ 2025 campaign if the Yankees foot some of the cost?

The Pittsburgh Pirates, a maligned club that has actually been spending for once, need help at the hot corner and are currently dealing with a lot of defensive issues. The third base market is drying up, so Ryan McMahon would fill the positional need while tightening up the defense. He's an upgrade on Jared Triolo (we hope).

Those are just a couple of possible destinations for players who won't yield great returns, but will have some sort of market. If the Yankees can flip them for some lower-level prospects to replenish the minor league depth, that will be an added bonus on top of reducing payroll.

It's strange that this is the place in which we find ourselves, but such is life with this generation of Yankees leadership.