Sources: Yankees would raise payroll to accommodate both Juan Soto and Yoshinobu Yamamoto
NASHVILLE -- The Yankees are willing to raise their payroll to more than $300 million for the first time in order to add Juan Soto and Yoshinobu Yamamoto, according to sources familiar with owner Hal Steinbrenner’s thinking.
"Absolutely," one source said. "One has absolutely nothing to do with the other."
The Yankees have never said publicly if it is within their budget to add both players, and rivals pursuing Yamamoto have hoped that it's not.
In November, Steinbrenner said, "You shouldn’t have to have a $300 million payroll to win a world championship because nobody has, including Houston."
The Yankees had a payroll in the low $290 millions last year -- second-highest in MLB after the Mets -- and are estimated to be at more than $250 million for 2024 without adding Soto or Yamamoto. Those two alone will cost at least $30 million each before accounting for any other acquisitions, and clubs like to set aside another $10-15 million for the trade deadline.
As the Yankees close the Soto deal, it is now clear that they are willing to blow by a new threshold if they can convince Yamamoto to join the team.
Yamamoto will meet in the U.S. with MLB clubs next week.
The final "Steve Cohen" luxury tax threshold is set at $297 million this year, and the Yankees are prepared to exceed it.
