After trading for Juan Soto, the New York Yankees were widely anticipated to be one of MLB’s greatest offensive forces this season. That has not materialized quite as expected, though, as the team has been middling amid the big leagues in batting average and slugging percentage, with several marquee players struggling to match career numbers at the plate.
One such player is first baseman Anthony Rizzo, who signed a two-year, $40 million deal with the team in 2022 and has slashed just .263/.329/.429 in 133 at bats so far this season — down from a 14-year career line of .263/.363/.473.
As a result, The Athletic’s MLB insider Ken Rosenthal has suggested the team might opt into the upcoming free-agency sweepstakes for Pete Alonso as an upgrade over Rizzo.
“Anything is possible in the unpredictable world of free agency,” Rosenthal wrote. “Soto could end up a (New York) Met and Alonso could wind up replacing Anthony Rizzo with the New York Yankees.”
The New York Yankees Might Have Payroll Room to Sign Pete Alonso
The Yankees have a third-year, $17 million club option on Rizzo’s contract, making a potential blockbuster replacement at first base an intriguing possibility for 2025. Alonso is making $20.5 million this season to avoid arbitration, suggesting the annual average value of his next contract could be in a similar range to Rizzo’s option for next season.
Of course, adding Alonso would require a much larger long-term commitment than opting into Rizzo’s final year or finding a more budget-friendly option on the free-agent market. Alonso’s next deal is likely to run at least eight years and go well into the nine-figure range.
“In spring 2022, I estimated an extension for Alonso at eight years and $160 million, with a mutual option or opt-out after six years and $108 million,” Tim Britton wrote for The Athletic. “In spring 2023, I estimated an extension at nine years and $207 million. The cost goes up the longer you wait.”
It seems clear there is more upside on Alonso, who is five years younger than Rizzo and has much stronger career slugging figures. But he’s off to a worse start for 2024 and that could hurt the deal he ultimately gets.
Alonso is slashing .205/.293/.417 in 132 at bats so far this season, though his six-year career line is .249/.339/.522.
The New York Yankees Could Face a Bidding War With the New York Mets for Pete Alonso
If the Yankees are confident that Alonso can be productive following this season and seek an upgrade over Rizzo, they could face some bidding competition from their crosstown rival.
“All signs point to Alonso becoming a free agent after the season and testing the waters, and I’m sure the Mets will stay involved in the bidding,” Mike Axisa wrote for CBS Sports. “How seriously? That remains to be seen. Alonso’s performance (and the team’s performance) between now and then will certainly play a role in all this.”
The Yankees could have as much as $100 million come off the books between this season and next and might allocate it in any number of ways. Re-signing Soto seems to be the highest priority, but if that isn’t in the cards, it seems like the Yankees will be looking to replace his bat with some other prolific members of the free-agent class.
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