The New York Yankees have been linked to many of the top free agents available this offseason, but could wind up not signing any of them.

The Yankees have had a relatively quiet offseason so far, only bringing back Trent Grisham on a one-year qualifying offer worth $22 million being the team’s biggest move. With Yankees owner Hal Steinbrenner acknowledging that the team could be more prudent moving forward with its spending, signing a top free agent may be out of the cards for New York.

New York has a reputation of spending, but broadcaster Michael Kay emphasized how the Yankees’ budgeting could take them out of the market for Cody Bellinger and Kyle Tucker in free agency.

“If they intend to stay under $300 (million), they are not getting (Cody) Bellinger, they are not getting (Kyle) Tucker, they are not going to be able to make any significant move,” Kay said in a video posted to X by ESPN New York. “Because if you look at the big salaries on the Yankees, who exactly can they move to create that salary space to bring in a $25 million or $30 million contract, let’s just say on Bellinger, and if it’s Tucker, a $40 million contract?

“And if you’re going to improve last year’s team, you can’t do that (cut payroll to be under $300 million). You can’t do it. And that’s why, if in fact it’s true that they are not going over $300 million — I have to wait and see if that’s true because I can’t believe that’s the marching orders, because if it’s the marching orders, they cannot recreate a 94-win team.”

Though the $300 million limit may not be strict, it will be interesting to see if the team is willing to spend the money to sign a player like Bellinger or Tucker this offseason.

More MLB: Yankees Trade Idea Swaps 2 Prospects for $116M All-Star Slugger