As the New York Yankees enter one of their biggest offseasons in recent memory, principal owner Hal Steinbrenner is ready to open the vault.

While the 55-year-old has spoken about his concerns about sustaining a massive payroll, he isn’t going to let those worries change his mindset in free agency.

“Look, payrolls similar to this year and the luxury taxes they produce are not sustainable, not feasible, and that’s the case for the vast majority of owners, and maybe all of the owners,” Steinbrenner said at the MLB Owners Meeting on Wednesday. “Doesn’t mean in any given year I can’t do what I want to do. I mean, we’ve got the ability to sign any player we want to sign.”

Hal Steinbrenner says the Yankees are in a position to sign whoever they want pic.twitter.com/8X6dXdwcGr

— Talkin’ Yanks (@TalkinYanks) November 20, 2024

Back in May, Steinbrenner said that the Yankees’ payroll – which surpassed $300 million for the first time, not including luxury tax penalties – was not sustainable. However, on Wednesday, he acknowledged that the Bronx Bombers’ starting position is better than it was last offseason; their projected payroll for 2025 is $238 million.

Of course, this doesn’t factor in a contract for outfielder Juan Soto, who the Yankees are looking to sign long-term amidst a bevy of other big-market teams. But Steinbrenner is more than aware of both the competition (most notably Steve Cohen of the New York Mets) and the expectation of the fanbase to sign the 26-year-old star.

“We listen to our fans. Our fans really enjoyed having him in New York. He’s a significant part of why we got to the World Series,” Steinbrenner said. “I’ve got ears. I know what’s expected of me. It’s been a priority, we wouldn’t have gone out to the West Coast if it wasn’t.”

Steinbrenner, along with general manager Brian Cashman, field manager Aaron Boone, team president Randy Levine, and special assistant Omar Minaya met Soto and agent Scott Boras on Monday in Newport Beach, California. The meeting reportedly went well, but the Yankees don’t know if Soto is leaning towards or away from them.

Even if the Bronx Bombers fail to bring back the Dominican phenom, there are a number of fantastic players available in free agency; the Yankees can strengthen the rotation by signing Corbin Burnes, Blake Snell, or Max Fried, solidify third base and weaken an American League rival by inking Alex Bregman, secure first base by bringing in Pete Alonso, or find an outfield replacement in Anthony Santander or Teoscar Hernandez.

Regardless, the most desirable outcome is keeping Soto in pinstripes, and the Yankees should still pursue these other available free agents to improve the team all around. Fortunately, it appears that Steinbrenner has the motivation to spend big.