Yankees' 2025 Free Agents, Trade Targets, Offseason Guide After ALDS Exit

What began with a torpedo bats-fueled bang ended with a "can't get anyone out" whimper, as the New York Yankees were knocked out of the postseason by the Toronto Blue Jays in the ALDS.

Ever the lightning rod for hot takes, the Yankees' regular season had even more twists and turns than usual.

Along the way, there were Devin Williams implosions, Anthony Volpe woes, a boatload of home runs, sloppy baserunning, sloppier defense, a spirited AL MVP debate and many questions about whether Aaron Boone is the biggest impediment holding this team back.

For the 16th consecutive year, though, the Yankees enter the offseason without a parade.

What's their plan for making sure 2026 doesn't end in that all-too-familiar heartbreak?

We'll discuss impending free agents and key options decisions before identifying areas of need and possible targets, culminating in a way-too-early projection of the Yankees' 26-man roster when they open the 2026 campaign against the San Francisco Giants a little less than six months from now.

Notable Free Agents

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Notable Free Agents

• CF Trent Grisham
• RHP Devin Williams
• 1B Paul Goldschmidt
• RHP Luke Weaver
• LHP Ryan Yarbrough

Who could have guessed before the season that—instead of planned 2025 closer Devin Williams or last fall's closer Luke Weaver—Trent Grisham would be the Yankees' biggest "How do we replace that guy?" dilemma?

Grisham was the rarely-even-mentioned portion of that colossal Juan Soto trade with San Diego two winters ago, playing a minor role for New York in 2024.

From 2022-24, he triple-slashed .191/.298/.353 with 39 home runs in 1,288 trips to the plate (33.0 PA/HR), and he was in the starting lineup for just one of New York's first five games this season.

Out of nowhere, he clubbed 34 home runs in 581 plate appearances (17.1 PA/HR), demolishing his previous career high of 17 en route to ranking second only to Aaron Judge on this roster.

One-year qualifying offers only get accepted about 10 percent of the time, but Grisham could be a case where it happens. We'll see if the Yankees even extend him that $22 million proposal, though.

Williams and Weaver are also major losses, combining for 26 saves and 36 holds during the regular season. And though Paul Goldschmidt's bat cratered from a .902 OPS through 56 games to a .604 OPS the rest of the way, they'll at least miss his four-time Gold Glove at first base.

Notable Option Decisions

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Cody Bellinger

Notable Club/Player Options

• OF Cody Bellinger ($25M player option with $5M buyout)
• LHP Tim Hill ($3M club option)
• RHP Jonathan Loáisiga ($5M club option)

Jonathan Loáisiga has suffered an elbow injury in each of the past three seasons, logging a combined total of 51.1 IP. He missed the final two months of this campaign and the Yankees will likely decline that club option.

Tim Hill, on the other hand, has given the Yankees 111.0 innings with a 2.68 ERA since mid-2024. Bringing back that southpaw for just $3 million is a near-certainty, especially given how many other relievers they're slated to lose this winter.

Cody Bellinger is the biggest one here by far, though it is almost a lock he will decline that option in pursuit of a multi-year deal after what was his second impressive bounce-back season in the past three years. That doesn't necessarily mean he's done with the Yankees, though. They'll just need to increase their investment to keep him around.

Biggest Needs

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Relief Pitching

Recently minted closer David Bednar is under team control for one more season. And though Camilo Doval's first six weeks with the Bronx Bombers were rather disastrous, the former Giants closer with more than 100 career saves has two years of arbitration eligibility remaining. Fernando Cruz isn't going anywhere, either.

Beyond that, though?

Middle relief was already an adventure for New York for most of the season, and two of their biggest seventh and eighth inning staples (Devin Williams and Luke Weaver) are headed for free agency.

It's unlikely they'll add a trio of eight-figure contracts to the bullpen like the Dodgers did last offseason, but the Yankees will be mighty busy on this front.

Center Field

Should the Yankees fail to re-sign either Trent Grisham or Cody Bellinger, center field becomes a gaping hole. Beloved prospect Spencer Jones does primarily play center, but considering former top prospect Jasson Domínguez never became the star this season they hoped he would be by now, are the Yankees even going to entertain the possibility of entering 2026 with a Plan A of Domínguez in left and Jones in center?

First Base

It's plausible they'll just let it ride with Ben Rice as the primary first baseman in 2026. He did post an .836 OPS this season while bouncing between first base, catcher, designated hitter and pinch hitting duties, but they do at least need to address what will be a depth issue with Paul Goldschmidt out of the picture.

Free-Agent Targets

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RHP Devin Williams

Stare for long enough at the 4.79 ERA, six losses and four blown saves and you'll convince yourself re-signing Devin Williams is a terrible idea the Yankees would never consider.

However, look instead at what was a sub-3.00 FIP and a sub-3.00 xFIP for a sixth consecutive season, and you'll see a buy-low candidate who had an almost impossibly terrible strand rate out of nowhere.

