Report: Blake Snell & Scott Boras Turned Down This Massive Offer
The New York Yankees and Blake Snell appear to be doing some kind of dance, but the question is where will the 2023 Cy Young winner be when the music stops? Answer: probably out a ton of money.
According to MLB Insider Jon Heyman, the Yankees and Snell's agent Scott Boras "are continuing to discuss potential scenarios — they talked again Monday."
The problem, as it has been with all of Boras's big clients this winter, is that the price is far too exorbitant for teams to bite on. Now word has emerged that Boras and Snell turned down a $168 million offer from the Yankees.
The New York Yankees offered Blake Snell a 6-year, $168 million deal in January, which Snell and agent Scott Boras rejected.
— Dan Clark (@DanClarkSports) February 27, 2024
It's now February 27, Spring Training games are almost a week in, and Snell remains unsigned... pic.twitter.com/Ksrqu8176K
The deal would have been for six years, giving Snell an AAV of $28 million.
The big problem for the Yankees is the luxury tax. They are at the 110% tax level, which means that, for instance, a $30 million deal for Snell for one year would actually cost the Yankees $63 million. Is the two-time Cy Young winner worth $63M? Considering the four years in between his two Cy wins saw him post an ERA close to 4.00 and walk rates of close to four batters per nine innings, it certainly seems like a huge overpay.
On a long-term deal, like the six-year offer the Yankees made, they could spread some of that money out down the line, easing their tax burden this coming season. But it was a no-go for Boras and Snell, and now we'll have to see if the pitcher can recoup an offer that even comes within $100 million of that now-expired one.
Cody Bellinger, one of Boras's other premium free agents, cost himself plenty of cash by over-valuing their demands, and just settled for a 3-year, $80M deal with the Chicago Cubs, far short of the rumored $200M they came into the winter demanding.
Photo: Orlando Ramirez-USA TODAY Sports
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