Or they might let him fend for himself like they did to Michael Pineda.
The Yankees have less cap space before the luxury tax in 2020 than the Red Sox do, per sportsrac, at $41.3million. And upcoming arbitration cases for Sanchez, Judge, Paxton, Kahnle, Green, and Montgomery. That should eat all of the $41mill, and possibly go over I assume Greg Bird will get non-tendered.
Even if they go over the $208million threshold, and I expect them to, Betances would become a luxury tax penalty that may not even contribute at all...