Yankees Could Sign Rising Star To Contract Extension This Offseason

Should the Yankees sign one of their top relievers to a new contract?

The New York Yankees had the best bullpen in baseball last season but could lose some of the most impactful hurlers this offseason.

A few of New York's top relievers -- including Wandy Peralta -- are free agents and it isn't clear if they will be back with the Yankees. Especially if the Yankees are going to lose some of their relievers this offseason, it would make sense to lock up some of their top relievers on the roster to multi-year deals to maintain consistency.

One of New York's top arms in the bullpen right now is closer Clay Holmes. The 30-year-old has been in New York for the last two-plus seasons and has taken a massive step forward and even earned an All-Star nod in 2022.

Holmes will be a free agent at the end of the 2024 season but the New York Post's Joel Sherman suggested a multi-year extension could make sense for New York.

"But for a level of continuity and certainty (or as certain as you get with bullpen arms), might it be worthwhile for the Yankees to find a way to keep Holmes beyond 2024? Maybe they have tried. Maybe they will try more in spring training...I wonder if the right comp is Reynaldo Lopez. It is imperfect because Lopez was a free agent after his age-29 season and Holmes will not be a free agent until after his age-31 season, but Lopez was signed for three years at $30 million by the Braves with the idea he would try to start again, which he last did full-time during the 2020 pandemic season...

"However, the Yankees can also use the future certainty offered by Holmes, who might lose control of his sinker a few times a year but has shown he can handle New York and the late innings. Can there be a resolution in which the sides take the $6 million Holmes is due for this season and add it to three years at $30 million to replicate Lopez’s deal and wind up with a four-year, $36 million agreement? Again, I think if Holmes pitches as he has in his two-plus Yankees seasons, he could do better than that. But that is 60-ish appearances from now."

While this doesn't mean a deal is coming, it would make sense. Holmes logged a 2.86 ERA in 66 appearances last season and had 24 saves. He provides stability to the back of the Yankees' bullpen and it would make sense to keep him around for the long term.