Yankees Urged to ‘Hold Off’ on Projected $104 Million Extension

In 22-year-old Anthony Volpe, the New York Yankees have hope for a long-term, franchise shortstop. 

After drafting Volpe with the 30th pick overall in the 2019 draft, he took on the team’s everyday shortstop role last season on a one-year, $720,000 contract in addition to a $2.7 million signing bonus. He’s set to earn another $720,000 deal, but if he grows into the player that many expect, he’ll soon demand a more significant portion of the Yankees’ payroll. 

He will enter his first year of arbitration in 2026, and The Athletic’s Tim Britton projected he will eventually demand a deal in the range of $104 million over nine years. But Britton also recommended that “both sides should hold off.”

“The Yankees can afford to get a better grasp of how good Volpe can be before going to nine figures with him off a decent rookie season.”

With Anthony Volpe, the New York Yankees Could Have Future Franchise Shortstop

Volpe’s rookie campaign was more than “decent” on the defensive side, but his offense could use some development.

In 2023, Volpe became the first rookie in franchise history to earn a Gold Glove Award, slashing .209/.283/.383 with 21 homers and 24 swiped bags in 541 at bats. If he can bring his performance at the plate up to par with his defense, the Yankees could have a fitting heir to long-time shortstop/captain Derek Jeter. And there’s reason to hope for improvement in 2024.

“Volpe went to the laboratory in the offseason, beginning workouts at the Yankees minor league facility in early January,” Joel Sherman reported for the New York Post. “New hitting coach James Rowson said Volpe is ‘not working as uphill as he was and is working more through the ball.’ Rowson believes that will decrease the holes in his swing, which combined with Volpe’s strong concept of the strike zone should lead to more walks and more opportunities to use his legs.”

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The changes seem to be making an impact thus far in Spring Training. In 38 pre-season at bats, Volpe has a .368 average and a .915 OPS.

“As he approaches his second year as a big league shortstop, Volpe says he is spending his spring focusing on deleting an uppercut from his swing, aiming to do damage on high heat more frequently,” MLB.com reported.

The New York Yankees Lack Option at Shortstop

The Yankees are counting on big things from Volpe, not just well into the future, but to bolster their 2024 aspirations of returning to the World Series.

Volpe projects to bat at the tail end of a potent Yankees order, but their depth at shortstop would be a concern without him. 

Oswald Peraza currently projects to be the go-to substitute for Volpe if needed. But Peraza was shut down with shoulder problems that are expected to persist into the season. The next option could be 25-year-old Oswaldo Cabrera, but that’s far from certain as well.

“Without Peraza, utility man Oswaldo Cabrera could serve as the backup shortstop, but he may be needed to bounce around the entire field — and still has to prove he can hit major league pitching,” Mark W. Sanchez reported for the Post. “He continues to impress defensively, with (manager Aaron) Boone saying he trusts him anywhere, ‘shortstop included,’ but his early spring results have not been encouraging.”

So, there are a number of reasons why Volpe seems to be the Yankees shortstop of the future, provided he can fix his approach at the plate. If that’s the case, the team will almost certainly have to shell out nine figures to retain him.

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