Yankees Backing Out of Blake Snell Sweepstakes for Juan Soto? $500 Million Projections Hamstring Bombers Amidst Crucial Pitcher Search

Things have changed since the massive $240 million plus expectations of Blake Snell came to light. Earlier the New York Yankees were looking likely to sign the Cy Young winner and had also given him an offer. But now that interest looks to be shrinking with each passing day. The reason for that reduction might not be Snell but Juan Soto. 

The Dominican superstar will be a free agent next year. With his arbitration salary touching the $31 million mark, one can predict how big his free agency would be. Could the Yankees be sacrificing today’s happiness for tomorrow’s prosperity here?

The free agency of Juan Soto looms over the New York Yankees 

Since the day Juan Soto got traded to the New York Yankees, one thing has been clear – this is still just a temporary union. If the Pinstripes fail to convince Soto to extend his contract, they’ll be in for a tremendous battle next year. Especially now with Shohei Ohtani resetting the market with a $700 million deal. Perhaps that’s why famous insider Jon Heyman thinks that Blake Snell’s deal looks ‘unlikely’.

Ken Rosenthal predicted the Soto deal could touch the $500 million mark. One can remember that Ohtani’s sweepstakes had begun with a similar number until they went on an overdrive. If something similar happens with Soto, the Yankees need enough money to fund that pursuit. That looks tough in their present situation.

After signing Marcus Stroman to a two-year, $37 million contract, Roster Resource revealed that the Yankees have a $305 million payroll. This is where the genuine issue begins. At this level, the Bombers can make a run for Soto. As of that, $305 million, $31 million belongs to Soto. But what if they add Blake Snell to the mix? If one takes $30 million AAV for Snell from the 5-year, $150 million offer from the Pinstripes, this payroll would skyrocket to $335 million.

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The issue here isn’t the payroll but the tax. At the present level, the Yankees could be looking at a $50 million plus tax. One can only imagine what’ll happen if Snell gets added to this. So what is the option for the SnellZilla in this instance?

Where does Blake Snell stand now?

With the Yankees possibly buying themselves out of the market, the sweepstakes of Snell look a bit barren. While the San Francisco Giants and the Toronto Blue Jays remain in the mix, there’s a feeling that his present demands might not be attractive. Could Scott Boras do the unthinkable and lower his client’s asking price?

As of now, it looks like a tough road for Scott Boras and Blake Snell. Still, a talent like Snell comes once in a while so one can expect a big contract. The only question is – how big can it be?

Read more: Another Philanthropist in the New York Yankees: Exploring Juan Soto’s Contribution to a Better World