David Bednar is officially a free agent, according to an MLB Players Association announcement on Thursday, and the New York Yankees must now decide how much to invest in the 32-year-old closer.
With no clear successor waiting in the bullpen, the Yankees have to settle on a price, and one way or the other Bednar appears in line for the richest contract of his career.
Bednar was among 144 players declared free agents Thursday, joining nine other Yankees on the open market, as the MLBPA announced.
The Pittsburgh native, born Oct. 10, 1994, was a 35th-round pick of the San Diego Padres in 2016 out of Lafayette College. He made his major league debut on Sept. 1, 2019, and has since collected 146 saves and a 3.03 ERA in 379 appearances. Bednar was an All-Star in 2022 and 2023, and his 39 saves in 2023 led the National League.
New York traded for Bednar on July 31, 2025, sending catchers Rafael Flores and Edgleen Pérez and outfielder Brian Sánchez to the Pittsburgh Pirates.
Bednar’s Value to the New York Yankees
Bednar has posted a 2.39 ERA in 86 appearances and 45 saves for the Yankees.
His 2026 line was 7-3, 2.47 ERA, 35 saves in 39 chances and 76 strikeouts in 69 1/3 innings. From June 1 on, he posted a 1.39 ERA across 45 1/3 innings, and in the postseason he has allowed one earned run in nine innings with 12 strikeouts.
Bednar threw his signature pitch, the split-finger fastball, 41.2% of the time in 2026, the first season it served as his primary pitch, and hitters batted .149 against it. His 38.4% chase rate landed in the 99th percentile in baseball.
Baseball Now called him the most important arm in the New York bullpen, and the Yankees have no obvious replacement on the roster.
David Bednar Free Agency Outlook for the New York Yankees
Bednar earned $9 million in 2026. The Yankees are expected to hand him a $23.15 million qualifying offer, which would make it the largest single-season salary ever for a reliever.
Bednar is expected to decline. If he signs elsewhere, the Yankees would collect a draft pick after the fourth round, roughly No. 130 to 135 overall.
His camp will probably aim to top the four-year, $58 million deal Raisel Iglesias landed from the Los Angeles Angels with a qualifying offer attached, which rates Bednar the top right-handed reliever on the market.
Jim Bowden of The Athletic projects a three-year, $55 million contract and calls the Yankees the best fit. “He proved he could handle pitching in the pressure environment in New York,” Bowden wrote. Spotrac values Bednar at three years and $47.1 million.
So will the Yankees pay it? MLB Trade Rumors reasons they would welcome him back on a one-year term with a payroll north of $250 million, but Baseball Now noted the club does not usually spend heavily on relievers.
The Toronto Blue Jays could pair Bednar with closer Louis Varland, according to Jays Journal, though his price is the biggest obstacle. The Kansas City Royals blew 26 saves while converting 38 in 2026, and Sports Illustrated argued they should pursue him.
Rejecting the offer would not close the door on New York. A player who declines remains free to re-sign with his old club.
Yankees Face $23.15 Million David Bednar Decision After 35-Save Season