The Yankees’ catcher picture may not be as settled as it first looked, and that’s where the offseason gets interesting.
Early rumors had Austin Wells staying in place as New York’s primary catcher in 2027, but the case for that setup is hardly airtight. Wells said multiple blows to the head from foul tips and hitters’ backswings led to the cervical headaches that sidelined him and wrecked much of his first-half performance. He was better after the break, finishing with a .229/.351/.436 line in the second half, and the splits tell the same story: a 97 wRC+ against right-handers with the platoon advantage, compared with just 19 wRC+ without it.
Even with that rebound, Wells’ bigger issue is that his whole career has been uneven. He arrived with a reputation as a bat-first prospect and defense as the area that needed work. Since debuting in 2023, though, it’s been his defense - especially pitch framing - that has propped up most of his value.
His 2026 regular season summed up the frustration:
122 games
.186 AVG
14 HR
32 RBI
.624 OPS
The conventional fix is simple enough: add a veteran right-handed catcher who can beat out Ali Sanchez and share the load. Chris Kirschner of The Athletic went that route in his offseason plan for the Yankees, naming Carson Kelly as a possible platoon partner if the Cubs turn down his $7.5 million mutual option.
Kelly has crushed lefties before, so the fit makes sense on paper. But if Wells goes down again or simply doesn’t perform, Kelly probably doesn’t look like the kind of addition that changes the whole conversation.
That’s where Jim Bowden’s free-agent projections get the Yankees’ attention. In his ranking of the top 40 available players, Bowden put Ryan Jeffers at two years and $15.5 million, with Tyler Stephenson essentially in the same range at two years and $16 million. That is a softer market than many would expect for the two catchers at the top of the class.
Jeffers, who was once viewed as the Yankees’ preferred trade target before the Twins took him off the market, is coming off a strong .256/.353/.461 season. Minnesota is widely expected to extend him the qualifying offer, and if that happens, it would not be a surprise if his market settles into that price range. Even then, New York would have to weigh whether it wants to give up a draft pick to bring him in.
Stephenson may offer the cleaner path. The Reds have plenty of holes and may not want to risk extending the qualifying offer and taking on the $23.15 million cost.
He hit .241/.323/.404 in 2026, but that line doesn’t really capture the full profile. Before the season, Stephenson owned a career .261/.338/.426 mark, compared with Jeffers’ .239/.321/.419 career line.
He also came on after a rough start, and the underlying numbers were strong: hard-hit rate in the 71st percentile, exit velocity in the 80th, and barrel rate in the 82nd. Behind the plate, he ranked in the 97th percentile as a pitch blocker and was the second-most aggressive ABS challenger among catchers, winning 68% of the 136 times he questioned the umpire.
At roughly $8 million per year, Stephenson would not cost much more than Kelly and would bring a far higher ceiling. He could push Wells into the backup role and upgrade the roster at the same time. Bowden’s projections can be a little wild, but if the numbers hold anywhere near that range, Stephenson should be on the Yankees’ radar.
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