Yankees Potential Free Agent Target: Merrill Kelly

There is a chance that at some point in 2025, the Yankees will have a truly excellent starting rotation. Max Fried and Carlos Rodón are coming off of great seasons, Cam Schlittler is looking to make more noise in his sophomore campaign, Gerrit Cole and Luis Gil hope to bounce back from injury-riddled seasons, while Will Warren and Ryan Yarbrough provide valuable depth. It is a good group, but it is a tale as old as time that you can never have enough quality pitching — especially with Cole and Rodón already a lock to miss the beginning. It is a volatile line of work, and the Yankees have been exposed to the risks as much as any other club. While there is a good group in the fold now, it’s almost never a bad idea to have some depth behind the group that’s being leaned on.

One option who would fit that bill in this year’s market would be Merrill Kelly. At 37 years old, and coming off of a good campaign split between Arizona and Texas, Kelly’s 2026 team decision will not be a blockbuster, but it will be interesting to see the terms he ultimately agrees to in free agency.

After being drafted for the first time nearly two decades ago, Merrill Kelly did not make his MLB debut until age 30 in 2019, following four seasons in Korea with the SK Wyverns. After a fine 180+ innings in that first season in The Show and a shortened 2020 campaign, he treaded water in ‘21, before having his real breakout in 2022. That year, the then-33-year-old eclipsed 200 innings, and pitched to the tune of a 3.37 ERA. He was just as good a year later, and boosted his strikeout rate to a career-high 25.9 percent while helping the Diamondbacks claim a surprising National League pennant. He took a step back in an injury-shortened 2024 season, but reclaimed his viability as a very good mid-rotation starter in 2025.

Kelly began last season with the Diamondbacks before being traded to the Rangers just before the deadline. The seasoned vet pitched 184 innings over 32 start, looking about as good as ever — particularly in his 22 starts with Arizona, where he posted a 3.22 ERA pre-trade. In total, his 3.76 FIP was the second-best mark in his seven years in the majors, and he’s heading into the free agent market on a high note, despite a few things working against him.

At 37 years old, it will be difficult for Kelly to fetch a deal for more than a year or two, and despite his relative success, the dollar amount likely won’t be overwhelming either. As a player, his stuff won’t blow you away, but success speaks for itself. Kelly relies heavily on his changeup, throwing it more than a quarter of the time (with great success), leading the charge for his diverse pitch mix. He induces plenty of chases, and avoids walks with an average ability to rack up swings-and-misses.

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The FanGraphs crowdsourcing projects Kelly for two years and $32 million. That would be a nice pay day for the veteran, who has spent his MLB career in a cycle of short-term deals and accepted team options with the D’backs. It would be hard to deny that he’s in the twilight of a pitching career, which comes with some risk, but he has still shown serious recent success, and all Major League teams are obviously willing to pay for that in their rotations.

As far as a fit with the Yankees, there isn’t exactly an obvious opening that a Merrill Kelly signing would fill, but as mentioned, there is no such thing as too much starting pitching. At that price point, the Yankees may opt for help elsewhere on the roster, but a move to bolster starting depth should never come as a total surprise.