Yankees had unusual reason for not matching top Yoshinobu Yamamoto bid

Aug 14, 2023; Atlanta, Georgia, USA; A detailed view of a New York Yankees hat and glove on the bench against the Atlanta Braves in the third inning at Truist Park. Mandatory Credit: Brett Davis-USA TODAY Sports

The New York Yankees were outbid by the Los Angeles Dodgers in their pursuit of Yoshinobu Yamamoto, as they refused to go above $300 for the Japanese ace. There was slightly more at play than simply the financial figure, however.

The Yankees felt that $300 million was a fair offer and did not want to go above it, as we were already aware. However, according to Jon Heyman of the New York Post, they also did not want to hand out a bigger deal than the nine-year, $324 million contract they gave Gerrit Cole prior to the 2020 season.

Yankees decided not to match Dodgers winning $325M bid to Yamamoto because: 1) they thought $300M was right offer, 2) they didn’t believe anyone should have a bigger deal than Gerrit Cole. NYY offered optout after 5 yrs but not a $50M signing bonus. Highly unlikely it mattered.

— Jon Heyman (@JonHeyman) December 23, 2023

This may be a matter of respect for Cole, or even a reluctance to reset the market, as Cole’s deal was the previous record for a pitcher. Cole has the right to opt out of the contract after the 2024 season, so if the former was their concern, they easily could have rectified that a year from now.

Ultimately, the Dodgers were willing to pay the extra $25 million. The Yankees absolutely could have done the same, but did not. Time will tell if they wind up regretting that, because they certainly could have used another elite pitcher.