With Wednedsay's 8 p.m. non-tender deadline for MLB now passed, the Yankees have non-tendered one player, agreed to deals with two others, and tendered contracts to eight more arbitration-eligible players.
Jonathan Holder was the non-tendered Yankee, who was projected to make around $1 million for 2021. After a rough 2019 season (6.31 ERA), he wasn't much better with a 4.98 ERA over 18 games in the shortened 2020 campaign.
The two players who settled before arbitration were Luis Cessa and Ben Heller, whom the Yankees both announced as signed on Wednesday night. Cessa settled for $1 million, while Heller's price tag wasn't disclosed.
For the other arb-eligible players, the team and that player's agent have until a set date -- usually at some point in February -- to come to terms on a new contract. If that doesn't happen, both sides submit salary proposals and the player's salary is determined at a hearing by independent arbitrators.
According to MLB Trade Rumors, using their formula that determines value by extrapolating the 60-game season over 162 games, here's what the Yankees' arbitration-eligible players are projected to make in 2021...
OF Aaron Judge: $10.7 million
C Gary Sanchez: $6.4 million
1B/DH Luke Voit: $7.9 million
3B Gio Urshela: $5.2 million
SS Gleyber Torres: $3.4 million
LHP Jordan Montgomery: $2 million
OF Clint Frazier: $2.6 million
RHP Chad Green: $2.2 million
Adding up the agreements and projections (including Heller's projected $800K), the total comes to $42.2 million.
When you factor in other under-contract players for 2021 like Gerrit Cole ($36 million) and Giancarlo Stanton ($29 million), you get roughly $172 million committed to payroll.
With the luxury tax threshold expected to be around $210 million for this season, the Yankees would have about $38 million to work with. A chunk of that money should be going to DJ LeMahieu -- if he ends up re-signing with New York -- and the rotation is another area of need.