Over the past two days it has become abundantly clear that the Yankees do have a budget, and that they’ve basically reached the threshold. Since acquiring Javy Vazquez in December, Brian Cashman has told agents and reporters alike that the team had about $2 million to spend. When they signed Randy Winn for that amount and publicly declared Johnny Damon a former Yankee, they proved that the budget was no bluff. Recent reports indicate that the Yankees will focus on non-roster invites, with Marcus Thames, Rocco Baldelli, and Jonny Gomes specifically mentioned. The team’s lack of financial wiggle room also affects another oft-mentioned free agent.

Now that we’re done discussing Johnny Damon, many of us will turn to the most prolific former Yankee on the market, Chien-Ming Wang. Last time we checked, Wang’s agent, Alan Nero, sounded curiously optimistic about his client’s prospects. Shoulder surgery is no small deal, especially for a pitcher who relied on a power sinker that radar guns clocked at 95 mph. Yet Nero claims interest is strong in Wang, and that he expects “a major-league offer with a substantial guarantee and a substantial upside,” adding that he and his client would be comfortable waiting until May, Wang’s target return date, if necessary.

ESPN’s Jayson Stark has the latest from Nero, who claims that a few teams are heavily in on Wang now, and could perhaps make an acceptable offer before spring training. Wang, according to Nero, is “two to four weeks behind” his normal winter schedule, though Stark notes that teams “sounded more skeptical about that prognosis.” Stark identifies the Mets, Dodgers, and Cardinals as the teams most connected to Wang.

The story hasn’t changed, really, since the last time we heard from Nero. Wang remains a considerable risk, and since he won’t return until early May at the earliest I can’t see any team offering him a deal, as Nero says, that they “can’t say no to.” What would that take, two, three million? Is there any team desperate enough for a pitcher that they’d pay two, three million for someone coming off shoulder surgery and who can’t pitch until May? Other than the Mets. Or maybe the Royals.

The Yankees appear not to have interest in retaining Wang at this point, at least on their terms. Maybe if they unloaded Gaudin’s salary they could fit Wang in the budget, but then why would you trade a healthy pitcher for one who had shoulder surgery six months ago? It’s sad to see him go, and I hope he makes a full recovery, but we’ve seen the last of Chien-Ming Wang in pinstripes.

The Yankees have bid farewell to many mainstays and fan favorites this off-season. Hideki Matsui is out in LA. Melky Cabrera has stopped in the land of ATL. Austin Jackson is losing his mind in Detroit rock city. Johnny Damon is…who knows what the hell Johnny Damon is doing? There’s one more Yankee free agent who figures to move on, the sinkerballer Chien-Ming Wang. We’ve heard intermittent updates on the progress of his shoulder and the market for his services, but we’ve yet to see anything concrete. That’s understandable, given the severity of his malady.

The latest word comes courtesy of Ken Rosenthal, who heard from Wang’s agent, Alan Nero. As expected, Nero speaks glowingly of his client, noting the fine progress in his rehab — “Everything is going extraordinarily well,” he said — and the expected volume of his contract offers. Six teams are reportedly poring over his medical records, though we’ve seen the number of supposedly interested teams as high as 15. Still, Nero believes the market is strong for his client.

“We’re anticipating a major-league offer with a substantial guarantee and a substantial upside,” he said. At this point, however, with Wang not even throwing off a mound yet, will any team really be willing to offer him a guaranteed roster spot for “substantial” guaranteed money? It doesn’t appear likely, at least not until Wang moves a bit further along in his rehab.

That doesn’t appear to bother either agent or player. They know what they want, a big guarantee, and they appear willing to wait for it. How long, exactly? Perhaps until we’re a month into the season, when teams have a better view of the landscape.

“We’re so confident with what is going to happen, if we don’t do it until May, we’re OK,” said Nero. “Whoever shows the initiative to take a little bit of risk is going to win.”

It’s probably in Wang’s best interest to continue waiting. I doubt at this point, after a horrible 2009 campaign, any teams will give Wang a deal with “substantial guarantee and a substantial upside.” It just doesn’t make any sense. He’s now more than two years removed from his last 19-win performance, and as Mike examined at length last year, Wang had issues in 2008 as well.

