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Afternoon Edition

November 25, 2025

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Yankees managing general partner Hal Steinbrenner told reporters Monday that the team will consider adding to the roster, but there is no set budget for 2026. He drew a key distinction between the revenue the team brings in and its expenses.

— Eric Fisher [[link removed]] and David Rumsey [[link removed]]

Steinbrenner: No Set Budget Yet for Yankees in 2026 [[link removed]]

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The Yankees remain in the midst of a 16-year championship drought, the third-longest such run in franchise history, and they have multiple holes in their roster. Despite that, managing general partner Hal Steinbrenner said the club’s player payroll could decrease for 2026.

Speaking with reporters by Zoom, Steinbrenner said it would be “ideal” if the Yankees found a way to trim their $319.2 million luxury-tax payroll from 2025, an outlay that ranked third in Major League Baseball behind the World Series champion Dodgers [[link removed]] and the Mets.

“Would it be ideal if I went down [in payroll]? Of course,” Steinbrenner said. “But does that mean that’s going to happen? Of course not. We want to field a team we know could win a championship—or we believe could win a championship.”

More than a month after Yankees GM Brian Cashman insisted the club’s offseason operations would be “business as usual,” [[link removed]] Steinbrenner largely reiterated that strategy, saying they will look to add to the roster, but that there is no set budget for 2026. That sentiment arrives despite rising fan unrest in New York and the looming possibility of a reformation of MLB’s economic structure as the league enters labor negotiations next year with the MLB Players Association.

“We can talk before [Cashman] goes into the Winter Meetings about a [payroll] range, but because it’s a fluid situation, that range can go bye-bye in two seconds if there’s a deal that arises that I feel would be very beneficial to some area of need that we have. It’s hard to give you a number,” Steinbrenner said.

Outfielder Trent Grisham recently accepted a one-year qualifying offer worth $22.025 million to remain with the Yankees. Otherwise, the team still has multiple needs in the infield and bullpen, and outfielder Cody Bellinger is a free agent, part of a robust class of available talent this offseason [[link removed]]. Bellinger is represented by powerful player agent Scott Boras [[link removed]].

Labor and Economics

Steinbrenner’s media session then grew somewhat more tense when he faced questions about the club’s financial outlays given a rising revenue situation across the sport, and the Yankees’ strong off-field performance that included ranking third in MLB attendance this year [[link removed]] behind the Dodgers and Padres and viewership on the YES Network that grew 5% [[link removed]].

Forbes has estimated that the Yankees generate more than $700 million [[link removed]] in annual revenue.

“I don’t want to get into it. But that’s not a fair statement or an accurate statement,” Steinbrenner said when asked about the Yankees turning a profit this year. “Everybody wants to talk about revenues. They need to talk about our expenses. … Nobody spends more money, I believe, on player development, scouting, performance science. These all start to add up. If you want to go look at the revenues, you’ve got to somehow try to figure out the expense side as well. You might be surprised.”

Like many MLB clubs, the Yankees’ finances as a private organization are largely opaque, and the separate holding structure for the YES Network, led by the Steinbrenner family, further complicates the situation. The Braves are the only MLB club to operate as its own publicly traded entity, and that team posted an adjusted profit of $67.2 million [[link removed]] for its most recent quarter while also declaring itself a “win-now” franchise.

While MLB has yet to finalize a bargaining proposal to present to the MLBPA, Steinbrenner conveyed support for a salary floor—something typically connected to a cap that the union has long resisted.

“Something that would be reasonable enough that it would improve competitive balance significantly in the sport,” Steinbrenner said when asked about a potential floor. “Many fans already argue it’s not been enough.”

SPONSORED BY PEPSI

NYC Classics and New Favorites at MetLife Stadium

MetLife Stadium might be home to two NFL teams, but the real competition is happening in the concession stands. In the newest episode of Stadium Eats presented by Pepsi [[link removed]], Front Office Sports and NYC food creator @theerichammer run through a tasting lineup that includes Hoboken hot beef, a Colombian hot dog, spicy rigatoni, the filet sandwich, chicken parm, and brisket tots.

