With the Winter Meetings fast approaching completion, and the “Hot Stove” officially alight (evidenced by the return of the YES Network’s show), it’s time to forecast some key moves the Yankees might make during the 3.5-day event. The team has several critical needs to address, including bolstering the bullpen, securing a first baseman, and potentially chasing Japanese starting pitcher Tatsuya Imai.
Top Targets and Contract Projections
Bullpen: Edwin Diaz
The Mets’ unexpected signing of Devin Williams, who had been a possible 2026 reunion candidate for the Yankees, has left a void in the late-inning relief corps. This move sparked fan frustration, particularly given the Yankees’ recent decision to relax the long-standing unwritten rule against facial hair below the lip, a change seemingly made to accommodate Williams.
To fill this hole, I project the Yankees will offer Edwin Diaz a deal in the neighborhood of five years and $125 million, an AAV of $25 million. However, given Diaz will be 32 by next Opening Day, they might negotiate down to a three-year term at the same AAV. Diaz, who previously signed a 5-year, $102 million contract (including a $12M signing bonus) with the Mets but opted out (voiding a 3-year, $28 million remainder), remains one of the best available options. His elite performance in 2025 included a 1.63 ERA, and in his final seven appearances, he allowed just one hit over seven innings, striking out 13 batters and recording a 0.11 WHIP.
First Base: Pete Alonso
Assuming the Yankees do not pursue a reunion with Paul Goldschmidt, I anticipate them successfully prying Pete Alonso away from the Mets. Alonso is the top first base talent on the market, despite heavy rumors linking him to the Red Sox (alongside other power hitters like Kyle Schwarber and Alex Bregman). The Yankees are likely to win out with a superior salary offer.
Like Diaz, Alonso opted out of his contract, voiding a potential $24 million salary. I expect him to sign a 3-to-5 year contract with an AAV around $30 million. It’s worth noting Alonso has played all 162 games in both the 2024 and 2025 seasons.
Outfield: Cody Bellinger
I also foresee a reunion with Cody Bellinger. This move, however, would necessitate moving either Jasson Dominguez or Spencer Jones, or possibly both. Bellinger is considered a better fit than Kyle Tucker, largely due to his pre-existing rapport within the clubhouse. While both sides have publicly expressed interest in a reunification, specific details have been scarce.
A significant note for both Bellinger and Alonso is that they are represented by Boras Corp. Scott Boras is known to favor the high-profile setting of the GM and Winter Meetings to finalize major deals.
Securing these three key players will strengthen the roster ahead of the new year, allowing the team to concentrate on addressing secondary needs.
Other Potential Moves
Bullpen Depth
The Yankees may look to acquire the services of relievers Jalen Beeks and Pete Fairbanks, both of whom are familiar to the organization from their time with the divisional rival Tampa Bay Rays. Fairbanks, who pitched for the Rays, is arguably a better candidate for the Yankees, as his taller frame aligns with the team’s preference for height on the mound.
In 2025, Fairbanks recorded a 2.83 ERA over 60.1 innings. His pitch mix is strong, featuring a fastball that sits in the mid-to-upper 90s, an upper-80s cutter, a low-90s changeup, and an upper-80s slider. Beeks, who pitched for Arizona in 2025, posted a 3.77 ERA across 57.1 innings.
Infield Depth
The Yankees may pursue Luis Arráez, a utility infielder capable of playing first, second, and third base. While he’s coming off a career-low offensive season (.292 BA, .719 OPS), signing him would secure a player in the prime of his career. Despite a potential surplus of lefty bats, his acquisition would make sense to lock down long-term talent, especially given the organization’s lack of minor league depth at the position. A likely contract estimate is seven years, $175 million ($25M AAV).
The Yankees have also expressed interest in bringing back Amed Rosario for 2026. However, with Ryan McMahon under contract through 2027, the role for Rosario remains unclear. Given he earned only $2 million in 2025, any potential return would likely be on a similar, low-AAV deal.
Starting Pitching
With both Gerrit Cole and Carlos Rodón starting the season on the injured list, rumors regarding Sandy Alcántara are abundant. However, with Alcántara and Tatsuya Imai both available, I suspect the Yankees will prioritize Imai, given their expressed interest in the Japanese pitcher and the organization’s positive history with Japanese players in the Bronx.
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