Patience is a virtue for Yankees general manager Brian Cashman. After striking early to get in front of the third base market with Ryan McMahon and supplementing him with a pair of bench/platoon moves in Amed Rosario and Austin Slater, the Bronx hot stove cooled down a bit as the rest of the league ramped up their wheeling and dealing, especially with relievers. Jhoan Duran went to the Phillies, Ryan Helsley was off to the Mets, and the big blow, Mason Miller, cruised to San Diego in a blockbuster.
The best relief arms were quickly coming off the board and there was an antsy feeling in the fanbase. As the Yankees’ game was put into a rain delay in the Bronx, the front office sent in the trade to acquire right-handed reliever David Bednar from the Pirates in exchange for three prospects. Shortly after, New York made a second deal of the past week with the Rockies, bringing right-handed reliever Jake Bird into the fold.
Once the game continued about 35 minutes before the deadline, Cashman made his last two tweaks, acquiring Rays infielder José Caballero and Giants reliever Camilo Doval right before the buzzer. For Caballero, he learned of the trade while in the dugout and had to be removed from the game to switch dugouts.
One thing that the Yankees coveted with their bullpen help, as they always do, is control. The team hasn’t acquired a rental reliever at the trade deadline since they took a gamble on Keynan Middleton in 2023 and before that, Joely Rodríguez in 2021 (whose contract option was declined).
Bednar is no different from their typical pattern, as the 30-year-old is under contract for the 2026 season. The Yankees will be on the hook for approximately $1.9 million for the remainder of 2025 before having to deal with Bednar’s final arbitration year. With strong numbers this year (especially after an April reset at Triple-A), Bednar could command in the ballpark of $10 million for the 2026 season after making $5.9 million in his second arbitration year.
Doval is making $4.5 million in his first year of arbitration. The Yankees owe him about $1.435 million for the remainder of 2025 and will have him under control through the end of the 2027 campaign. His arbitration might get expensive, as he still has two years left to negotiate raises.
As for Bird, if the Yankees can get the best out of him, it can be a spectacular move. Bird enters his first arbitration year next year and will not hit free agency until after the 2028 season. His minimum salary will also allow the Yankees to cut him without reservation if things go south (think Enyel De Los Santos, though his outlook is much brighter).
Caballero is a Super Two player, meaning he has four years of arbitration and will be under control through the end of the 2029 season. With three options, the speedy infielder will give the Yanks tremendous flexibility on and off the field. If there’s a roster crunch upon Aaron Judge’s activation from the IL, he could be the odd man out, at least temporarily.
Most importantly, the team has pieces to build the 2026 bullpen around. Luke Weaver and Devin Williams are going to hit free agency this winter, while Tim Hill and Jonathan Loáisiga possess club options. Based on how their seasons are going, the team will likely cut Loáisiga loose, meaning they’ll have their three highest-paid relievers out the door this offseason. Despite all the money coming off the books, it would be a surprise to see the team retain more than one of those three, if that. Weaver and Williams could command upwards of $10 million due to their strong reputations.
So, an early look at the 2026 bullpen includes Bednar, Bird, Doval, Mark Leiter Jr., Fernando Cruz, and likely Hill as the foundation. You’d hope the team invests a little in the bullpen this offseason to avoid a catastrophe like what’s occurred this month, but they have a very solid foundation.
As for the farm system, its depth takes a significant hit (Nolan just wrote about the many prospects who went out the door), but the Yankees have avoided trading their consensus top seven prospects, keeping the system stout for a potential blockbuster down the road. Rafael Flores and Trystan Vrieling were the lone prospects traded who were Rule 5-eligible, notable in the fact that Cashman likes to trade as many of them as possible at deadlines. Elmer Rodriguez-Cruz, Spencer Jones, and Brendan Beck are among the notable Rule 5-eligible prospects to remain in the system; the Yankees will have to make a decision on adding them to the 40-man roster this fall.
