For a franchise currently boasting a $200 million payroll, the Yankees have had a relatively quiet offseason. When big names and mega contracts aren't involved, it feels like a dark winter in the Bronx.

Of course, smart spending and acting frugal are two different things. For the 2015 Yankees, avoiding the deep end of the free-agent pool might turn out to be prescient. But if the team truly wants to contend for a World Series, another durable arm is needed.

If improvement without over-the-top spending is the goal, free-agent starter James Shields should be the objective.

While the team continues to shy away from the idea of entering the Max Scherzer sweepstakes—an event that could end in one of the biggest pitching contracts of all time—team owner Hal Steinbrenner didn't rule out spending more before pitchers and catchers report to Tampa next month.

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"Look, it's not over 'til it's over, OK?" Steinbrenner told Newsday during the owners meetings. "We've still got a full month until spring training and we're always going to continue to improve."

Should the Yankees pursue Shields? How much is he worth?

Watch the video above and sound off below with your thoughts in the comments section below!

Joe Giglio may be reached at jgiglio@njadvancemedia.com. Follow him on Twitter @JoeGiglioSports. Find NJ.com on Facebook.