The New York Yankees are one of the most fascinating teams to watch with Major League Baseball’s return — not because of what they are, but what they refused to become. An uncharacteristically slow offseason from GM Brian Cashman either shows ultimate faith in the foundation the Bronx Bombers have built, or an unbelievable sign of hubris. Which way the needle falls is anyone’s guess. Check out where the Yankees land on our Opening Day power rankings.
“Restraint” isn’t typically a word that fits in the Yankees’ lexicon, especially after a successful season. 2025 was a major victory for New York, even in light of their ALDS loss. It was supposed to be a lost year, taken away before it began with Gerrit Cole’s Tommy John surgery — and yet, the Yankees managed to rally on the back of successful moves to register the same 94-68 record as the year prior. Signing Max Fried to big money paid off, with the free agent sliding into Cole’s role without missing a beat, posting a 19-5 record and a 4.4 WAR in his first year in the Bronx. Similarly, the addition of Paul Goldschmidt, the team’s other major signing, also reaped rewards as the veteran finished third on the team in hits behind Aaron Judge and Cody Bellinger, proving there was life left in the 37-year-old.
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Instead of making the distinctly Yankee move of throwing more gasoline on the fire, backing the wheelbarrow up once more, Cashman instead chose to play with house money. He re-upped Bellinger, gave Trent Grisham the qualifying offer, extended Goldschmidt, and more of less called it a day.
Cashman ostensibly traded one brand of risk for another. Rather than rolling the dice on a big-name free agent who would have made the team better on paper, but potentially alter the chemistry — he’s instead gambling on his belief that his foundation is the correct one. That’s much riskier than it might sound, and requires a lot to go right.
No. 1: Gerrit Cole needs to be back to (almost) his old self
Any discussion of the Yankees begins with their ace. When healthy, Cole is one of the best pitchers in MLB — but he’s also aging, and Tommy John surgery recovery is the biggest mystery in baseball. There’s ample statistical and medical evidence that players who come back from the surgery aren’t the same as they were before, which casts a shadow on his future.
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The question becomes: If Cole takes a step back, are the Yankees good enough with Fried as their ace? After all, Fried was signed initially as their second lights-out pitcher to accompany Cole, not replace him. While the Yankees managed to eek out the same result in 2025 as the year prior with Fried on the mound, there’s a host of challenges that enter the picture when you’re trying to integrate a recovering player into the lineup — especially one who won’t return until May. That’s accompanied by questions whether Carlos Rodón can keep up his staggering 2025 turnaround for another year.
If Cole is able to come back close to where he left off, then the Yankees will be a team to watch, and probably one that can win the AL East. If not, they’re going to take a step back.
No. 2: The prospects come up roses
There are really three guys to watch when it comes to the Yankees farm system, and they help define the lack of offseason moves a little more.
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George Lombard Jr. is pencilled in as the heir apparent at shortstop, bringing an immeasurable amount of hype with him. A first-round pick in 2023 is pencilled in to start the season in Double-A, with the team is taking a cautious approach in bringing him up too quickly. That said, there is a possible scenario that if Anthony Volpe returns from injury and struggles, then perhaps he could be called up to fill the void.
The two players after Lombard Jr. are the ones who figure the most into this season. It’s a tale of two pitchers with Carlos Lagrange and Elmer Rodriguez both seeming ready to make the jump. Lagrange would bring something entirely different to the table for the Yankees with a four-seamer that was clocked at 103.1 mph this spring training. That’s heat the lineup doesn’t really have right now, and would be a huge boost if he can handle the load. Meanwhile Rodriguez has been tantalizingly close to a major league debut, and could be best used as a relief pitcher to start his time in the majors.
If these three players pan out, then Cashman would be a genius for holding off on making a big move.
No. 3: The Jays and Red Sox take a step back
There’s no doubt Boston got a big pitching boost in signing Ranger Suarez, but they’re also losing the bat of Alex Bregman in free agency. Similarly, the Jays spent big on Dylan Cease but lost Bo Bichette. That’s a lot of big-player movement inside the AL East, and the Yankees will hope that staying pat proves to the right move while their two main rivals made big moves, but perhaps upset their balance in the process.
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That might seem more like hope than a plan, however — which makes things a little nervewracking.
The scary part is that the Yankees have no wiggle room
What Cashman has done this offseason has cast the team’s lot with the players already in the building, and believing that injury returns will get them through. There’s very little redundancy built into the roster, and while the teams’s starters are strong, their bench is very shaky.
If you assume that Cole can come back well, then the Cole/Fried/Rodon lineup is as good as you’ll find in baseball. If the prospects can add to that at all, well, the Yankees could be downright scary. That said, it feels like continually mounting “and ifs..” on this team when it comes to determining if they will be back or not.
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Either way, this is a fascinating moment for the Yankees when it comes to the Cashman era. It’s defined by playing it safe and belief in themselves. All that’s left to do is see if they’ll soar, or plummet to the earth like Icarus when the sun comes out.
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