It’s been barely 48 hours since Bob Nightengale dropped the news that “the Dodgers will look to acquire a top-tier closer” this offseason, and they’ve already zeroed in on their target—one the Yankees have been quietly eyeing for weeks. The pitcher with the triple-digit fastball has become the most coveted arm in free agency, and the reigning World Series champions are now standing directly in the NYY’s path.

That closer? Edwin Diaz, who opted for free agency on November 4th, has become the apple of an eye in the trade market. And why not? His 2025 numbers tell you everything: a 1.63 ERA across 62 appearances, 98 strikeouts in 66.1 innings. He’s not just available—he’s proven, battle-tested, and exactly what bullpens in chaos are desperate for.

According to the Sporting Tribune, the Dodgers are now the favorites to land Diaz, according to BetOnline.ag. They wrote, “Los Angeles Dodgers are the favorites to sign him, listed at 5/2 (+250).” Meanwhile, the Yankees sit at 3/1, with the Giants, Rangers, and Cubs trailing behind.

The urgency is real. The Dodgers’ bullpen ranked 21st in baseball last season with a 4.27 ERA, a glaring weakness that somehow didn’t derail their championship run. He would give them the back-end anchor they’ve lacked since Kenley Jansen’s departure, someone who can slam the door when it matters most. They need stability in the ninth inning, and Diaz delivers precisely that.

Diaz—a two-time All-Star and former Reliever of the Year—fits their blueprint perfectly. They’ve got $87 million coming off the books, and they’re not shy about spending it.

The Yankees weren’t much better, finishing 23rd with a 4.37 bullpen ERA. Their late-game meltdowns became a recurring nightmare, and adding Diaz would finally give Aaron Boone a reliable option to close out tight games. But with his contract sitting at $102 million over five years, the bidding war might heat up fast.

The Dodgers have the payroll. The Yankees have the desperation—they haven’t won a ring since 2009, and retooling the roster is no longer optional.

Jeff Passan has already called the Dodgers’ signing of Diaz “the perfect transaction,” and with odds tightening by the day, the Bronx might be watching their closer walk to Los Angeles.

So, if the 31-year-old walks away, then who can be the next option for Brian Cashman? Well, the insider already has a name hailing from Florida.

Tampa’s surprise free-agent decision opens the door for the NY Yankees

The Yankees can’t rely solely on Edwin Diaz for their bullpen. With Los Angeles pushing hard, the market is tightening. New York needs a strong secondary target, and Pete Fairbanks fits the bill. Many expected Tampa Bay to pick up his option and trade him, but they missed the chance, placing a valuable high-leverage arm directly in the Yankees’ path.

Pete Fairbanks has the exact profile the Yankees need: a fastball that reaches the upper 90s, a quick slider, and the competitive edge of a real late-inning threat. He has a 2.83 ERA and 332 strikeouts in 265.1 innings over the past four seasons.

This makes him one of the league’s most reliable relievers. He might not be as good as Diaz, but he’s definitely in the top tier and can either take the ninth or team up with David Bednar to make a strong late-inning tandem.

He makes much more sense when it comes to money. Spotrac says his worth is about 3 years and $41.3 million, which is a lot less than what Diaz or Robert Suarez will get. Even if the market boosts that amount, he still looks like a cost-effective, high-impact addition, which is precisely the move the Yankees need to make to keep their roster balanced without going overboard on payroll.

No matter how the bidding starts, Tampa’s mistake has put the Yankees in a rare good position. Not only is Fairbanks available, but he is also available at the right time.