The Yankees might be looking into the free agent market for pitching (although they have publicly stated that they’re not fans of the starting pitching in the market this offseason). According to Jon Heyman of CBS Sports, the Yankees have shown a slight interest in ex-Twin Mike Pelfrey. If the Yankees signed Pelfrey, he would probably be a #4 starter with the fifth spot being an in organization competition.
With the Twins in 2013, Pelfrey had a 5.19 ERA in 152.2 innings. However, Pelfrey was coming off of Tommy John Surgery. Before the elbow surgery, Pelfrey had a 3.66 ERA in 204 innings for the New York Mets in 2010.
I’m pretty sure the Yankees are checking in as a back-up plan. If you’re any team, it never hurts just to ask around.