What Comes Next for the Yankees After World Series Loss?

A general view of the inside of the stadium is seen before the New York Yankees take on the Los Angeles Dodgers during Game Three of the 2024 World Series at Yankee Stadium in the Bronx borough of New York City on October 28, 2024. Maddie Meyer/Getty Images

The dull thud you heard in the Bronx on Wednesday night was the New York Yankees becoming the first team in the history of the World Series to cough up a 5-run lead in a clinching game.

It wasn’t their much-maligned bullpen that failed. It was their defense and fundamental execution, perhaps, with the two most significant names on the roster at the forefront of the collapse. Aaron Judge dropped a lazy line drive that was hit right at him in centerfield, and Gerrit Cole simply failed to cover first base on a ground ball to Anthony Rizzo.

Those plays were part of a 5-run fifth inning that brought the Dodgers all the way back in a game the Yankees had been dominating.

The Yankees still took the lead again, but the Dodgers executed timely base running and scored two runs—including the championship-clinching game winner—on sacrifice flies in the eighth inning.

The Dodgers talked about hosting a parade on the field in Yankee Stadium and raised the trophy.

The Yankees now enter what could be a turbulent offseason with some potentially franchise-altering decisions looming.

This is going to be an expensive winter for the Steinbrenner family, owners of the Yankees. As it stands today, the first day of the offseason, the Yankees have $185.1 million of guaranteed money committed to only six players:

• Judge—$40 million
• Cole—$36 million
• Giancarlo Stanton—$32 million
• Carlos Rodón—$27.83 million
• Marcus Stroman—$18.5 million
• DJ LeMahieu—$15 million

What makes these numbers even more frustrating for Yankees fans is two of the six players still on a guaranteed contract into the 2025 season, Stroman and LeMahieu, didn’t appear in the World Series.

And that doesn’t include Anthony Rizzo’s $17 million club option. It’s still a question if the Yankees will pick that up on the 34-year-old first baseman who has struggled to stay on the field since arriving via trade from the Cubs.

This isn’t to imply that the cupboard is completely empty for the Yankees. Two starters from their World Series roster, shortstop Anthony Volpe and catcher Austin Wells, are still one year away from being arbitration-eligible. In their respective cases, it’s about negotiating their next deals. Whether or not the Yankees want to commit to either of them long-term at this time will be interesting, but neither figures to make a huge payday in 2025.

The Yankees also have a long list of arbitration-eligible players, some of whom could be expensive propositions. The most notable on that list is Jazz Chisholm, Jr. who batted cleanup in the World Series and provides a left-handed bat in a lineup that needs those. He played out of position at third base after arriving in New York, but could replace free agent Gleyber Torres at second base in the future; that’s a better, more natural defensive fit for Chisholm.

Among their pitchers, there are some pending arbitration cases that could be important. Nestor Cortes, Mark Leiter Jr., Clarke Schmidt, and Scott Effross could all have a role for the Yankees in 2025. But that’s a lot of work to do early in the offseason.

Trent Grisham, Jose Trevino, and Jon Berti are eligible for arbitration this winter. The Yankees can and likely will replace the other three internally.

Alex Verdugo #24, Juan Soto #22, Aaron Judge #99 and Jazz Chisholm Jr. #13 of the New York Yankees walk off the field after the end of the third inning during Game Four of the 2024 World Series against the Los Angeles Dodgers at Yankee Stadium in the Bronx borough of New York City on October 29, 2024. Sarah Stier/Getty Images

One big internal question the Yankees will need to answer this winter is what the path forward is for 21-year-old outfielder Jasson Domínguez, their top prospect. He’s a centerfielder by trade and struggled at times playing a corner outfield spot. Moving Judge back to right field permanently would likely benefit all parties, but that brings us to the biggest question of the winter.

Can/Will the Yankees Retain Juan Soto?

Soto is a superstar who is hitting free agency at only 25, something that’s incredibly uncommon in this day of baseball. He wasn’t willing to say the Yankees have any advantage in free agency after the defeat on Wednesday night, and if we know anything about his agent—Scott Boras—it’s that Soto will test the market and likely break it.

How the Yankees pursue Soto will undoubtedly be a legacy-defining moment for owner Hal Steinbrenner, whose father’s legacy was one of spending whatever it took to win. The financial limits and landscape have changed; there wasn’t a luxury tax system when George Steinbrenner spent more on the left side of his infield than the Tampa Bay Rays spent on their entire major league roster.

There will be free agents who will certainly tempt the Yankees to help improve their club from the runner-up finish in the 2024 campaign. If they move on from Rizzo at first base, they might be tempted to court the son of a former Yankee to replace him. Cody Bellinger may opt out of his contract with the Cubs and has been an excellent defensive first baseman at times; he’s also a valuable left-handed bat.

If we take anything away from the way the season played out from start to finish for the Yankees, it’s that they need to be better defensively and in the bullpen. The good news is they have plenty of potentially available roster spots to fill. The tough part is actually filling them with the right players.

The heartbreak is still fresh in New York. But the work of building next year’s team is already beginning.