He New York YankeesThe season was World Series or bust. Those are the expectations that come with acquiring a player of Juan Soto’s caliber.

Then, while the Yankees advanced to the World Series, they were defeated by the Los Angeles Dodgers. The series ended in five games, with the Dodgers dominating the Yankees in every aspect and leading New York into a winter filled with extreme uncertainty.

The most pressing question, of course, is Soto’s future. The superstar outfielder is a pending free agent and will draw interest from many teams, including the Yankees, New York Mets, Philadelphia Phillies, Los Angeles Dodgers and others. The Yankees are considered one of the favorites to sign Soto long-term (he likes New York and they have the financial means to sign him), but there are no guarantees, especially with Mets owner Steve Cohen on the prowl.

Here’s a preview of the Yankees’ offseason.

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This list obviously starts with Soto, and really, his offseason is Soto or nothing. If they lose Soto in free agency, especially to the Mets, people in New York will be asking for general manager Brian Cashman’s job, whether it’s fair or not. That is simply the reality.

With Soto, the Yankees are a completely different team. This postseason, he has been their best player and for a long time he has been one of the best players in the Major Leagues. Soto, 26, hit .288/.419/.569 with 41 home runs and 109 RBIs this season. In seven career seasons, he has hit .285/.421/.532 with 201 home runs and 592 RBIs.

Signing Soto will be expensive (it will be one of the most lucrative deals in baseball history) and should generate between $500 and 600 million.

In addition to Soto, the Yankees roster will need to be significantly addressed. They have seven pending free agents and Gerrit Cole, the team’s star right-hander, has a $36 million option that could be eligible to become a free agent. Expect the Yankees to be active in addressing almost every part of the roster: first base, outfield, infield, starting pitchers and bullpen.

This will be one of the busiest, and perhaps even the most important, offseasons during Brian Cashman’s tenure. Getting this right is crucial.

They have to be. They really have to be active in exploring all avenues to improve this roster because of how it is built in 2025 and beyond.

Cashman and Co. cannot fill this roster through free agency alone. It will come internally, in the form of young players taking on key roles. It will come via free agency. And it will come through trade talks that will begin at next week’s General Manager meetings in San Antonio, Texas.

Obviously this starts with Juan Soto. After all, how could it not be? In addition to Soto, the Yankees’ other free agents include Gleyber Torres, Alex Verdugo, Clay Holmes, Tommy Kahnle, Jonathan Loasiga and Tim Hill. Cole has a $36 million player option for next season, while Luke Weaver has a $2.5 million club option and Lou Trivino has a $5 million club option.

Torres seems like the Yankees’ second priority. Torres, 27, has improved since taking over as the leadoff hitter, hitting .257/.330/.378 with a .709 OPS, 15 home runs and 63 RBIs. In his seven-year career, he is hitting .265/.334/.441 with 138 home runs and 441 RBIs. You are a candidate for the qualifying offer and may accept it. He is certainly one to watch and a player the Yankees should seriously consider bringing back.

Cole, if he decides not to participate, will be another big priority. Weaver is a player the Yankees should keep with a $2.5 million option. Kahnle, who posted a 2.11 ERA in 50 innings, should draw significant interest in free agency and is someone Cashman should try to get back.