Hal Steinbrenner Evaluates the Yankees’ Financial Future
The owner of the New York Yankees, Hal Steinbrenner, has expressed caution about the team’s budget for the 2026 season. Although he prefers a reduction in the payroll, which reached $319 million in 2025, Steinbrenner emphasizes that the priority is to build a competitive team.The Yankees haven’t won a championship in the last 16 seasons, a streak that extended after being eliminated by the Toronto Blue Jays in the American League Division Series. Steinbrenner defended manager Aaron Boone, attributing the disappointment to the players’ lack of performance in October. He also lamented the team’s mid-season problems, which cost them the American League East Division title and home-field advantage. Furthermore, Steinbrenner pointed out mental errors, especially in base running, as a problem, which led to the firing of first base coach Travis Chapman. The owner also questioned the notion that the Yankees made a profit in 2025, suggesting they suffered losses.“Would it be ideal if I reduced the payroll? Of course. But, does that mean it’s going to happen? Of course not. We want to build a team that we know could win a championship, or that we believe could win a championship”.
Hal Steinbrenner
According to Cot’s Baseball Contracts, the Yankees’ projected payroll is $278.1 million, including a projected tax of $18.7 million for exceeding the $244 million Competitive Balance Tax threshold. Among the offseason transactions, the Yankees offered Trent Grisham a one-year, $22.05 million qualifying offer, signed Ryan Yarbrough for one year and $2.5 million, and did not renew five relievers. Steinbrenner indicated that the Yankees need to add an outfielder and improve the bullpen. With Grisham’s decision, the team is considering options for left field, including the possibility of re-signing Cody Bellinger. The bullpen could lose Devin Williams and Luke Weaver in free agency. Filling these needs would likely increase the Yankees’ payroll. Steinbrenner is open to all possibilities presented to him by general manager Brian Cashman. The Yankees, who have exceeded the Competitive Balance Tax threshold in the last four seasons, finished with the third-highest payroll in MLB in 2025. Steinbrenner mentioned that he considers supporting a salary cap only if it comes with a floor, depending on the figure.“I don’t want to get into that, but that’s not a fair or accurate statement. Everyone wants to talk about revenue. They need to talk about our expenses, including the $100 million we have to pay to the city of New York every February 1st, including the COVID year. It all starts to add up quickly.”
Hal Steinbrenner
