The possibility of the New York Yankees making a significant move to bolster their pitching staff this offseason shouldn’t be entirely ruled out, but it’s certainly a challenging task. According to MLB insider Buster Olney of ESPN, the Yankees have had a standing offer for Blake Snell, a multi-time Cy Young winner and the reigning champion of the award. However, the deal is far from reaching Snell’s desired terms.

Snell’s asking price might decrease as he remains unsigned, particularly as we enter the initial week of spring training. The Yankees are reportedly monitoring this situation, hoping for a drop in his demands. However, any contract they sign with Snell would incur a hefty 110 percent tax, effectively doubling the cost, as noted by Olney. Despite Snell being seen as a potential fit for the Yankees on a short-term, lucrative deal by Olney, the tax implications make it unlikely for him to join the team.

Earlier in the offseason, reports indicated that the Yankees offered Snell a long-term deal worth $150 million, but it’s believed that Snell is aiming for a contract closer to $270 million.

The Yankees recognize that their championship window may close rapidly, especially considering the uncertainty surrounding the retention of superstar outfielder Juan Soto, who is expected to enter free agency next year. Soto is projected to command a historic contract in the ballpark of $600 million, potentially leading the Yankees to face stiff competition or financial constraints in the future.

Snell would undoubtedly enhance the Yankees’ chances of contending for the World Series in 2024. Pairing him with Gerrit Cole, the reigning AL Cy Young winner, would solidify their starting rotation. However, the significant tax implications present a significant obstacle to such a move.