Jon Morosi of MLB Network reported that the Yankees were among the most aggressive teams at the GM Meetings in the reliever market, which makes sense given their free agent class. Clay Holmes, Tim Hill, and Tommy Kahnle provided over 25% of the Yankees’ bullpen innings last season and will all hit free agency this winter, and Brian Cashman will have to work dilligently to replace their value and run prevention. One of the names whom they’ve shown interest in is Carlos Estevez, who was the closer for the Philadelphia Phillies and Los Angeles Angels last season.
Across 55 innings of work, Estevez posted a 2.45 ERA with a 23.6% strikeout rate, and as a result of being traded, was not eligible to receive the Qualifying Offer. The Yankees are in on my relievers, but the 31-year-old right-hander is expected to command a strong market as one of the top closers available in free agency.
Carlos Estevez Drawing Interest From the Yankees in Free Agency
Last season the Yankees made a late change at the closer position, swapping out Clay Holmes for Luke Weaver and seeing their bullpen take off from there. Holmes thrived in the set-up man role in the postseason and got some big outs for the Yankees, and while Weaver was stellar in his closer role, it took him away from being a multi-inning weapon that Aaron Boone could deploy at any point of a game.
It could be beneficial for the bullpen to have a designated closer who isn’t Luke Weaver to ensure that they can use him in situations outside of the ninth inning, especially when a game’s biggest moment isn’t always the ninth inning. Estevez has extended experience as a closer, and last season he finished with 26 saves in 31 opportunities. The right-hander boasts a blistering four-seam fastball with good vertical life that can reach 100 MPH, as batters hit .198 against it.
His slider and changeup are excellent secondary pitches with good vertical drop, and the Yankees could easily move him into their ninth-inning role. The question with Carlos Estevez is whether Brian Cashman would make an expensive bid for a reliever given the team’s track record with maximizing reliever value.
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Take Luke Weaver for example, the right-hander has blossomed into this team’s best reliever and is arguably better than Carlos Estevez himself, and yet he signed for just $5 million over two years last winter. Clay Holmes, Tim Hill, and Jake Cousins were all cast-offs who shored up on the Yankees’ roster and became high-leverage weapons for a playoff-caliber team, and Matt Blake has shown that he’s capable of turning water into wine on the bullpen front.
While Carlos Estevez’s powerful fastball and strong 2024 season would be an upgrade for the Yankees, he’s projected to get a three-year $42 million deal by Spotrac. The Yankees might be better off spending that money on multiple relievers or an infielder, especially with the team’s pursuit of Juan Soto looming over them. With that being said, if Hal Steinbrenner is going to be financially aggressive this winter, it could result in the Yankees landing a high-level reliever to pair with other key pieces.