Any discussion of the Yankees chasing Rafael Soriano might be premature. Buster Olney says the Yankees are only interested in Soriano if he becomes “absurdly cheap.”  They’re not willing to overspend on a setup man.
That’s generally been Brian Cashman’s approach for three or four years. The Yankees themselves have made mistakes by overspending on setup men in the past, and the past three years they’ve proven that role that can be addressed midseason if necessary.
As for the will they, won’t they surrounding Soriano, this is the difficulty of following and covering the Yankees this offseason: Since Cliff Lee came off the board, no clear target has emerged. The Yankees have been connected to several players because Cashman has been in touch with several players, but there’s no reason to believe they’re aggressively chasing any of these names.
Cashman will keep his finger on the pulse of the free agent market — and there’s little doubt he’ll make another move or two at some point — but the only free agent who perfectly fits the Yankees needs is the guy who can’t decide whether he wants to play.