The New York Yankees faced some challenges in the back end of their bullpen in 2024, prompting a shift in the closer role. They opted to use Luke Weaver instead of Clay Holmes, a move that, in hindsight, proved to be the right decision.
Holmes, now a free agent, should still be in a solid position to earn a good contract despite some inconsistent performances. While he had struggles at times, he was an All-Star and still possesses above-average stuff on the mound. Although the Yankees could consider re-signing him if he returns to form, saving money might be the more prudent choice.
Tim Britton of *The Athletic* predicted Holmes would land a two-year, $20 million deal. He also mentioned the Cincinnati Reds as a potential suitor, indicating that Holmes might leave New York.
“Acquired by the Yankees at the 2021 trade deadline, Holmes was initially viewed as a middle-innings reliever with a career ERA of 5.57,” Britton wrote on November 7. “However, he quickly transformed into a legitimate closer, earning two All-Star selections by his age-31 season.
Over his three-plus years with the Yankees, Holmes racked up 74 saves and posted a 2.69 ERA. While he lost his closer role late in the 2024 season, he regained his form in the playoffs and played a key role in getting the Yankees to the World Series. Teams interested in him may view him as either a closer or a veteran setup man, both of which would be more valuable than what the Yankees expected when they first acquired him.”
Why the Yankees Might Not Re-Sign Holmes
Beyond his occasional struggles, the Yankees also have financial considerations as they look to sign Juan Soto. Every dollar spent on free agents like Holmes could take away from the potential $600 million contract the team is expected to offer Soto. While Holmes’ $10 million average annual value (AAV) isn’t a terrible deal, it could be better spent elsewhere as the team focuses on securing Soto.
Given that Holmes has been underperforming in some fans’ eyes, it’s a real possibility that the Yankees move on. Adam Weinrib of FanSided highlighted this concern, noting that Holmes’ relationship with the fan base had soured before his strong playoff showing.
“Since losing his closer role, Holmes has shown some improvement, especially with his sinker,” Weinrib wrote on November 1. “The question now is whether he’ll still be paid like a closer or settle for a contract in the $8-10 million range for three years.
For the Yankees, that might be too much of a commitment, especially considering their other financial priorities and how far Holmes’ relationship with fans had deteriorated before his playoff resurgence.”
Should the Yankees Bring Holmes Back?
Looking ahead, the Yankees are likely better off pursuing a different reliever. With Holmes potentially commanding $20 million, there may be cheaper options on the market who could provide a better fit for the team’s needs.
While it wouldn’t be surprising if Holmes succeeds elsewhere, his performance in New York wasn’t consistent enough to justify a long-term deal, and the pressure of playing in a high-profile market might have contributed to his struggles. He also led MLB with 13 blown saves in 2024, which raises further questions about his reliability.
With other relievers available in free agency, the Yankees will have alternatives, and that will likely influence whether Holmes returns to New York.
