The New York Yankees have proved money is no object this summer as they have spent a marquee amount of money on free agents to beef up their lineup for the 2014 season. The Yankees have totals up a $470 million free agent bill this offseason and looked prepared to blow past the luxury tax threshold for one more big name. However, general manager Brian Cashman is denying the idea.
The New York Daily News reports the Yankees will not continue their pursuit of free agent shortstop Stephen Drew. Cashman is standing firm in his decision to not make any more significant acquisitions for the roster and will instead stick with the depth already in place.
The Yankees are in need of another infielder and CBS Sports originally reported that New York could favor shelling out the money needed to land Drew. Derek Jeter is coming off a non-existent season after several reoccurring injuries. The captain can simply not be counted on to make a big impact in 2014. Brian Roberts is past his prime and Kelly Johnson is average at best. However, Cashman plans on relying on Brendan Ryan and Eduardo Nunez to assist in the rotation.
Drew would have been a huge signing for the Yankees considering he is one of the best gloves available on the free agent market. However, New York cannot afford to spend any more cash after they already passed the luxury tax line. They dedicated $153 million to Brian McCann, Jacoby Ellsbury and Carlos Beltran. After that, they handed a $155 million contract to Japanese pitcher Masahiro Tanaka. Passing the $189 million mark means they will be taxed at a 50 percent rate in the future.
It appears the Yankees are going to stick some pay roll limits on themselves this season, but do not rule out a trade. The team had shown interest in third baseman Chase Headley who was made available from the San Diego Padres. He would come much cheaper than Drew and still be productive in the role. Negotiations have stalled, but are not over.
There is still plenty of interest in Drew even if the Yankees are out of the race. The shortstop put up a .253 batting average and 13 home runs in 124 games last year. The New York Mets are monitoring the market of Drew while the Boston Red Sox are considering bringing him back for another year.