State of the Budget: BUSTED!

Since our update last week, the Yankees have settled on contracts for their arbitration eligible players. They also signed the biggest remaining free agent, Masahiro Tanaka. Unfortunately for you budget lovers, (if any of you still exist) this brings the Yankees budget to some deep and dark places.

25-Man Roster

1- C: Brian McCann (5/$85MM) $17.000MM
2- 1B: Mark Teixeira (8/$180MM) $22.500MM
3- 2B: Brian Roberts (1/$2MM) $2.000MM + $2.600MM Bonuses
4- 3B: Kelly Johnson (1/$3MM) $3MM
5- SS: Derek Jeter (1/$12.81MM) $12.810MM + $7.000MM Bonuses
6- LF: Jacoby Ellsbury (8/$169MM) $21.125MM
7- CF: Brett Gardner (Arb 3) $5.600MM
8- RF: Alfonso Soriano (8/$136MM) $17.000MM*
9- DH: Carlos Beltran (3/$45MM) $15.000MM
10- BN: Brendan Ryan (3/$5MM) $1.667MM
11- BN: Eduardo Nunez (Min) $0.511MM
12- BN: Ichiro Suzuki (2/$13MM) $6.500MM
13- BN: Francisco Cervelli (Arb 1) $0.700MM
14- SP1: CC Sabathia (5/$122MM) $24.400MM
15- SP2: Hiroki Kuroda (1/$16MM) $16.00MM + $0.500MM Bonuses
16- SP3: Masahiro Tanaka (7/$155MM) $22.143MM
17- SP4: Ivan Nova (Arb 1) $3.300MM
18- SP5: Michael Pineda (Min) $0.511MM
19- CL: David Robertson (Arb 3) $5.215MM
20- RP: Shawn Kelley (Arb 2) $1.765MM
21- RP: Preston Claiborne (Min) $0.511MM
22- RP: David Phelps (Min) $0.511MM
23- RP: Adam Warren (Min) $0.511MM
24- RP: Matt Thornton (2/$7MM) $3.500MM
25- RP: Cesar Cabral (Min) $0.511MM

Guaranteed: $204.291MM
Bonuses: $10.100MM

40-Man Roster

26- SP: Manny Banuelos (Min) $0.041MM
27- SP: Nik Turley (Min) $0.041MM
28- SP: Vidal Nuno (Min+) $0.082MM
29- SP: Jose Ramirez (Min) $0.041MM
30- SP: Shane Greene (Min) $0.041MM
31- SP Jose Campos (Min) $0.041MM
32- RP: Dellin Betances (Min+) $0.082MM
33- RP: Bryan Mitchell (Min) $0.041MM
34- C: Austin Romine (Min+) $0.082MM
35- C: Gary Sanchez (Min) $0.041MM
36- C: J.R. Murphy (Min) $0.082MM
37- IF: Dean Anna (Min) $0.041MM
38- OF: Ramon Flores (Min) $0.041MM
39- OF: Zoilo Almonte (Min+) $0.082MM
40- OF: Slade Heathcott (Min) $0.041MM

Total: $0.82MM

Other Commitments

Vernon Wells (7/$126MM) $18.000MM**
Alex Rodriguez (10/$275MM) $3.156MM
Cash Considerations: *-$13MM (From Cubs for Soriano), **-$18MM (From Angels for Wells)
Player Benefits: $12MM
Cushion For Non 25-Man Players: $3.5MM

Totals

Guaranteed Budget Owed: $210.767MM
Potential Bonuses: $10.100MM
Budget: $220.867MM

Current Budget Remaining: -$31.867MM

So with all the bonuses included, the Yankees are only $32 million above the $189 million luxury tax. In conclusion, $189 million was a joke all along. They got us pretty good.

I know what you’re asking. On this glorious day, where the Yankees have signed Masahiro Tanaka, where the budget is now laughable, and the free agent market will start to move along, why would I waste so much precious space on this page with math? Well, there’s even more good news, the Yankees guaranteed salary sits at $210 million, and in 2013 it sat at around $230 million on opening day. And I assume the Yankees didn’t just blow past the budget goal to sit around while the rest of the free agent market signed.

The team still needs infield help, bullpen help, and some bench bats as well. Cashman has already mentioned that he wants more offensive pieces, and the team recently inquired on the bullpen market. With $20 million left until they reach their 2013 starting season budget, the Yankees could still do a mess of trouble on the free agent market. Grant Balfour and Stephen Drew still make perfect sense for the club, while Andrew Bailey and Fernando Rodney remain on the sideline. The team could also look at starting pitchers Ubaldo Jimenez and Ervin Santana, who they checked in on recently.

With all the money spent, it’s hard to imagine many more moves, but the Yankees will probably spend at least $20 million more, and it’s possible that they’ll go even further with the overall increase in spending this winter by MLB teams. This offseason is far from over, but today is at least the turning point, we now know the Yankees are still the Yankees.

Mike is the co-Editor-in-Chief of It's About The Money. Outside of blogging baseball, Mike is also a musician, a runner, and a beer lover.

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