In the hours leading up to MLB's annual trade deadline, the Yankees orchestrated a makeover of their struggling bullpen and added a speedy infield threat, capping off a swapping season that had already seen them find a new third baseman and fortify their bench. Bravo.
The Yankees are now in position to send wave after wave of mega bullpen arms at opponents in their march toward the postseason. And imagine how new relief aces Camilo Doval, David Bednar and Jake Bird might meld with incumbents Devin Williams and Luke Weaver to shorten playoff games. That, of course, is what really matters in today’s league, where bullpens can rule October.
That is the pinstriped best-case scenario, obviously. We’ll see if it works out. In the meantime, here is a report card on general manager Brian Cashman’s trade deadline moves.
Trade(s): Relief re-up over three separate deals
The Yankees got Bednar, Doval and Bird — all righties — for a total of nine prospects. Bednar is under club control through next season, while Doval and Bird are under control through 2027 and 2028, respectively. So, the Yankees have a future back-end cushion with Williams and Weaver heading for free agency after this season.
Bednar was so bad at the start of the season, that the Pirates sent him down to Triple-A. But he’s roared back with a 1.70 ERA in 39 games since, allowing one homer in 37 innings while striking out 50 and walking eight. He could be the Yankees' closer next season.
Doval walks too many (24 in 46.2 innings), but he can pile up strikeouts and ground balls and suppress homers. He’s got 15 saves and a 3.09 ERA. Two years ago, the then-Giants closer led the NL with 39 saves. He could be next year’s closer, too.
Bird’s curveball is a nifty swing-and-miss weapon, and his 62 strikeouts were tied for fourth-most in the NL. Batters are hitting only .185 against his curve this season, and he’s allowed just one extra-base hit on the pitch in 57 plate appearances that have ended on it. Bird was great early (1.41 ERA through June 10), but he hasn’t been as good since and his season ERA is 4.73.
To make these deals, the Yankees had to dip into their farm system. But they didn’t trade their brand-name prospects, though their cache of catching depth will be hurt by the loss of Rafael Flores and Edgleen Perez. Both were in the Bednar deal. Flores, who was signed for just $75,000, was their eighth-best prospect, according to MLB Pipeline.
Grade: A
Trade: INF/OF Jose Caballero from Rays for OF Everson Pereira and PTBNL/cash
The Yankees needed a backup shortstop, and Caballero can do that and also chip in around the diamond, including the outfield. He’s tied for ninth in outs above average at short, according to Statcast, so he’s a fine defender.
It’ll be interesting to see how/if his presence impacts Anthony Volpe, who leads the league in errors (16). At least the Yankees now have a true backup, should they decide to give Volpe a day off.
Caballero is also a huge threat on the basepaths — he's tied for the MLB lead in steals with Oneil Cruz of the Pirates at 34, and he led the AL with 44 steals last year. Caballero, who turns 29 at the end of August, is batting .226 but has a .328 on-base percentage.
Back when he was with the Mariners in 2023, Caballero stepped in and out of the batter’s box a bunch while facing Gerrit Cole. Cole struck out Caballero and then, amidst chirping and finger-wagging from the Seattle dugout, famously stared at Caballero and wagged his index finger back.
Pereira, once a top prospect, had 19 homers at Triple-A. He made his MLB debut in 2023, but batted just .151 in 27 games and never got back to the big-league club.
Grade: B
Trade: 3B Ryan McMahon from Rockies for two pitching prospects
The Yankees solved their third-base problem short term and for the next two years by trading for McMahon, a player they’ve been linked to for quite some time. A 30-year-old who won’t be a free agent until 2028, McMahon is a very good defensive player with some pop who might even get an offensive boost from Yankee Stadium.
Of course, some Yankees fans may be suffering from FOMOG, an affliction translated as “Fear of Missing Out on Genio,” because the club did not get the best third baseman on the market — Eugenio Suárez. And the Mariners, a potential October roadblock, did. Should the Yankees have aimed higher? Perhaps.
