The current economic crisis has most Americans pinching pennies as concerns for the future grow. So how is it that some people can't wait to spend hundreds of millions of dollars? It helps to have a brand new baseball stadium, complete with 56 luxury boxes, in the biggest sports market in America. It also can't hurt to have five employees whose expiring contracts total $86 million. Such is the life of Hal and Hank Steinbrenner, the sons of the Yankees principal owner, George.
While most sports franchises are struggling to renew sponsors, the Yankees recently turned down close to $30 million annually for the rights to name the new Yankee Stadium, evidence of the organization's seemingly unlimited budget. Copious amounts of money may not be anything new in the Bronx, but it's been a while since the Bombers have flashed their financial might in free agency. Although they've spent plenty of money to retain their own free agents, the Yanks have mostly opted to avoid bidding wars over top free agents in recent years. Last season the only player the Yankees added was middle reliever LaTroy Hawkins, who signed for just under $4 million and was gone from the roster by the end of the year.
All that will change this off-season. With the Yanks' World Championship-less streak at (gasp) eight seasons and counting, general manager Brian Cashman will not be shy to overpay for this crop of free agents. Expect Cashman to get exactly what he wants, because for all the players' talk about giving hometown discounts, having amazing teammates, their geographical preferences, and comfort in a situation, where they end up still comes down to "CREAM" (cash rules everything around me).
Sports blogs and chat forums have spent weeks giving reasons why the top free agents might settle for less than top dollar. They wrote that starting pitcher C(ha)-C(hing) Sabathia enjoyed hitting in the National League way too much to ever go back to the American League. Starting pitcher A.J. Burnett was rumored to be interested in Toronto's reported $30 million extension so that he could stay in Toronto. Ben Sheets' muscle tear near his pitching elbow meant that the Brewers might get a chance to re-sign him for below market value. Scott Boras' client, Manny Ramirez, is happy in Los Angeles. Mark Teixeira, another Boras client, has been saying how he loved his time with the Angels, which will give him "something to think about" this winter.
Don't believe it. Because when the dust settles, all these players will end up where the money is best, which means you can expect the New York Yankees to sign just about whoever they want.
Tom Trudeau '09 heard that Sabathia is interested in the Yankees' slimming pinstripes.
