While most of the AL East spent the offseason making big trades and free agent signings, the motto in the Bronx seemed to be “Hold the Status Quo.” Last year, the Yankees finished tied with the Blue Jays at 94-68, but ended up in second after losing their season series to Toronto. After Cam Schlittler threw 8 shutout innings with 12 Ks to propel New York past the Red Sox in Game 3 of the Wild Card Series, the Yankees met their season end at the hands of the Blue Jays. In a 3-1 Division Series loss, the Yankees were outscored 34-16 as their season ended two rounds earlier than in 2024.

Despite a disappointing postseason run, the front office in New York decided this team was good enough to run back basically the same squad. The Bronx Bombers led MLB in runs per game, home runs, and team OPS as captain Aaron Judge took home his third AL MVP in the last four seasons. That’s not to say they weren’t still flawed; the Yankees’ lineup had the third most strikeouts in baseball and a bottom-10 bullpen. And yet, the Yankees come into 2026 as the least changed team in the division.

The Yankees’ first priority this offseason was securing their starting outfield alongside Judge. Trent Grisham was one of four players around MLB to accept the Qualifying Offer, returning to New York on the one-year/$22.05M deal. He’ll man CF again in 2026, looking to build on a career year when he had career highs in hits (116), home runs (34) and RBI (74).

Returning alongside Grisham and Judge in the Yankees outfield is former NL MVP Cody Bellinger. After playing a series of short-term deals with the Cubs and Yankees the last three seasons, Bellinger turned in an All-Star level season last season to earn a long-term deal in the Bronx. After posting 89 runs, 160 hits, 29 home runs and 98 RBIs, the Yankees rewarded Bellinger with a five-year/$162.5M deal that will keep him in New York into his mid 30s.

The re-signings didn’t stop there, though. The Yankees also brought back Paul Goldschmidt and Amed Rosario as depth pieces for their bench. The now 38-year-old Goldschmidt returns on a one-year/$4M deal after slashing .274/.328/.403 in 489 ABs last season. Rosario joined the Yankees at the deadline last season, but only played in 16 games due to a shoulder injury. He’ll provide depth in the middle infield and in CF for New York next season.

The Yankees also bring back LHP Ryan Yarbrough and RHP Paul Blackburn on small one-year deals to give them a pair of multi-innings relief options. Their only major outside addition was LHP Ryan Weathers, whom the Yankees traded three Top 30 prospects to the Marlins to acquire. The hard-throwing, injury-prone Weathers will be asked to fill in the rotation to begin the season, with Gerrit Cole, Carlos Rodón and Clarke Schmidt all expected to begin the season on the IL.

Even though the bullpen was a major pain point for the Yankees in 2025, it’s also where they suffered most of their losses this offseason. After a disastrous season in the Bronx, former All-Star closer Devin Williams left in free agency and joined the Mets. Former set-up man Luke Weaver also made the switch from the Bronx to Queens, while relievers Mark Leiter Jr. (Athletics), Ian Hamilton (Braves) and Jonathan Loáisiga (Diamondbacks) also departed in free agency.

Some of the Yankees’ willingness to stand pat in the offseason undoubtedly revolves around the pending return of their ace, Cole. The 2023 AL Cy Young winner will pitch for the Yankees today for the first time since tearing his UCL last Spring Training. Despite returning to the mound in March, it’s likely Cole won’t make a start in a regular-season game for another 2-3 months.

If he comes back fully healthy, he could give the Yankees the best rotation in the American League. With Cole, former All-Stars in Max Fried and Rodón, an emerging young talent in Schlittler and depth with Schmidt, Weathers, Will Warren and Luis Gil, New York could have a rotation that more than mitigates their bullpen concerns.

However, at 35 years old and with a history of previous elbow injuries, there’s no guarantee that Cole comes back at full strength. As the only major “addition” compared to last year’s squad, a lot is riding on Cole being a major contributor if the Yankees want to unseat Toronto and fend off improved squads in Baltimore and Boston.

PECOTA: 88-74 (2nd in AL East)FanGraphs: 87-75 (1st in AL East)

Despite their lack of aggression in the offseason, most projections still have the Yankees at or near the top of the AL East. PECOTA projects them to finish second behind the Blue Jays again, but with only half a game difference between them and New York. FanGraphs has the Yankees finishing two games in front of Toronto and capturing their third AL East title in the last five years. All major sportsbooks also have the Yankees as the betting favorites to win the division at around +180 odds.

The projections echo the consensus sentiment about the Yankees: despite making no major moves, they should still be one of the best teams in baseball. However, given the amount of improvement that’s gone on in Baltimore, Boston and Toronto, New York may ultimately come to regret the reluctance to make big changes.