As the winter meetings begin, the Yankees are looking to fill significant holes at catcher and right field.

Russell Martin has signed with the Pirates and Nick Swisher is expected to leave as a free agent looking for more than New York is willing to give him.

The Yankees are trying to get under the $189 million luxury tax threshold before the 2014 season, but Brian Cashman warns that the team can still make headlines.

"We are still capable of a lot. People should be leery of us and afraid of us," Cashman said. "If we can strike and pounce on something that makes a lot of sense for us … just stay tuned."