The 2025 Yankees were a team that should’ve had all the pieces necessary to build on their first pennant in 15 years and make a serious run at winning the World Series.
They had a powerful offense, which, while lacking towards the bottom, boasted six hitters with a wRC+ north of 125, all in the lineup. They had worthwhile bench platoon options, and even their below-average hitters at the bottom of the order were playable and boosted the team defensively.
Speaking of defense, while it was heavily publicized
as an issue for much of the season, it really wasn’t come October. The team’s weakest defensive positions (SS, CF, 1B) did not hamper them in October in any meaningful fashion, while they benefitted from above average defense at second base, the corners of the outfield, and third base.
The rotation was stout despite injuries. The Yankees had the fourth best rotation ERA despite missing Gerrit Cole, Clarke Schmidt, and Luis Gil for most or all of the season. They were able to squeeze 33 passable starts out of Will Warren, got All-Star campaigns from Carlos Rodón and Max Fried, and uncovered a gem in Cam Schlittler.
And yet, they fell flat. Sure, the offense outside of Aaron Judge was extremely disappointing and the team didn’t get the production out of Rodón and Fried that they wanted, but there was one major issue that lurked over the team all season long that, while not catastrophically bad in October, was one that derailed the team’s chances of winning the World Series.
That was, of course, the bullpen. The Yankees have always been known for a strong bullpen despite other shortcomings, but this year was an unmitigated disaster. Early injuries to guys like Jake Cousins, regression for other mid-level arms, and the bizarre topsy-turvy campaigns of Devin Williams, Luke Weaver, and Camilo Doval left the armbarn in tatters in October to the point that only Williams and David Bednar could be trusted with any leverage against a team’s best bats.
After how the bullpen dragged the team down in 2025, it would make all the sense in the world to rebuild it. With Williams, Weaver, and Jonathan Loáisiga likely departing, the Yankees will have ample space to reform what was a weakness into a strength. While the strategy of late has been letting Matt Blake uncover hidden gems at a low price, it might be worthwhile to make a bigger investment.
While Blake has uncovered many useful arms in recent years like Lucas Luetge, Tim Hill, Michael Tonkin, Jake Cousins, Clay Holmes, and others, there’s inherent risk in relying on project arms. In 2025, you saw what happens when that risk plays out. When your most effective under-the-radar reliever was Yerry De los Santos (who wasn’t on the playoff roster), that’s concerning.
Projects like these work best at the periphery of a bullpen. Some of the team’s biggest success stories started in low leverage and winded up working their way into the circle of trust as the season progressed. Last year, the Yankees didn’t have a circle of trust for much of the year, as injuries to Weaver and Fernando Cruz, underperformance, and a disappointing trade deadline kept the bullpen a weakness.
As of right now, the Yankees will likely build their bullpen around Bednar, Cruz, Doval, Hill, and Jake Bird. While there’s potential for those five to be effective, it’s not something the team can afford to manage right now. They’re in serious danger of having to roster and rely on the likes of Hamilton, De los Santos, and Brent Headrick.
So, what’s the solution? As much as it would be fun, the Yanks are not really in a position to pounce at the top of the reliever market. There’s a case to be made to make a big jump at the likes of Edwin Diaz, give an eight-figure deal to Raisel Iglesias or Robert Suarez, or to give a prove-it deal to Devin Williams, but more often than not, these big-money deals do not work out.
Just look at the Dodgers, who looked to shore up their bullpen by handing out a combined $40 million per year to Blake Treinen, Kirby Yates, and Tanner Scott, only for all three to do more harm than good to their repeat World Series championship campaign.
Recent big-money deals have been a disaster for this organization as well (see: Zack Britton and Adam Ottavino’s extensions). In fact, they’ve had much more success with mid-level deals. The two-year, $12 million pact handed to Tommy Kahnle prior to 2023 was a sneakily good move by Brian Cashman that paid dividends until the fan-favorite’s efficacy dropped off late in 2024. They gave Tim Hill an essential two-year deal after he impressed in 2024 and he was a weapon against lefty lanes all season.
Who are candidates to sign deals like this with the team this offseason? There are a number of reclamation projects that the team could look to sign after damaging their value in 2025, such as Ryan Helsley. There are veteran relievers who, due to their age, might not yield eight-figure contracts, such as Danny Coulombe, Phil Maton, Kyle Finnegan, and Steven Matz.
There will be a bunch of mid-level relievers available to the Yankees that fill a variety of roles in the bullpen. While none of them can step in and be a closer, the Yankees hope they have that in Bednar and will likely rely on more Matt Blake magic.
Ultimately, the most money in the offseason puzzle will not go towards the bullpen. The team will need to figure out the Cody Bellinger and Trent Grisham free agencies, and while the offense remains one of the best in the sport entering free agency, it can always be improved.
Regardless, the Yankees cannot rely on low-cost scraps to fill out their bullpen after how it blew up in their faces last year. For a team trying to rebound and contend in 2026, they need a sturdier bullpen than they currently have.
