Yankees opt out of three contracts
The Yankees have started to clean house after losing to the Texas Rangers in the American League Championship Series by declining options on three of their player’s contracts. Lance Berkman, Nick Johnson, and Kerry Wood will all face free agency this off
season.
Brian Cashman, New York’s general manager, said that the decision to not exercise these options was ‘pretty obvious’ because of the large numbers involved. By not keeping these three players the Yankees will save $31.5m next year.
Berkman was acquired from the Houston Astros on 31 July, and knew then that the Yankees would not be renewing his contract. Instead he’ll receive a two million dollar buyout.
He hit .255 with the Yankees, had one home run and nine RBIs in 37 regular-season games, mainly as a designated-hitter.
Johnson signed as a free agent before the 2010 season, but because of injury was only able to play in 24 games. He batted .167 with two home runs and eight RBIs. His option was worth $5.5m, and will instead receive a buyout of $250,000.
Both Berkman and Johnson are first basemen/designated-hitters.
Wood was acquired from the Cleveland Indians on 31 July to be a setup man for their closer, Mariano Rivera. The right-hander did a very good job in that role posting a 2-0 record with a 0.69 ERA in 24 games during the season, and holding an ERA of 2.25 in
eight innings during the playoffs. He also set the lowest single-season ERA in franchise history. The minimum innings pitched to be eligible for that record is 25, Wood pitched 26 for the Yankees. However, the Yankees felt that his $11m option was too steep
for a setup man.
The Yankees are not closing the door on all of these players, but they’ll need to accept pay cuts to return to the team. Derek Jeter, Joe Girardi, and Rivera all need to be re-signed by the club, and the money they command will determine how much the Yankees
can spend on other players.
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