Schmidt signed a one-year, $2 million contract with the Yankees on Thursday to avoid arbitration, Joel Sherman of the New York Post reports.
Schmidt got his first substantial chance as a starter in the majors last season, and he posted an uninspiring 4.64 ERA and 1.35 WHIP across 159 frames. His primary problem was the long ball (1.4 HR/9), though he managed a decent 14.8 K-BB%. That suggests there's some chance for him to see improved results in 2024, assuming he can stick in the rotation.