The Yankees’ dream of landing Adrian Morejon may have gotten a lot more expensive in a hurry.
For New York, the appeal is obvious. Morejon is the kind of arm that jumps off the page: a left-hander who can hit 100 mph with his sinker, and one of the few bullpen targets who feels like a real difference-maker.
The Yankees also have plenty of relief work to do. David Bednar, Paul Blackburn, and Tim Hill are free agents, while Fernando Cruz is out with a torn UCL.
In other words, there are openings everywhere.
At one point, there was at least a little comfort in the fact that Morejon wanted to stay in the bullpen. That took some pressure off the Yankees’ pursuit after there had been rumblings that teams wanted to stretch him into a starter, which would have pushed his price even higher. But that cushion didn’t last long.
The Atlanta Braves changed the market with their first major bullpen move, handing Evan Phillips a three-year, $35 million deal. For a pitcher with a long injury history and limited closing experience, it was a massive commitment.
Phillips has only 31 games and 26 innings under his belt while working back from Tommy John surgery, and his 2025 season was almost wiped out by the UCL injury, with just 5 2/3 innings before he returned. When he did get back this year, the start was rough - four homers and five earned runs in his first seven outings - before he steadied himself and posted a 2.33 ERA over 19 1/3 innings from July 27 onward.
The risk doesn’t stop there. Phillips has also dealt with elbow issues during the Dodgers’ 2024 playoff run, plus rotator cuff and forearm injuries in 2025. Still, Atlanta paid him like a premium late-inning piece, and that’s the part that matters for the rest of the market.
If Phillips can pull in nearly $12 million per year, what does that mean for Morejon? The 27-year-old was one of the workhorses in the bullpen this season, throwing 86 innings across 76 games, which ranked third among relievers in innings and fourth in appearances. He was just as busy in 2025, appearing in 75 games and logging 73 2/3 innings.
Before Phillips signed, MLB Trade Rumors projected Morejon for five years and $80 million. That number may have looked a little rich at the time, but Atlanta’s spending spree has made it feel a lot more believable.
If that deal materialized, it would match Kenley Jansen’s 2016 contract with the Dodgers as the fourth-largest reliever deal ever. Only Aroldis Chapman’s five-year, $86 million deal with the Yankees, Josh Hader’s five-year, $95 million contract with the Astros, and Edwin Diaz’s five-year, $102 million agreement with the Mets would top it.
And unlike those pitchers, Morejon has never been a closer; he has just eight career saves.
The Yankees are still looking at other bullpen pieces, too. Bednar remains in play, though his ninth-inning background will make him expensive, and Blackburn is also a possible reunion, though he should cost far more than the $2 million he made in 2026. New York also needs another lefty, since Brent Headrick is the only other southpaw currently in the mix, and neither he nor Morejon fits the true specialist role Tim Hill has filled.
If the market keeps climbing after the Phillips contract, the Yankees may have to rethink how they want to spend. Landing Morejon could solve one problem, but it might also leave too many other relief holes untouched. And that’s how a bullpen gets top-heavy fast.
In Other News...
Yankees Fans Just Got An Unwanted Reminder About Verdugo
The Red Sox are once again doing business in the outfield market, and the buzz at the GM Meetings has already stirred up an uncomfortable memory for Yankees fans. Boston is reportedly shopping Jarren Duran, a talented left-handed hitter whose rise has drawn obvious comparisons to Alex Verdugo, the player the Red Sox sent to New York in 2023.
For Yankees followers, the parallel is hard to ignore because Verdugo arrived with real promise and never delivered the kind of impact the club expected. Duran and Verdugo shared a similar profile as productive left-handed outfielders who looked like long-term answers early on, which is exactly why this latest Red Sox rumor has reopened an old wound in the Bronx. [Read more 🡒]
Red Sox Just Made A Former Yankee Their Winter Priority
The Red Sox have made an early splash in the winter by signing Jake Bauers to a four-year, $58 million contract, a move that immediately changes the tone of their offseason. Bauers, who spent time with the Yankees before his career-best season in Milwaukee, now heads to Boston on the largest deal the club has handed out so far this winter.
For the Yankees, it is another reminder that a familiar name can quickly become a division rivals priority once the market opens up. Bostons willingness to commit that kind of money says plenty about how it views Bauers after his breakthrough with the Brewers, and it adds another layer to a rivalry that rarely needs much help staying interesting. [Read more 🡒]
Yankees Face A Bullpen Debate Fans Wont Agree On
The Yankees are weighing an offseason bullpen decision that is already shaping up to be a familiar kind of debate in the Bronx. Tim Hill is drawing interest again after a season that was far less steady than the one that made him a useful late-inning option, and New York is among several clubs looking into a possible reunion. The Guardians, Mets, Giants and Dodgers are also in the mix, which only adds to the sense that Hills market will be broader than a simple return to the Yankees.
For the Yankees, the question is whether familiarity is enough to outweigh the warning signs from Hills 2026 season. His ERA climbed, his strikeout rate dipped, and he was left off the postseason roster, all of which makes a re-signing harder to sell as a clear upgrade. With Hill no longer looking like the same dependable piece, the front office may be better served exploring other bullpen arms rather than betting on a bounce-back from a reliever whose recent track record has become harder to trust. [Read more 🡒]