Ken Rosenthal:

Hamels, who has spent his entire career in Philadelphia, likely would be a better fit. But Hamels, like Grienke is a free agent at the end of the season. The acquisition cost for him would be high, and the Yankees might view him only as a rental, given their desire to be under the $189 million luxury-tax threshold by 2014.

New York Post:

Nick Swisher is a free agent after this season and Granderson after 2013. And if the Yankees adhere to their vow to have a payroll under the $189 million luxury tax for 2014, then there is pretty much zero possibility they will retain Swisher and a lot less of a chance than they want to portray of keeping Granderson long term.

To revisit some math: It will cost approximately $85 million toward the 2014 luxury tax payroll for just Alex Rodriguez, CC Sabathia and Mark Teixeira plus the roughly $10 million every team is charged for items such as insurance. The Yankees almost certainly would prioritize re-signing Robinson Cano (also a free agent after ’13) over Granderson and, with Scott Boras as his agent, Cano will end up no less than $20 million toward the cap — probably more. And Granderson is a major player with the union, so I do not see him taking a big discount to stay.

Thus, shoehorning even $40 million annually for Cano and Granderson would mean the Yanks have five players signed in 2014 for $125 million and have to put together the rest of a roster on about $60 million. Not impossible. But not likely.

This is why we said that the Yankees will be a worse team over the next couple years if Steinbrenner truly sticks to the $189 million. There’s too many bad contracts still on the books and generally, the Yankees’ best prospects are in the low levels of the farm system.