A year ago, the Yankees had one clear free agent target in Cody Bellinger.
But the lefty-hitting, Gold Glove left fielder lingered on the market until Jan. 21, when he agreed to a five-year, $162.5 million contract.
That deal contains an opt out after the 2027 season, the start of which could be affected by a work stoppage.
MLB’s current collective bargaining agreement expires on Dec. 1, and a looming lockout will impact business over the next four weeks.
With free agency now underway, here’s a ranking of five potential Yankees targets:
5. Luis Arraez
Position: Second base, first base
In his recent assessment of the Yankees’ latest early October exit, owner Hal Steinbrenner pointed to an inconsistent offense.
“Some of them just underperformed,’’ said Steinbrenner “They didn’t live up to what they’re capable of.’’
This year’s Rays-Brewers World Series, won by Milwaukee, featured lineups that routinely put the ball in play and pressure an opponent’s defense.
And in this year’s free agent class, lefty-hitting Luis Arraez is a connoisseur of contact, with just 28 strikeouts in 655 plate appearances in 2026, while batting .310 for the Giants and Phillies.
A three-time batting champ, Arraez – who turns 30 in April – came up with Minnesota in 2019, with James Rowson, then the Twins batting coach.
But Rowson’s immediate future as Yanks’ batting coach is cloudy and Arraez’s complete lack of power and shaky defensive reputation (though he improved his metrics as a second baseman this year) are marks against a long-term deal.
4. Paul Blackburn
Position: Relief pitcher

Yes, the bullpen is a volatile area.
Blackburn’s success in 2026 doesn’t guarantee a repeat in 2027 and 2028.
But the right-hander was such a revelation – at a bargain price – that a multi-year contract must be a consideration.
Like the Luke Weaver path, Blackburn transformed from a shaky starter to a trusted and valuable multi-inning reliever in pinstripes.
Blackburn added depth to his sinker, increased his changeup use, and posted a 1.69 ERA in 62 appearances during his free agent walk year.
Given the uncertainty about Fernando Cruz’s partially torn UCL, a reunion with Blackburn should be on the Yanks’ winter list.
3. Adrian Morejon
Position: Relief pitcher

Or the Yankees could make a higher priority of this setup lefty.
Morejon’s durable profile and high-octane arsenal could create a competitive market among contenders seeking both elite multi-inning relievers and closers.
Over the past three seasons in San Diego, Morejon has averaged 70 appearances, and a 2.58 ERA with 10 strikeouts and 0.4 home runs allowed per nine innings.
With the swing-and-miss ability from his sinker/slider/changeup/four-seam fastball mix is an elite groundball rate (58 percent this year).
Given Brent Headrick’s overuse in a breakout season, the Yanks could use another significant lefty bullpen presence.
2. Teruaki Sato
Position: Third base
We've just entered a shortened window for posted Nippon Professional Baseball League players to negotiate with MLB clubs.
As USA Today's Bob Nightengale reported Monday, the players union is unhappy with MLB's decision not to extend the 45-day negotiating period.
That means Japanese stars like Sato and right-handed pitchers Kaima Taira and Hiromi Itoh must sign by Dec. 1, or else forfeit the opportunity to play in the majors in 2027.
Third baseman Ryan McMahon has one year and $16 million remaining on his contract, but he's a trade candidate (along with 1B-2B-DH Luis Garcia Jr., a fellow lefty hitter) and Sato is a possible target.
The lefty-hitting Sato, 27, is coming off a Triple Crown NPBL season in 2026, batting .306 with 39 homers and 106 RBI.
But some scouting reports on Sato's defense suggest he's more suitable as an outfielder or first baseman in the majors, creating an added dilemma for the Yanks.
1. David Bednar
Position: Closer

Unlike fellow Yankees free agent Jazz Chisholm Jr., the Yanks extended Bednar the $23.15 million qualifying offer in hopes of keeping him for 2017 or signing him to a multi-year deal.
Players who receive the QO have a week to decide whether to decline or accept; taking the offer creates a one-year contract for the upcoming season, as Trent Grisham chose last year.
Over his year-and-a-half in pinstripes, Bednar, 32, has proven himself to be durable and largely drama-free, posting a 1.30 ERA over his last 43 appearances in 2026.
Additionally, you could see the Yankees attempting to reunite with free agent relievers John Schreiber and Ryan Yarbrough, who each made both playoff rosters in 2026.
This article originally appeared on NorthJersey.com: Yankees free agent targets for 2027: 5 players for Bombers to pursue