Yankees Whiff on Top Free Agent Target; Where Can They Pivot?

The Yankees were reportedly in on left-handed ace Blake Snell before he agreed to terms with the Dodgers on Tuesday night.

San Francisco Giants pitcher Blake Snell tossed a no-hitter against the Cincinnati Reds on Aug. 2 for his first career complete game. / Katie Stratman / USA TODAY NETWORK via Imagn Images

The first major free-agent domino of the offseason has fallen, and it was a pitcher the New York Yankees were reportedly eyeing.

On Tuesday night, left-handed ace Blake Snell reached a five-year, $182 million agreement with the Los Angeles Dodgers, with around $60 million of the deal reportedly deferred, according to Jack Harris of the Los Angeles Times.

Snell, 32 in December, went 5-3 with a 3.12 ERA and 1.20 WHIP in 20 starts with the San Francisco Giants this past season. He also tossed the first no-hitter of his career on August 2.

As reported by MLB.com's Mark Feinsand, the Yankees, Boston Red Sox, and Baltimore Orioles were all pursuing Snell, a two-time Cy Young Award winner, before he ultimately chose to join the defending World Series champions.

Jon Heyman of the New York Post added that the Yankees even held a Zoom meeting with Snell earlier in the day, signaling their interest in the left-hander. However, Heyman also pointed out that the Yankees’ starting pitching plans will be delayed until the situation with Juan Soto is resolved.

Yankees had a zoom call with Blake Snell just today. But their near total focus is on Juan Soto. Their plan Bs need to wait a bit.

— Jon Heyman (@JonHeyman) November 27, 2024

Despite missing out on Snell, Feinsand mentioned that the Yankees are expected to remain active in the starting pitching market, with several top arms still available. Max Fried is the most prominent left-handed pitcher still on the market, while right-handed options like Corbin Burnes and Jack Flaherty remain in play.

The Yankees, Red Sox and Orioles were all in on Blake Snell before he signed with the Dodgers, per source. Expect those three to remain active on the pitching market, with names like Corbin Burnes, Max Fried and Jack Flaherty among the top arms available.

— Mark Feinsand (@Feinsand) November 27, 2024

One intriguing alternative could be 23-year-old right-hander Rōki Sasaki, who is expected to be posted by his Japanese club this winter. Since he is younger than 25, Sasaki will be available at a significantly lower cost than other top free agents, as he will be considered an amateur free agent and can only sign a minor league deal. This limits the financial terms of his contract and reduces the posting fee the Chiba Lotte Marines can collect, despite his international stardom.

The Snell signing caught some by surprise, as many expected the Soto sweepstakes to hold up the rest of the market. Soto, who has received preliminary offers from five teams, is expected to go through multiple rounds of negotiations before reaching a decision, likely during or just before the Winter Meetings in Dallas on December 9.

Should other high-profile free-agent pitchers finalize deals before then, it could impact the strategies of teams like the Yankees, Red Sox, and New York Mets, who are all determined to upgrade their rosters—aside from pursuing Soto.