Dec 21, 2022; Bronx, New York, USA; Aaron Judge poses with Hal Steinbrenner during a press conference after being named captain at Yankee Stadium. Mandatory Credit: Jessica Alcheh-Imagn Images Jessica Alcheh-Imagn Images

Yankees Owner Gets Real About 2026 Payroll

Originally posted on New York Yankees on SI
By Erin Shapland | Last updated Nov 25, 2025 7:00 AM ET

The New York Yankees' budget for 2026 remains a mystery as they chase big offseason names, and in a recent presser from Yankees' owner Hal Steinbrenner, the organization would love to spend less money, but it's unlikely they will.

"Hal Steinbrenner: 'Would it be ideal if I went down [with the payroll]? Of course. But does that mean that's going to happen? Of course not. We want to field a team we know we believe could win a championship,'" The New York Post's Greg Joyce wrote on Twitter.

"Steinbrenner said the Yankees finished this year at $319 million."

The second-generation Yankees owner also shared that the team's finances will not be affected by their uncertain labor future, and that he supports a salary cap contingent on a salary floor. According to The New York Daily News' Gary Phillips, this echoes previous statements from Steinbrenner.

Steinbrenner on Profitability

Steinbrenner also spoke on the mindset that the Yankees' organization should be profitable, describing the expectation as unfair given their expenses.

"I don't want to get into it, but that's not a fair statement or an accurate statement," Steinbrenner said, via MLB's Bryan Hoch. "Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million dollar expense to the City of New York that we have to pay every February 1, including the Covid year. So it all starts to add up in a hurry."

Jessica Alcheh-Imagn Images

When free agent outfielder (now Yankee once again) Trent Grisham accepted his $22 million qualifying offer, fans and commentators were concerned about whether the team's budget could accommodate their purportedly large offseason appetites. The Yankees are shopping for a big name outfield bat and pitching depth, in addition to a few other wants that would balance their lefty-heavy lineup. According to general manager Brian Cashman at the recent general manager meetings, the organization had not yet given him an exact number, but emphasized that the QO would not affect their pursuit, at least, of free agent Cody Bellinger.

“I think we’re in a good spot,” Cashman said on the budget h/t Joyce. “The job right now is to find out what’s available, and those all have different price points... I think it could go both ways. It just depends on how things shake out and what opportunities present themselves.”

The organization is expected to talk about a payroll range ahead of the Winter Meetings.

The Yankees' organization is well known for having deep pockets, and they are expected to be aggressive this offseason after another season ultimately ended in defeat. The price they're willing to pay for a possible championship win will be revealed soon enough.

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