Latest Update (Feb. 5)
The Yankees and relief pitcher Dellin Betances will go to an arbitration hearing on Feb. 17 to decide his 2017 contract, reports George A King III of the New York Post.
Previous Reports and Reaction
The Yankees will go to arbitration with Betances, GM Brian Cashman said Thursday, according to Brendan Kuty of NJ.com.
Cashman added that the gulf between the two sides was too large for them to come to an agreement.
Betances filed at $5 million, while the Yankees have offered $3 million, Jon Heyman of FanRag Sports reported last week.
The last time the Yankees went to an arbitration hearing to determine a new contract was in 2008 with pitcher Chien-Ming Wang, where an arbitrator sided with the Yankees.
Betances, 28, had a 3.08 ERA, 1.12 WHIP and 126 strikeouts in 73 innings in 2016.
Betances is one of the elite relievers in the game. He knows it and when he filed his first arbitration figure he had to reach for every dollar. His subsequent arbitration raises depend on it.
The Yankees recognize they have the advantage of controlling Betances for two more arbitration seasons after this one. As such, the club will do everything in its power to keep his salary down now, understanding it will continue to balloon if Betances turns in another top-flight season.
The $2 million gap might seem minor, but when the max value is $5 million, the difference is actually quite large. There is a close to a 67 percent increase from the Yankees' figure to what Betances filed.
No matter the final figure, the Yankees are set to extract extreme performance value from Betances in 2017.