We taste it all, rate it, and break down every bite from price to flavor [[link removed]] to determine which dish you need on your next trip to MetLife.

Catch the full episode [[link removed]] to see which New York favorite comes out on top.

Ohtani Returns to Play for Japan in 2026 WBC [[link removed]]

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Major League Baseball’s two biggest stars are confirmed to participate in the 2026 World Baseball Classic, a key initiative for this offseason.

Dodgers superstar Shohei Ohtani, the two-time reigning National League Most Valuable Player and by most accounts the sport’s top talent, said he will play for Japan in the upcoming WBC, with that squad looking to defend its tournament title from 2023. Ohtani’s WBC participation wasn’t necessarily in doubt, as he was a key fixture in that prior event, including striking out Angels star Mike Trout, playing for Team USA, to close out the championship game.

The return engagement, however, solidifies a massive dose of star power for the international competition, set for March 5–17. Ohtani will join Yankees superstar Aaron Judge, also a two-time reigning MVP in the American League. Last spring, Judge confirmed his WBC appearance, which will be his first, and he will captain the U.S. team.

“I’m happy to play again representing Japan,” Ohtani wrote in Japanese in a Monday social media post.

Ohtani, whose two-way talents are a core part of his stardom, did not specify whether he will pitch in the WBC. Often, pitchers who pitch extensively in the postseason, as Ohtani did, will skip a WBC happening just a few months later. The tournament, however, is a major priority for MLB and the MLB Players Association, and a deep source of national pride in Japan. Even if Ohtani doesn’t pitch again in the WBC, he will still be a core part of the Japanese team’s lineup.

In addition to Ohtani and Judge, other top MLB talents set to play in the WBC include Pirates pitcher Paul Skenes, this year’s NL Cy Young Award winner [[link removed]], as well as Mets shortstop Francisco Lindor and Royals catcher Salvador Perez.

The WBC also comes during a fast-rising tide of international interest for MLB. The recent World Series, won by the Dodgers, generated massive viewership in Japan and Canada [[link removed]]. The presence of Ohtani on the Japanese team, meanwhile, will likely boost viewership of WBC games there, which will be shown on Netflix [[link removed]]. Fox, meanwhile, holds the U.S. media rights to the 2026 tournament.

Brian Kelly Claims LSU Preventing Him From Getting a New Job [[link removed]]

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The lingering feud [[link removed]] between LSU and fired football coach Brian Kelly is getting messier, potentially complicating the all-out efforts by the Tigers to win the Lane Kiffin sweepstakes [[link removed]].

Kelly’s lawyers recently alleged LSU’s handling of ongoing buyout negotiations is preventing him from getting hired elsewhere.

“There is absolutely no basis to LSU’s contrived positions that Coach Kelly was not terminated or that cause existed for such termination,” Kelly’s attorney, Skadden partner Rob Fumerton, said in a Nov. 18 letter to LSU athletic director Verge Ausberry and board of supervisors member John H. Carmouche, a copy of which was obtained by Front Office Sports.

“LSU’s conduct, including its failure to confirm that Coach Kelly was terminated without cause and its unsupported allegations of misconduct on the part of Coach Kelly, has made it nearly impossible for Coach Kelly to secure other football-related employment,” the letter continued. “LSU’s conduct continues to harm Coach Kelly, particularly during this critical hiring period, and Coach Kelly reserves all rights to seek any and all damages to the fullest extent permitted by law.”

ESPN first obtained a copy of the letter and revealed its contents [[link removed]].

Earlier this month, Kelly filed a lawsuit against LSU [[link removed]] to force the university to pay the full $53 million worth of his buyout after being fired Oct. 26 [[link removed]]. The lawsuit said LSU informed Kelly it had taken the position that he had not been “formally terminated,” and that it was going to argue he was fired “for cause,” meaning it wouldn’t owe him his $53 million buyout. LSU has not commented on the matter, citing the ongoing legal case multiple times.

