Cashman to return to Yankees

Sep 30, 2008 - 9:21 PM BRONX, New York (Ticker) -- Although they will not participate in the postseason for the first time since 1993, the New York Yankees will give Brian Cashman another chance.

The Yankees announced Tuesday that Cashman will remain in his role as the team's general manager and senior vice president through the 2011 season.

The Yankees did not specify whether Cashman signed a contract extension or received a new deal. Financial terms were not disclosed.

Cashman, whose previous contract was set to expire on October 31, has been the Yankees' general manager for the past 11 seasons. New York has won three World Series championships and have reached the Fall Classic five times over that span.

But the Yankees finished a disappointing third in the American League East Division this season, ending their league-record streak of 13 consecutive postseason appearances.

"I consider coming off a season where we didn't reach the playoffs for the first time since 1993 as a personal challenge," Cashman said in a statement. "I've never been one to run from a challenge, and I look forward to having the chance to go after this thing again."

New York's shortcomings this season led many to believe that Cashman would not be back with the Yankees in 2009.

However, Cashman received a vote of confidence from Yankees co-chairmen Hank and Hal Steinbrenner, who made the decision Tuesday in an effort to jump-start what likely will be a turbulent offseason in the Bronx.

Hank and Hal Steinbrenner, the sons of Yankees principle owner George Steinbrenner, praised Cashman in a joint statement released by the team.

"Holding the position of general manager for any major league team is a challenge," the statement said. "But to do so in the great city of New York, where baseball is passionately followed 12 months a year, you must possess a number of unique attributes.

"Brian has shown throughout his Yankees career that he has the dedication, integrity and know-how needed to perform - and succeed - in this environment. Having him in place allows us to begin an offseason of hard work, and we are pleased he will be working hand-in-hand with us to bring the New York Yankees back to the postseason."

The Yankees have scheduled a news conference for 11 a.m. EDT Wednesday, when Cashman will address the media.

Cashman certainly will have to answer numerous questions about the underachieving Yankees, who went 89-73 despite having a star-studded roster with a payroll well over $200 million.

The Yankees were plagued by long-term injuries to important players such as third baseman Alex Rodriguez, catcher Jorge Posada, ace Chien-Ming Wang, slugger Hideki Matsui and young pitchers Joba Chamberlain and Phil Hughes.

But New York also saw several of its position players, including Rodriguez, Derek Jeter, Jason Giambi and Robinson Cano, endure extended slumps at the plate.

The lack of offense along with a thin starting rotation resulted in the Yankees chasing the rival Boston Red Sox and the first-place Tampa Bay Rays in the AL East Division standings throughout this past season.

Cashman received major criticism this year for opting against trading young players, including Hughes, in a potential offseason deal for two-time Cy Young Award winner Johan Santana.

While the Yankees' youngsters flopped, Santana was outstanding with the cross-town New York Mets, who parted with several prospects to acquire the lefthander from the Minnesota Twins.