Instead of a four-year, $72 million deal like Tanner Scott got last winter, Williams hitting free agency fresh off the worst season of his career is maybe headed for one of those "one year plus a player option" contracts that have become popular after underwhelming walk years.

If he's going that route, though, he's probably choosing a landing spot where he's all but guaranteed a fair shake at the closer job, which wouldn't be the case with the Yankees.

OF Cody Bellinger

If the Yankees are re-signing either of their free-agent outfielders, it's likely they'll prioritize Cody Bellinger over Trent Grisham, as the former had at least shown an aptitude for hitting prior to this season.

Bellinger also has had quite a bit of experience at first base throughout his career, and that flexibility would be fantastic as they decide how many 2026 eggs to place in the Ben Rice, Spencer Jones and Jasson Domínguez baskets.

If the Yankees aren't re-signing Bellinger or Grisham, though, it's slim pickings out there. Bringing Harrison Bader back to the Bronx could be good, though he has a $10 million mutual option with the Phillies and just might stay with them.

RHP Seranthony Domínguez

The Mets have (Juan) Soto and (Gregory) Soto, so why shouldn't the Yankees have (Jasson) Domínguez and (Seranthony) Domínguez?

The former Phillie, former Oriole and about-to-be-former Blue Jay has long been a solid late inning option with 40 saves and 78 holds to go along with a career 3.50 ERA. And if the Yankees sign him, they no longer need to worry about facing him and the 9.1 scoreless innings he has logged in nine career appearances (including postseason) against them.

1B Pete Alonso OR 1B Josh Naylor

There will, of course, be Pete Alonso chatter as he hits free agency for a second straight winter. But is slugging at first base that much of a priority for the Yankees? When they can probably get Josh Naylor's comparable career on-base percentage for a fraction of the Polar Bear's asking price?

Trade Targets

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The Yankees traded for both Devin Williams and Cody Bellinger this past offseason, this after that mammoth Juan Soto deal from the previous winter. While you can almost always count on their deep pockets to make at least one big splash in free agency, they also love a good blockbuster and could go the trade route to address their needs.

LF Steven Kwan, Cleveland Guardians

The big question here is whether the Yankees would be comfortable with making Jasson Domínguez the primary center fielder. If so, getting Kwan's elite glove in left field and his career .351 on-base percentage into the lineup in front of Aaron Judge sure would be swell.

There was a lot of talk about Cleveland possibly trading him away a couple months ago, and for his final two years of arbitration eligibility, perhaps the Yankees will make the Guardians an offer they can't refuse.

1B Yandy Díaz, Tampa Bay Rays

Yet another "OBP hero" option, Díaz won the AL batting title in 2023 and has a .379 on-base percentage since the beginning of 2022. He is owed $12 million in 2026 and either $10M or $13M in 2027, pending how many plate appearances he makes next season. Either way, it's pittance to the Yankees, but the type of salary Tampa Bay often tries to turn into prospects.

Can he still play first base on a regular basis, though? He had 230 appearances there between 2023 and 2024, but was Tampa Bay's primary designated hitter in 2025. And with Giancarlo Stanton signed for at least two more years, the Yankees don't have much use for one of those.

RHP Robert Stephenson, Los Angeles Angels

He missed the entire 2024 campaign and the vast majority of 2025 due to Tommy John surgery and a subsequent biceps injury, but there's one season left on Robert Stephenson's three-year, $33 million deal that has thus far been a disaster for the Angels.

Stephenson was only particularly valuable during his four-month run with the Rays in 2023, but maybe a return to the AL East could revive this set-up man's career.

Projected 2026 Opening Day Roster

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Starting Lineup

LF Steven Kwan
RF Aaron Judge
CF Cody Bellinger
DH Giancarlo Stanton
2B Jazz Chisholm Jr.
1B Josh Naylor
C Austin Wells
SS Anthony Volpe
3B Ryan McMahon

Bench
UTIL José Caballero
C/1B Ben Rice
IF Oswaldo Cabrera
OF Jasson Domínguez

Rotation
LHP Max Fried
LHP Carlos Rodón
RHP Luis Gil
RHP Cam Schlittler
RHP Will Warren

RHP Gerrit Cole ought to return from Tommy John surgery in May, at which point he either replaces Schlittler or Warren or the Yankees embrace a six-man rotation

Bullpen

RHP David Bednar
RHP Camilo Doval
RHP Seranthony Domínguez
LHP Tim Hill
RHP Fernando Cruz
RHP Mark Leiter Jr.
LHP Brent Headrick
RHP Robert Stephenson

Will they be able to re-sign Bellinger? Will they stand by Volpe at short? Does Spencer Jones break camp with the big league club? What offseason splash awaits at first base? And just how many moves will they make to spruce up the bullpen?

Though the entire starting rotation and most of the bats for 2026 seem to be pretty well set in stone, it should be an eventful offseason for the Bronx Bombers.