But McMahon instantly made the Yankees better. Isn’t that what trades are supposed to do? They would not survive long with Oswald Peraza (.452 OPS) as their primary hot-corner option.
McMahon is a lefty hitter who swings hard (79th percentile in Statcast’s bat speed metric at the time of the trade), hits the ball hard (98th percentile in average exit velocity) and is aiming at that ludicrous short porch in right field in the Bronx. In other words: “Yes, please!”
McMahon has smacked at least 20 homers in each of the last five full seasons and had 16 entering play Thursday. He’s already made his presence felt in five games in pinstripes, knocking a walk-off hit Wednesday, batting .353 entering Thursday and dazzling Yankeeland with his defense.
Clearly, the Yankees thought the Suárez price was too dear. McMahon cost the Yankees lefty Griffin Herring and righty Josh Grosz, neither of whom is among their best pitching prospects. Worth it, even if they also imported McMahon’s prodigious strikeout numbers (31.4 K%).
Grade: B
Trade: UTL Amed Rosario from Nationals for RHP Clayton Beeter and a prospect
Trade: OF Austin Slater from White Sox for a pitching prospect
We are treating these trades in one capsule because Rosario and Slater, both rentals, give the Yankees some protection against left-handed pitching — a much-needed addition. They wanted to improve their bench at the deadline and it has indeed improved.
Assuming Slater (.860 OPS against lefties this year) produces, the idea of giving him outfield starts against left-handed beasts such as Tarik Skubal, Garret Crochet or Framber Valdez at least offers some comfort for a team with a lot of lefty bats. Especially with how Jasson Dominguez has struggled when he bats righty — he’s hitting a measly .205 with a .578 OPS.
Rosario, a rental, offers a capable bat against lefties (.307 average, .829 OPS). He was never going to be the backup shortstop — a job that belongs to Caballero now — but he’s capable at second base, third base and in the outfield.
There’s plenty to like about late pinch-hit at-bats for both players against lefty relievers, too. Slater, for instance, has eight pinch-hit homers since 2017, tied with Wilmer Flores for the most in the majors over that span.
Grade: B-
Trade: INF Oswald Peraza to Angels for OF Wilberson De Peña and international bonus pool money
This grade is no comment on the 18-year-old De Peña, who was batting .227 with four homers for the Angels’ team in the Dominican Summer League. Rather, it’s an indictment of how the Yankees couldn’t turn Peraza, a slick shortstop who was once one of their best prospects, into something more over time.
Peraza did not perform — he’s batting .152 — but in his first taste of the majors in 2022, he hit .306 with an .832 OPS in 18 games and even started a postseason game. The next spring, he lost the shortstop competition against Volpe and struggled to impact the big-league club afterward.
Grade: D
Overall
The Yankees must blend seven new players into their clubhouse, something Aaron Judge figures to make smooth. If it is indeed an easy transition, Yankees new and old could all be playing together deep into the chilly part of the year.
The bullpen likely will be key. Their relief ERA is 4.89 since June 1 and — egad! — 6.29 since July 1. Only the hopeless Rockies had a worse ERA in July. By adding Bednar, Doval and Bird, they now have the potential for a daunting pen and should get Mark Leiter Jr. and Fernando Cruz back from injury at some point in August. Even Jonathan Loáisiga (4.45 ERA) has looked better recently.
The bench is better and McMahon could lengthen the lineup while boosting the left-side defense. And doing all of it didn’t seem to cost that much — Spencer Jones and George Lombard Jr. are still in the organization — though we won’t get a full accounting of that until we see how all those dealt prospects develop.
One complaint — they did not acquire a starting pitcher. Not that it would’ve been easy or cheap, but it might prove necessary. That’s why the grade is not an overall A.
But the 2025 Yankees are more formidable now.
Grade: A-