The New York Yankees’ pursuit of free agent pitcher Jordan Montgomery failed to materialize into a deal, despite reported interest from team owner Hal Steinbrenner and ongoing discussions between Yankees general manager Brian Cashman and Montgomery’s agent, Scott Boras.
https://t.co/S5Nu0Y3oye. Why Yankees/Monty talks never got traction: (The Yankees’) idea was for $72M over four years with $40M of that — $10M per year —deferred for 10-17 years paid as $5M payments in 2034-41. (In here: the rotation hoping to keep Yanks in it until Cole’s back)
— Jon Heyman (@JonHeyman) March 28, 2024
Montgomery, the last remaining available pitcher on the market, garnered significant attention from the Yankees, who sought to bolster their pitching rotation ahead of their season opener against the Houston Astros.
However, negotiations between the two parties failed to gain traction, ultimately leading to Montgomery signing a deal with the Arizona Diamondbacks.
The issue at hand, reminiscent of the situation with pitcher Blake Snell, who ultimately joined the San Francisco Giants, was the imposition of the so-called “Steve Cohen tax.”
This tax, set at 110 percent for teams exceeding the $297 million threshold, served as a significant disincentive for the Yankees and other teams considering high-value acquisitions.
While the Yankees reportedly had contemplated a four-year offer for Montgomery, there is no evidence to suggest that any formal offers were extended.
Instead, Montgomery inked a one-year deal with the Diamondbacks worth $25 million, with the potential to escalate to a two-year agreement valued between $45 million and $50 million with performance incentives and an opt-out clause.
The Yankees, facing a roster depleted by injuries to key players like ace Gerrit Cole and veteran third baseman DJ LeMahieu, are set to embark on the season with a makeshift rotation.
Despite their lofty aspirations of clinching a championship, the team finds itself grappling with uncertainties surrounding its pitching staff.
Nevertheless, there is optimism within the organization regarding Cole’s progress, with reports indicating that the ace pitcher is “feeling great” and could potentially return to action by June 1.
Until then, the Yankees will rely on a combination of Nestor Cortes, Carlos Rodon, and promising young talents like Luis Gil to anchor their rotation.
While the Yankees’ efforts to secure Montgomery’s services ultimately fell short, they demonstrated a willingness to explore creative solutions to address their pitching needs.
However, the complexities of the salary cap and competitive landscape in baseball rendered their pursuit unsuccessful, highlighting the challenges teams face in navigating the modern baseball market.