The Yankees have been a catching factory for the last half decade and the Pirates (potentially unconvinced with Henry Davis?) look to get the next big scoop in sniping Flores and Edgleen Perez. Flores profiles as a bat-first backstop that might not stick behind the plate, while Perez is a strong defensive catcher with a bat that’s lagging behind. They also added outfielder Brian Sanchez, acquired by New York in the Jake Bauers trade after 2023.
The Yankees are reportedly sending three Top 30 prospects to the Pirates in exchange for David Bednar, per @alexjstumpf:
— Baseball America (@BaseballAmerica) July 31, 2025
8. Rafael Flores, C/1B
16. Edgleen Perez, C
24. Brian Sanchez, OF
Check out this throw from Perez pic.twitter.com/447jTjkLPo
For the first time in a while, there’s a bit of a scarcity in the farm system when it comes to coveted catching prospects, as Jesus Rodriguez is gone in addition to Flores and Perez. Omar Martinez, just promoted to Triple-A Scranton (only five weeks after being bumped from High-A to Double-A), feels like the highest-rated one at this current moment. With Austin Wells, Ben Rice, and J.C. Escarra entrenched as MLB catching options with plenty of control, this doesn’t seem to be a problem for the team’s near future.
Roc Riggio was enjoying a breakout season in Double-A Somerset with his power numbers surging. The former fourth-round pick was one of the best hitters in the system in 2025, but his lack of positional versatility (he’s only been playing second base) might’ve made him expendable. No middle infield prospects in High-A are angling for an immediate promotion.
Roc Riggio at altitude could be fun. 51% hard hit rate, 36% ground ball rate, 18 homers in 62 games this year. Average launch angle on hard hit baseballs of nearly 20 degrees. https://t.co/wPml51rsdZ pic.twitter.com/oClDhWgrCk
— Aram Leighton (@AramLeighton8) July 31, 2025
The team said goodbye to several members of the 40-man roster, including Oswald Peraza, Everson Pereira, and the aforementioned Rodriguez. Bryan De La Cruz, a Triple-A outfielder who had previously been with the Braves and Pirates, was also designated for assignment. Pereira was beyond logjammed in the outfield, passed by several of his peers and his value quickly dropped. Good on the organization to get something for him and even a DSL hitter and international signing money for Peraza.
Can we get a round of applause for the Yankees’ scouting department? Flores, Ben Shields, and Parks Harber were all signed as undrafted free agents in the last four years and all three were used to completely remake the bullpen. When you have significantly fewer draft picks than everyone else, these are the shrewd moves you need to make to consistently prop up a contender.
The pitchers dealt, Shields, former second-round pick Trystan Vrieling, and DSL prospect Carlos De La Rosa weren’t as valuable as the arms that the team dealt in the trades earlier this week, but do a number on organizational depth. If any player in that Doval package comes back to hurt New York, it’ll be De La Rosa, albeit in a half decade or longer. Double-A Somerset is now down two starters, so you might see Kyle Carr, the Yankees’ new No. 14 prospect according to MLB Pipeline, get a promotion to replace them in Double-A after posting a 2.16 ERA across 17 starts in his second year with High-A Hudson Valley.
That’ll do it for the Trade Deadline. The Yankees did not touch any of their top seven prospects, but dealt nine of their top 24, according to MLB Pipeline. While they weren’t able to seal the deal on a controllable starter ahead of the 6pm deadline on July 31st, they have all the ammo they need.
More from pinstripealley.com:
- Yankees acquire Doval, Caballero at Trade Deadline buzzer
- Yankees get both quantity and quality in upgrading bullpen
- Yankees Trade Deadline Coverage
- Aaron Judge heading to the IL with a flexor strain
- Yankees 2025 draft tracker: 18 of 19 draftees sign
- Pinstripe Alley’s Top 100 Yankees
- 2000 Yankees Diary: The 25th Anniversary of MLB’s Last Three-peat
