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Cashman: Trade more likely than big signing

Cashman spoke between rappels down the side of Stamford's 22-story Landmark Building, joined by MLB.com correspondent Lindsay Berra, FOX 5 sports anchor Duke Castiglione and FOX News meteorologist Rick Reichmuth as they prepared for Sunday's "Heights and Lights" winter celebration.

Brian Cashman wears a Santa hat while practicing rappelling on a 22-story building in Stamford, Conn., before the Heights & Lights program

The Yankees would like to upgrade their roster in the starting pitching, bullpen and second base departments, but Cashman said that the club's financial limits are "significant" as it rides out long-term commitments to veterans like Carlos Beltran, Alex Rodriguez, CC Sabathia and Mark Teixeira.