By May — or even April, really — there will be a contender with a rotation need. They might pay a premium for Wang at that point, since they’re down a starter. But until a situation like that arises, I doubt any team will offer a substantial guarantee. Maybe a team will offer a small base salary, say a million, and stash Wang on the 60-day DL, but if he and Nero seek a “substantial guarantee,” the waiting game might suit them best.

This might rule out the Yankees, at least for the time being. Clearly Wang will go where the money flows and the innings are plentiful, and it doesn’t appear New York has either of those in abundance. Maybe circumstances will change between now and then, but at this point I think we can safely remove the thought of retaining Wang from our collective minds.

Credit: AP Photo/Frank Franklin II

Last week was a pretty eventful one for the Yankees, who brought back Andy Pettitte and added two players to their outfield while trimming the fat in the bullpen. The weekend was just as eventful for ex-Yanks’ ace Chien-Ming Wang, who was handed his walking papers on Saturday night. Six teams (three AL, three NL) immediately expressed interest in the sinkerballer, though the Yanks tried to woo him back with a split contract that guaranteed he’d be in the big leagues once his surgically repaired shoulder was good to go.

Despite all the interest in the former Cy Young runner up, Buster Olney is reporting that Wang might not sign for a few months according to his agent, Alan Nero. His client’s plans for the immediate future including getting checked out by Dr. James Andrews in early January, heading to Taiwan for some R&R, then returning to Arizona to keep working out. Doesn’t sound like the agenda of someone desperate to find a job.

Waiting until early in the season – or even midseason – to sign a contract is one of the newest trends hitting baseball these days. We’ve seen Roger Clemens successfully pull it off numerous times, and Pedro Martinez did the same thing with the Phillies this season. There’s also another guy that tried to pull this off in 2009, though things didn’t go so well for him: Ben Sheets.

Sheets started the offseason as one of the most sought after free agent pitchers, then had a little bit of a setback that was going to push his 2009 debut back, and before you knew it he was having elbow surgery that would sideline him the entire season. Shoulders are much trickier than elbows (remember, there wasn’t any ligament damage in Sheets’ elbow), but if Wang is confident in his health and his ability to recover, then he should (in the words of his agent) “be prudent” and explore what’s out there for him.

Teams will surely be looking for rotation help in March and April and May, and Wang will likely be the best available pitcher on the free market. And, of course, he won’t be ready until basically mid-season anyway, so it makes sense for him to remain patient and see what’s out there. Nero said Wang could eventually re-sign with the Yanks, and if a scenario plays out in which Phil Hughes and/or Joba Chamberlain is struggling, or one of the front three is on the shelf, or basically anything that would open a gaping hole in the rotation, then suddenly that split contract could turn into a Major League guaranteed deal worth more than it might be right now.

Hopefully for Wang, who I’m certain has made millions in endorsements, it’s the right decision.

Photo Credit: Reuters

If Chien-Ming Wang recovers from the shoulder injury he suffered last July, it will probably be with with another team. According to Bill Madden of the Daily News, the Yankees offered Wang a split contract which would guarantee him a spot on the active roster once his shoulder was ready. Wang’s agent, Alan Nero, rejected the offer, informing the Yankees that “Wang would be moving on.” This is not an unexpected development.

A free agent for the first time in his career, Wang surely wants to explore all of his options. Teams other than the Yankees will be interested, and perhaps one of them will offer the guaranteed money upon which Nero insists. There’s no harm in looking, and if no other offers top the Yankees’, chances are the two parties can work out a deal in the future.

The question of Wang’s potential return might hinge on the perceived rift between him and the Yankees. How much of this is true we don’t know, but there have been a few incidents, starting with the Yankees taking him to arbitration in 2008 over $600,000. A source tells Mark Feinsand that Wang is “still bothered” about the incident. Then there is the issue of Wang’s rehab from the lisfranc injury he suffered in 2008.

One story that sticks out in my mind is when Nero approached the Yankees about a possible contract extension. The Yankees said, “Make us an offer,” and talks ended there. That was before the arbitration incident.

For now, it appears Wang has his sights set elsewhere. There are reportedly six teams interested in him. The main questions here, I think, are of how Wang really feels about how the Yankees treated him, and of whether the Yankees are willing to top an offer from another team. The split minor/major league contract was already a good offer. We’ll see if Wang can get a similar one elsewhere.

Glove slap to iYankees for the Madden link.