This, even in other sports it doesn't always work out. Outside of the Celtics, no NBA won a title in their first year after spending big (for the Heat, it was their second season). Other teams that spent big in the NBA are the Lakers, and look how that is turning out. Same with the NFL. The Eagles, Cowboys, and Chiefs all spent big in free agency and look at their seasons this year.
This and a few follow-ups
First the one early poster who noted that we won 4 out of 5 when had homegrown talent is dead right. Its very hard to buy a championship and impossible to buy multiple championships, you need to build within. When you have a homegrown core you can build a dynasty. But in baseball even that is hard (take a look at the Braves who were more or less as successful as the Yankees during their run, that is except in October). That Braves team should have won at least three world series, they got one (thanks large in part to Jim Leyritz and Jack Morris). Sometimes you just need special players.
On the point here, the NBA is actually the only sport I know where you can buy a ring. Working within the NBA is navigating through the cap. In the NBA one player can make you a contender. Look at Cleveland. They lost LeBron and they are bottom feeders. Miami went out and purchased Lebron,Wade and Bosch and they have a two championship appearance and a win. Its all about math, Baseball, football, and to a lesser extent Hockey require many different pieces, the NBA you play 5, and you can play those same five for 70% of the game.
Another poster said moneyball is not signing a guy to a 1 year 13 million. I agree if you are playing Billy Beane Money ball...but he doesn't own the only play on those words. If you are the Yankees you live in a different universe as Oakland when it comes to how you spend, but the concept is dollars and sense.
The Yankees made decisions in 2007 and 2008 that affected 2009. In those moves the only bad one was not resigning A-rod but for doing so at 10/270 when the most he would have gotten from anyone was 200 million. After his little stunt (with Boras advising him) 8/27 would have been enough (216 million overall). The real shame of it all, is that by A-rod Opting out he cost us by allowing Texas to have the extra cash to get Lee. Texas was paying a chunk of A-rods contract (makes you think if he was overpaid in 2004 why would he not be when he was 4 years older). Would have loved to get A-Rod off the books in 2016, but that won't happen. The only real hope is that by 2016 he is somewhat productive (e.g. 140 Games 25HR 80RBI 75 Runs .250ish, and chasing some HR numbers). If this happens we might be able to move him to Florida where he could put some fans in the seats over there while we dump 40% of his contract for that last year or two). Of course he needs to stay health to do that a problem he has had for almost the entire contract extension.
My hope is obviously that this team is playoff bound and the veteran leadership can pull out another one. BUT if that doesn't happen, I hope for the opposite, which is the team just falls out of contention fast. With that I would hope the Yankees trade Cano to a contender. Cano will be 31 next year he has likely 3 good seasons left before decline will set in. If Cano can net the Yankees an organization's best and fifth best player, along with a first round draft pick (albeit late) this would be a great way to rebuild. Unlike most teams Yankee Rebuilding can happen rapidly, because the Yankees have money. All the Yankees need is for Pineida, one of the Yankees young pitchers to show life, along with some talent for Cano, and the Yankees can enter the free agent market again. The thing I don't want is the Yankees to band aid up the team and take on bad contracts, and stay medicore. This has been a great run - from 1996-2012, 17 years this team has won five word series appeared in seven, they have also won over a dozen division championships. If they don't make the playoffs in 2013 and 2014, but come back in 2015 with an exciting group of young players through some good trades, they will have the ability to get right back in the mix in 2016. Alternatively if they pile on long-term old players it will be a long long time till we hang up another world series banner.