Only Hal Steinbrenner knows where the Yankees’ 2026 payroll will ultimately land — or at least how high he is willing to let it land — though he has made his feelings known on the sustainability of a $300-plus million payroll (“unsustainable”).
Though Brian Cashman has little to gain from publicizing how much money he actually has to work with this offseason, he insisted Thursday night he has the flexibility to do what he needs to do to improve the roster.
“I think we’re in a good spot,” Cashman said before taking part in the annual Covenant House Sleep Out at Javits Center. “The job right now is to find out what’s available, and those all have different price points.”
Yankees general manager Brian Cashman talks to the media during the Covenant House Sleep Out event at the Jacob Javits Center on Nov. 20, 2025. JASON SZENES/ NY POST
With Trent Grisham accepting the $22.025 million qualifying offer earlier this week, the Yankees’ projected luxury tax payroll for 2026 already is at $281 million, per Cot’s Contracts.
Asked whether it is realistic to stay under $300 million, Cashman hedged.
“I think it could go both ways,” he said. “It just depends on how things shake out and what opportunities present themselves.”
Cashman said he had “not necessarily” been given a budget by Steinbrenner but indicated there could be certain parameters while the owner remained willing to listen on anything.
That will include Cody Bellinger, whose return alone would bring the payroll over $300 million before any other moves are made.
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“I’m good at spending money,” Cashman said with a grin.
Friday at 8 p.m. is the non-tender deadline, and with it comes some interesting calls for the Yankees on a number of their arbitration-eligible relievers, including Mark Leiter Jr., Ian Hamilton, Jake Cousins and Scott Effross.
Yankees general manager Brian Cashman is seen in his sleeping bag during the Covenant House Sleep Out event at the Jacob Javits Center. JASON SZENES/ NY POST
“We know what we intend to do,” Cashman said. “We’re having conversations at the same time with clubs. We may be doing some business before the tender. Whether we cut deals, we may be making trades. And yeah, we’ll have non-tenders as well.”
Cashman had a 9 a.m. call scheduled for Friday with an agent of a non-tender candidate, which will come after he got little to no sleep while participating in the Sleep Out (bundled up in a sleeping bag outside to raise funds and awareness for youth homelessness) for the 14th year.
“I wouldn’t wish this on anybody,” Cashman said. “This is one night, and I get to eventually get off that cinder block and head home and shower and get Starbucks and start my day and get some rest, where these kids on a day-in and day-out basis, week in and week out, month in and month out, they don’t know where they’re laying their head. They’re trying to stay safe, trying to avoid the elements and crime and when their next good meal is coming. I can’t imagine.”