The Yankees and Padres are two teams that have expressed interest in left-handed pitcher Blake Snell, writes New York Post reporter Jon Heyman (link to X). Reports emerged earlier this week that pitching-shortage championship contenders were interested in Snell, with New York and San Diego being the first known teams to contact the Giants about acquiring him.
It remains to be seen whether the Giants will actually move Snell or, considering they’re just 4.5 games out of a wild-card spot, whether they will actually sell him at the deadline. Snell himself is a big factor in San Francisco’s renewed championship hopes, and the lefty has been nearly untouchable since returning from the disabled list. Snell owns a 0.75 ERA and 35.7% strikeout rate in his last four starts, including an impressive 15 strikeouts yesterday against the Rockies.
That’s exactly the type of starting pitcher the Giants were hoping for when they signed the Cy Young Award winner to a two-year, $62 million contract in March, but Snell’s extended free agency period followed by a lack of adequate practice in spring training took a toll on his performance, resulting in two trips to the disabled list (an adductor injury and a groin injury) and a 9.51 ERA through his first six games in a Giants uniform.
Snell’s recent injury history would certainly weigh on any team approaching the Giants to trade for him, not to mention the fact that he can opt out of the second year of his contract (and his $30 million salary). Having this opt-out clause means Snell is not a rental player, creating extra financial risk for any acquiring team and making it harder to put together an acceptable trade package with San Francisco. Snell’s recent form makes it more likely he will exercise his player option, but if further injury issues arise, Snell could decline the opt-out and remain under contract for the hefty $30 million salary next year.
Snell is a natural celebrity for the Padres, having pitched for San Diego from 2021-2023, but the financial aspect of the Snell trade is especially notable for a Padres team looking to stay within the luxury tax threshold this season in order to reset its penalty status after two years of overages. San Diego’s acquisition of Jason Adam from the Rays today provided a fairly small financial hit, but the Padres had to give up a hefty prospect package to acquire a relief pitcher. Salary aside, there’s also the broader fact that the Giants seem pretty unlikely to trade Snell to a division rival.
The Bronx Bombers have long been after Snell, and the six-year, $150 million offer Snell reportedly received from the Yankees in January was the largest contract for the left-hander in the protracted free-agent market. As Heyman points out, the luxury tax is also a factor, as New York is already over the tax penalty limit ($297 million). RosterResource estimates the Yankees’ competitive balance tax figure is just under $312.9 million, which means any future salary additions would result in a 110% tax hit.