The Yankees’ underlying Juan Soto message is more positive than it seems

If you listen too closely to early rhetoric, you might get the idea the Yankees don’t feel great about their chance to retain superstar slugger Juan Soto. But that can’t really be the case.

Owner Hal Steinbrenner’s remark that their current $301 million payroll isn’t “sustainable” caused some folks to think he isn’t necessarily confident they will keep Soto. But Steinbrenner’s more relevant messages probably were the ones about how much they like Soto, how much they want to keep Soto, and, perhaps most importantly, how much money they have coming off the books.

With Gleyber Torres, Alex Verdugo and Clay Holmes free agents and a club option on Anthony Rizzo, they will have huge flexibility. They are committed to $225M, down from $255M to start last winter, providing plenty of room.

Though free agency is unpredictable and there could be many big-market teams in play for a generational hitter at 25 (I still prefer that to “centurion,” agent Scott Boras’ new word), the Yankees seem to believe their biggest competition may come from the Mets. (That’s what we’ve been speculating, but they presumably have their own guesses.)

The Yankees may also believe the field will be somewhat limited due to the expected record price tag for position-only players — they’re likely ready to repeat Aaron Judge’s $40M annual salary on a longer deal, though word is the ask will be higher due to age and prime years remaining.

The Yankees do hold the in-city advantages of bigger history and better roster — not to mention Soto’s ultra-positive 2024 Bronx experience. (But once again, it’s unlikely to happen in-season; Soto previously turned down seven offers.)

Anyway, it’s probably best not to read too much into public pronouncements. Saying $300M-plus isn’t sustainable doesn’t mean anyone need worry about the Yankees. Unlike the current Mets, Steinbrenner’s team makes money — the books aren’t open but word is they make a small profit. That’s despite having MLB’s third-highest payroll and paying big tax (about $50M), revenue sharing and many other expenses.

If Steinbrenner meant he doesn’t think it’s worthwhile paying such huge salaries when it hasn’t translated to World Series titles lately, he certainly has a case for that claim — though in mega-signings the Yankees are batting 1.000. Both Judge and Gerrit Cole are obviously worth their record pay. And recall that Steinbrenner, who understands the value of the marquee brand, was the one who pushed hardest to keep Judge in the end. So don’t overthink or overplay anyone’s early public comments.