Insider Explains Why It'd Be Difficult For Yankees To Sign Cy Young Winner

Snell's price tag could drop since he is still a free agent, as we are in the first official week of spring training. The Yankees are reportedly waiting for this to happen, but they would have to pay a tax of 110 percent on every dollar on that contract, which would double the cost, per Olney. 

So although Olney believes Snell makes sense for the Yankees on a short-term, lucrative deal, he doesn't think he will land in the Bronx for the tax reason. 

Per reports earlier in the offseason, the Yankees made Snell a long-term offer of $150 million total, but the lefty is believed to be seeking a contract in the neighborhood of $270 million.

All of that said, the Yankees are aware that their window could close fast, as there is no guarantee that they will be able to retain superstar outfielder Juan Soto, who is expected to go to free agency next winter. Soto is projected to land a historic deal worth around $600 million, which means the Yankees could get outbid by another team or would be hamstrung financially for many years to come.

As for Snell, he is an ideal fit for the Yankees, as he would jettison them into the conversation as serious World Series contenders in 2024. Especially if this winds up being Soto's lone year in the Bronx, the Yankees need to finish the job and go all-in to end their 15-year title drought, and they could do so by adding the reigning NL Cy Young winner to pair atop their starting rotation with reigning AL Cy Young winner and ace Gerrit Cole. But it would be difficult due to the 110 percent tax on the contract.