Beyond LSU, 11 other FBS programs have fired their head coach [[link removed]] since the season started, and several more could make moves following the end of the regular season Saturday. Virginia Tech has already hired a new coach in James Franklin [[link removed]], who was fired by Penn State [[link removed]] 12 days before LSU let Kelly go.

LSU’s inability to finalize its separation agreement with Kelly comes as the school is making a huge push to try to hire Kiffin away from Ole Miss. LSU is likely prepared to make Kiffin the highest-paid coach [[link removed]] in college football, surpassing the $13.28 million annual salary Georgia is paying Kirby Smart this season. Florida is also targeting Kiffin for its own vacancy, and Ole Miss is trying to keep him in Oxford.

Ole Miss will make an announcement about Kiffin’s future on Saturday, the day after Ole Miss plays rival Mississippi State in the Egg Bowl on Black Friday. The Rebels are 10–1 this season, and they are No. 6 in the College Football Playoff rankings, meaning they are likely to make this year’s 12-team field, even if they lose to the Bulldogs.

Kelly is one of four SEC coaches to be fired [[link removed]] this season—25% of the 16-team conference. Kiffin leaving Ole Miss would mean at least five SEC head-coaching changes this year, pending any further moves.

FRONT OFFICE SPORTS TODAY Netflix’s Big Sports Play: Elle Duncan Hire, ESPN Fallout

FOS illustration

Netflix is closing in on hiring ESPN’s Elle Duncan as the face of its sports coverage, signaling a major shift in the streamer’s ambition to compete with traditional sports broadcasters. FOS Tuned In columnist Michael McCarthy breaks down what the move means for Netflix’s long-term sports strategy, why ESPN may fight to keep Duncan, and how streaming giants could reshape the future of live sports rights.

Plus, Baker Machado and Ben Horney discuss the latest developments in the NBA gambling investigation, Chauncey Billups’s arraignment, and a new lawsuit against Suns owner Mat Ishbia that accuses him of using the team as a “personal piggy bank.”

Watch the full episode here [[link removed]].

STATUS REPORT Three Up, One Push

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NFL on Amazon ⬆ The streamer heads into its third Black Friday NFL game (Bears-Eagles), part of a 15-hour all-day sports special [[link removed]]. Thursday Night Football has been averaging 14.78 million viewers per game this season, up 12% from last season, and its best mark since Prime Video took over the package’s exclusive broadcast rights in 2022.

PGA Tour players ⬆ Two new financial initiatives [[link removed]] will roll out in 2026 to benefit lower-ranked golfers. The member support program will award $150,000 in earnings assurance to Nos. 126 and beyond on the prior season’s FedEx Cup points list who were exempt during that season. The pathways player achievement grant will give exempt Korn Ferry Tour members $15,000 grants at the start of each season that players can use for anything they wish.

Tatsuya Imai ⬆⬇ The Japanese pitcher, part of a robust class of available talent [[link removed]] in MLB’s hot stove period and represented by mega-agent Scott Boras [[link removed]], almost certainly will not be joining the defending-champion Dodgers [[link removed]]. When asked about joining countrymen such as Shohei Ohtani, Yoshinobu Yamamoto, and Roki Sasaki, Imai instead said in an interview [[link removed]], “I want to take them down.”

Joe Buck ⬆ The ESPN announcer will perform double duty on Dec. 1, guest anchoring Good Morning America in New York for sister Disney-owned network ABC and then travel to Massachusetts that day for a Monday Night Football game between the Giants and Patriots. ESPN president of content Burke Magnus called the move a way “to leverage [Buck’s] talent across the company.”

Editors’ Picks Jalen Duren’s Emergence Will Be Expensive for Red-Hot Pistons [[link removed]]by Colin Salao [[link removed]]Duren and the Pistons did not agree to an extension last summer. NHL Commissioner Says League Can Control Prediction-Markets Contracts [[link removed]]by Ben Horney [[link removed]]Polymarket and Kalshi are “official partners” of the league. Every WNBA Player Project B Has Signed So Far [[link removed]]by Dennis Young [[link removed]]Several big WNBA names have committed to the new league. DAILY TRIVIA Factle Sports

Can you list the top 5 highest-paid women’s college basketball coaches?

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