Yankees Extend Offer to Blake Snell
The New York Yankees have made an offer to free agent left-hander Blake Snell, although the Los Angeles Angels and San Francisco Giants are still in the running.
Yankees Make Offer to Snell
According to Mark Feinsand of MLB.com, the Yankees have extended an offer to free agent pitcher Blake Snell. While the Angels and Giants are still potential suitors, the Yankees have made their interest clear. However, Andy Martino of SNY has cast doubt on the momentum of negotiations, suggesting that a deal may not be imminent.
The Athletic reports that the Yankees have made an offer to Snell without any opt-outs. It is important to note that this offer was made to Snell before the Yankees signed Marcus Stroman. Previously in January, the Yankees offered Snell a six-year, $150 million deal. However, Snell was looking for a longer contract or a higher average annual value (AAV) of $30 million or more.
Yankees' Financial Limitations
While the specific details of the current offer are unknown, it is unlikely to be a short-term deal with a high AAV. The Yankees' competitive balance tax status complicates their ability to take on a high AAV contract. With their current CBT number already exceeding the fourth tier at $307 million, the Yankees face a 110% tax as a third-time payor.
This limits the Yankees' flexibility in negotiating with Snell. For instance, if they were to offer Snell a $40 million salary on a short-term contract, the additional taxes would amount to $44 million, making the Yankees effectively pay $84 million to have Snell on their roster in the current year.
Snell's Uncertain Market
Blake Snell's performance presents a dilemma for interested clubs. While he is undoubtedly talented, winning the Cy Young Award last year with the Padres and posting a 2.25 ERA, his inconsistency raises concerns. In the years between his Cy Young wins (2019-2022), Snell had a 3.85 ERA and struggled to pitch more than 130 innings in a season.
While some teams may prefer a short-term deal due to Snell's lack of reliability, many contenders, like the Yankees, are already over the CBT threshold and face substantial taxes. Additionally, other teams have financial limitations due to bankruptcy or uncertainties surrounding TV revenue. The Yankees' initial offer in January had an AAV of $25 million, and it remains to be seen if their new offer significantly differs.
