Offseason
- December 14, 1960: Bob Cerv was drafted from the Yankees by the Los Angeles Angels in the 1960 MLB expansion draft. The Yankees re-acquired Cerv by trading Andy Carey to the Angels in May 1961.
- January 16, 1961: Mickey Mantle became the highest-paid baseball player by signing a $75,000 contract.
- Prior to 1961 season: Art López was signed as an amateur free agent by the Yankees.
- Prior to 1961 season: Ole Miss Rebels football quarterback Jake Gibbs was signed as an amateur free agent by the Yankees.
Read more about this topic: 1961 New York Yankees Season