After the New York Yankees failed in their last-ditch bid to sign Blake Snell, Jordan Montgomery will likely be the fallback option and an MLB insider explained what the likely cost will be and why the team needs to bring back the Pinstripes veteran.

Earlier this week, the San Francisco Giants made what will probably be the last big splash in MLB free agency before Opening Day when they signed Blake Snell. The move was the type of impact addition they have been unable to make over the last couple of years and one of the rare times they beat out the Yankees for a top free agent.

On Wednesday, New York Post MLB insider Jon Heyman wrote about the team’s final attempts to sign the 2023 NL Cy Young recently and why they need to pivot to Montgomery, a pitcher who played his first five seasons in the league as a Yankee. In his opinion, the 31-year-old could actually be a better fit than Snell for six specific reasons.

To Heyman, Jordan Montgomery is more durable, is younger, has been better in the playoffs, will come at a cheaper rate, there is no draft compensation attached to his signing, and lastly — and maybe most importantly — he has had success in the tough NYC market.

The main reason the New York Yankees failed to sign Snell was because his contract would send them well over the next salary cap threshold. While Montgomery won’t come cheap, Heyman revealed that the asking price the pitcher’s reps are looking for is lower and similar to the seven years and $172 million the Phillies gave Aaron Nola several months ago.

• Jordan Montgomery contract projection: 7 years, $165 million

However, Philadelphia had a strong relationship that made them willing to give up that type of money. Montgomery does not have that sort of bond, even with the Rangers, that could lead to some mild overpaying. That’s why a potential deal with the Yankees more likely might be something in the range of seven years and $160 to $165 million.