Yankees Expected to Cut Ties With Volatile All-Star Projected for $55 Million Deal

Getty Yankees reliever Clay Holmes (left)

If you’re a Yankees fan who paid any attention to the team in the dead of the summer, as the fast start of April and May was fading into panic about the infield and, perhaps more worrisome, the bullpen, perhaps you should sit down. That’s because we’re about to inform you that the market value on reliever Clay Holmes, the team’s closer for much of the season, is high.

Very high. In fact, at Spotrac, Holmes is in line to cash in during this year’s offseason free agency, at a projected $13.7 million per year. In all, the contract-expert site has Holmes making $55 million over four seasons. That’s the stunning news.

The good news for Yankees fans who watched Holmes get demoted from the closing role after repeatedly blowing saves this year–13 in all, most in MLB–is that Holmes almost certainly won’t be making that money in the Bronx. The Yankees already made their move to keep Luke Weaver for 2025, the guy who replaced Holmes in the closing role, by picking up his $2.5 million contract option.

According to Pete Caldera, Yankees beat writer for the Bergen County, the team won’t be bringing Holmes back in free agency, not as a massively overpriced setup man.

Clay Holmes Was an All-Star Before Midsummer Collapse

Caldera does give Holmes some credit for his performance this year. He was 3-5 with a 3.14 ERA on the season, and earned a spot on the All-Star team before things really unraveled in July and August. Holmes had a 2.25 ERA in 13 appearances in the playoffs.

Wrote Caldera:  “After losing the closer’s role to Luke Weaver, the right-handed Holmes found some of his lost command and became the Yankees’ most trusted setup reliever during the postseason. …

“He might command a multi-year deal as a closer, with a big raise from his $6 million 2024 salary. And that’s not a price point the Yankees are likely to pursue for a setup reliever.”

Yankees Will Push for More Bullpen Help

While the Yankees have a number of holes to fill on the roster, the bullpen figures to get some special attention, especially with the troubles the relief crew had in the postseason. Holmes is likely gone, but don’t expect the Yankees to hand the job to Weaver without adding another top option this winter.

Weaver was 7-3 with a 2.89 ERA this season, and excelled once he took over the closing role for Holmes in September. That was especially surprising because Weaver had never before been a closer, with this first-ever save opportunity coming for the Yankees on September 6, despite having spent nine seasons pitching in the major leagues.

The Yankees had interest in Marlins reliever Tanner Scott at the MLB trade deadline, but failed to pull off a deal for him. It’s possible they could circle back to him in free agency. Phillies star reliever Jeff Hoffman, too, could be an option.