Cashman expecting payroll increase: 'I have some latitude'

Baseball's wealthiest team might be ready to open its wallet in a big way.

New York Yankees general manager Brian Cashman is expecting to have an increased budget to work with this offseason. Though he didn't give a specific number, Cashman hinted that it may not be just a small increase.

"(I've) had conversations (with ownership) about, 'Do I have a set budget? No. But do I have, I feel, some direction? Yes.' And clearly, it was mission accomplished from last year, getting under the (tax threshold)," Cashman told reporters at the GM meetings on Tuesday.

"I have some latitude," he added.

The Yankees' last major free-agent signing was Gerrit Cole to a record $324 million two offseasons ago. New York was much quieter last year, just re-signing infielder DJ LeMahieu while trying to stay under the luxury tax. The club's Opening Day payroll in 2021 ranked second in the majors, according to Cot's Contracts, but was still nearly $2-million below the tax threshold.

Cashman is apparently taking advantage of the newfound wealth, as he said he's already spoken to representation for a pair of free-agent shortstops. He's also spoken to the agent of first baseman Anthony Rizzo.

New York is also reportedly interested in trading for Oakland Athletics first baseman Matt Olson.

The Yankees, whose last World Series appearance and win came in 2009, squeaked into the playoffs with 92 wins last year but were eliminated in the AL wild-card game.