The New York Yankees were unsuccessful in their attempt to re-sign Juan Soto in free agency, a pursuit which ultimately cost them the opportunity to potentially lure Blake Snell to the Bronx.

Yankees GM Brian Cashman spoke to reporters at the winter meetings and acknowledged Snell’s five-year, $182 million deal with the Los Angeles Dodgers. He explained that the deal came together quickly and that New York was unable to submit a bid for the left-hander until they had an idea of what Soto was going to do.

“I told him I can’t make an offer until I know what’s going on with Soto first because I couldn’t do both at that level,” Cashman said of his conversation with Snell’s agent Scott Boras, who also represents Soto.

Soto ultimately chose to swap allegiances and join the Mets, agreeing to a 15-year, $765 million deal, the richest in sports history. Reports say the Yankees submitted a bid worth $760 million over 16 seasons for Soto, but he turned them down. Had he been willing to return to the Yankees, the team would likely have been out on Snell.

While New York was still honed in on Soto, the Dodgers moved quickly to sign Snell and bolster their pitching rotation.