The New York Yankees and all the other MLB teams can’t make any major league transactions due to the lockout caused by the failure to come to a new agreement with the players union. The old Collective Bargaining Agreement ended on December 1st without a new agreement. As a result, Commissioner Rob Manfred immediately instituted the lockout putting everything on hold, preventing the Yankees from filling their many needs that include a new shortstop, number two pitcher, help in center field, and a new first baseman.
But, that lockout does not affect minor league transactions and other business, like acquiring coaches.