Yankees' Hal Steinbrenner is all for Steve Cohen's unlimited cash flow

Think back to four years ago and it’s pretty safe to assume Yankees managing general partner Hal Steinbrenner never imagined he’d be asked questions about a gigantic Mets signing on the day of re-introducing one of the franchise’s most high-profiled players fresh off signing the biggest contract in team history.

But then Wednesday morning happened.

The baseball world woke up to stunning news with reports the Mets agreed with Carlos Correa on a 12-year contract worth $315 million. Correa, who agreed to a 13-year deal worth $350 million with the Giants on Dec. 13, parted ways with the Giants regarding a reported medical concern in his physical. Mets owner Steve Cohen quickly capitalized on the opportunity to add another bat to his team’s lineup.

A few hours after that news broke, the Yankees re-introduced Aaron Judge, who won the American League MVP last season after hitting an AL record 62 home runs. Judge and the Yankees agreed to a nine-year contract worth $360 million on Dec. 7. It's the largest contract in team history.

Steinbrenner was asked if he had any thoughts of the signing coincidently coming on the same day the Yankees re-introduced Judge.

“It doesn’t bother me,” the 53-year-old owner said. “Steve has put together a great team. We have a great team, too. The timing is what it is. I’m focused on today. All I know is our Yankees fans are very excited today.”

The dynamic has seemingly shifted in New York since Cohen bought the majority ownership of the Mets from the Wilpon family in the fall of 2020.

Cohen, worth about $17.8 billion, according to Forbes, has the Mets’ opening day payroll at a projected to be $388 million for luxury tax purposes, per FanGraph’s RosterResource. With the competitive balance tax added in, Cohen could be paying more than $500 million from just player salaries alone.

The Yankees' current payroll ranks second at a projected $271 million, per FanGraph’s RosterResource, and $292 million for luxury tax purposes.

Steinbrenner said he has no regrets about supporting Cohen as an owner.

“We talked about it in March, I think having two great New York sports teams is phenomenal,” Steinbrenner said. “It’s phenomenal for this city, it’s phenomenal for the rivalry and I’m all for it.”

Derek Jeter, who briefly served as CEO of the Marlins following his Hall of Fame career with the Yankees, said he’s had minimal interaction with Cohen but said it was “good for them” for the Mets to be able to increase their payroll and build a strong team.

“I’m sure it’s greatly appreciated by the Mets fan base and I think that’s a good thing,” Jeter said. “I think baseball is better when New York teams are better.”

He added spending certainly helps build a winner but doesn’t guarantee success.

“I think spending gives you a better chance year in and year out,” Jeter said. “The better players are obviously going to make more money but it doesn’t necessarily guarantee you are going to win.

“I’d be lying if I said spending money doesn’t give you a better chance,” he continued. “But it doesn’t guarantee anything.”

Steinbrenner wouldn’t attach an exact payroll number to the Yankees for the beginning of next spring but admitted he has a range in mind.

“I’m not going to talk about specifics but I do have a place I’d like to land,” Steinbrenner said. “Whether we are there or not, I’m not going to get into that but all I can tell you is we are not done. I’d be surprised. We are continuing to look.”