Michael Pineda lost velocity on his fastball, Pineda lost control of his pitches, Pineda is injured and will miss the first month of the season.
The news suddenly got worse and worse, and Yankee fans are outraged that they traded away their top prospect for "damaged goods."
The New York Yankees have been on the wrong end of some lopsided trades and here are the top three from the last decade.
During the 2006 offseason, the New York Yankees traded away Gary Sheffield to the Detroit Tigers for three minor league pitchers.
At the time it seemed like New York won the trade, acquiring a top pitching prospect and insurance for no more than salary dump.
As the years went by, though, Detroit clearly came out on top.
The Tigers received 25 home run and 80 RBI season from Sheffield in 2007.
The Yankees received three pitchers who have combined to pitch 6.1 innings and allow 12 runs.
Of course, this wasn't a big burn, as New York cruised to another postseason berth.
Hungry for another World Series title run, the New York Yankees acquired Austin Kearns near the trade deadline to bolster their bench.
Initially, the the trade involved the mysterious "player to be named later." The trade was eventually completed with the Cleveland Indians asking for Zach McAllister.
Kearns was hitting a weak .235 AVG after the trade and was left off the postseason roster as a result.
McAllister, the 2009 Yankees Minor League Pitcher of the Year, is now the eighth-ranked prospect in the Indians system and should be brought up in September when the roster expands.
This one stings a bit for Yankee fans, but McAllister has yet to have success at the major league level and could drop off the face of the earth like Kearns.
Tyler Clippard was sent to the Washington Nationals during the 2007 offseason for Jonathan Albaladejo.
When Clippard was with the New York Yankees, he was exclusively a starter, but had seldom success. Clippard was converted to a reliever and is now an all-star setup man with an insanely high strikeout rate.
Albaladejo looked promising in 2009, setting the single-season save record for the International League with 43. However, Albaladejo asked to be released to pursue a career in Japan starting the 2011 season.
This is quite possibly the trade the Yankees got burned on the most in the last 10 years.
That brings us to the Jesus Montero and Michael Pineda trade.
First impressions aren't so good, with Pineda missing the first month of the season.
It is too early to decide a winner out of this trade, though. Jose Campos, the other pitcher acquired in the deal, is starting off well in Double-A and could become a solid starter in a few years.
In my opinion, I think the Yankees should have kept Montero. An offensive catcher is much more difficult to find on the market than a starting pitcher. With Jorge Posada retiring and Russell Martin only on contract for another year, the Yankees may find that they needed him more than Pineda.