As the dust from the World Series settles, the Yankees find themselves in an uncomfortable position: Do they pay Juan Soto, a generational talent, upwards of $60 million a year for 14 years, or do they pivot and look into more depth options? With key positions needing upgrades, Brian Cashman and Co. will need to be extra precise on every move they make (unlike trading for Josh Donaldson!). While free agency seems like a great source of players, they can also rely on internal options or even explore trades. With a clear vision for improvement, let’s dive into the top candidates at each key position—exploring free agents, trade possibilities, and internal options that could help propel the Yankees back to contention.

It is also important to remember that Hal Steinbrenner has stated he hopes to cut payroll from last year. This means the Yankees will most likely avoid jumping over the $301 million tax threshold, as that activates the "Steve Cohen tax."

Positions of Need: First Base, Second Base, 2 Outfielders, Reliever

FIRST BASE

Free Agent Options: Christian Walker, Pete Alonso, Carlos Santana, Paul Goldschmidt, Anthony Rizzo
Trade Options: Yandy Díaz, Cody Bellinger, Vladimir Guerrero Jr.
Internal Options: DJ LeMahieu, Ben Rice, Oswaldo Cabrera
MY PICK: Christian Walker (3 years, $66 million): First base is perhaps the most interesting position for the Yankees, as there are so many good options. I chose Christian Walker because he’ll likely sign a 2-4 year deal, which would allow Aaron Judge to move to 1B in a few years as his body might not handle center field much longer. Pete Alonso would likely want at least six years, making Walker the better choice. I wouldn’t be shocked, however, to see the Yanks re-sign Rizzo as a budget option for $2-3 million to allow Rice to take over soon.

SECOND BASE

Free Agent Options: Gleyber Torres, Jorge Polanco
Trade Options: Brandon Lowe, Jonathan India
Internal Options: Oswald Peraza, Caleb Durbin
MY PICK: Caleb Durbin (Rookie Contract): The Yankees’ talk around Caleb Durbin this offseason suggests one of two things: They either believe in him as a potential starter at 2B, or they are trying to drive up his trade value. I’ll assume the former, as they seem to love his playstyle (and so do I). A 5’6 short king who plays defense and steals bags? The Yanks might have their own Jose Altuve (with no buzzer!). Also, being on a rookie contract, this move would allow the Yankees to spend more money elsewhere. A Yandy Díaz and Brandon Lowe trade package is also enticing, with Lowe's fit for the short porch in right field.

OUTFIELD (2 Players)

Free Agent Options: Juan Soto, Anthony Santander, Teoscar Hernández, Tyler O’Neill, Michael Conforto, Max Kepler
Trade Options: Cody Bellinger, Luis Robert Jr., Brent Rooker
Internal Options: Everson Pereira, Duke Ellis, Spencer Jones, Elijah Dunham
MY PICK: Juan Soto (14 years, $640 million) and Jasson Domínguez: If one of these outfield spots is filled by anyone other than Juan Soto, Yankee fans might riot. The combination of Judge and Soto at the top of the order is generational, as both players are AL MVP nominees. Jasson Domínguez should also be in the starting lineup plans for 2025, as he needs full-time playing experience with Alex Verdugo now gone.

RELIEVER

Free Agent Options: Tanner Scott, Jeff Hoffman, Clay Holmes, Kirby Yates
Trade Options: Ryan Helsley, Devin Williams
Internal Options: Scott Effross, McKinley Moore, Cody Morris, Will Warren
MY PICKS: Ryan Helsley and Scott Effross: With players like Wandy Peralta, Clay Holmes, Ian Hamilton, and Luke Weaver, it’s clear the Yankees are confident in their reliever development and will likely sign a few lesser-known players. Matt Blake will work his magic, turning them into pitchers who throw 100 mph with movement! However, they should pursue one bona fide closer, so I have them trading with the Cardinals for Ryan Helsley. Effross should also be on the roster, as he has plenty of contract years left.

The Yankees have many good options for most positions, but re-signing Juan Soto is clearly the priority. If Soto decides to go across town to the Mets or to another team, the Yankees will need to pivot and get a good, lefty outfielder to replace him.