Rampant spending, selling the farm system and buying veteran players with bad deals does not work.
It can work (well, except the part about specifically buying a veteran player with a bad deal), the Yankees just aren't very good at it.I think the biggest problem with NY is that they have not placed much of a premium on defense, although that's changed a little in the last year. Matsui is terrible. Damon is terrible. Nady was terrible. Cano and Jeter were terrible. Giambi and Abreu were really terrible. As bad as Wang's been, a guy who relies on his defense as much as he does hasn't gotten much help from them.They've also done a brutal job developing players. Hocking your prospects for established vets can work, but you actually need good prospects.