In a corresponding move to the Neil Walker signing, the Yankees have designated outfielder Jake Cave for assignment to make room for Walker on the 40-man roster.

The Yankees have signed INF Neil Walker to a one-year Major
League contract. To make room on the 40-man roster, the Yankees have designated OF Jake Cave for assignment.

— Yankees PR Dept. (@YankeesPR) March 12, 2018

Infielder Danny Espinosa has also been released and Kyle Holder was re-assigned to minor league camp.

The Yankees have released INF Danny Espinosa and reassigned INF Kyle Holder to minor league camp.

— Yankees PR Dept. (@YankeesPR) March 12, 2018

Cave ranked as the #20 prospect in the Yankees system accourding to Pinstriped Prospects and MLB.com had him ranked 27th.

Cave should have multiple teams trying to claim him. The left-handed hitting outfielder put together a nice 2017 season slashing .305/.351/.502 between AA Trenton and AAA Scranton/Wilkes-Barre.

Considering how crowded the Yankees outfield already is and with young outfielders on the way such as Estevan Florial and Clint Frazier, the fit for Cave was never clear.

Espinosa was already unlikely to make the club before the Walker signing and he will now have a chance to sign somewhere with more opportunity.

The fact that Espinosa was cut and not Jace Peterson means that the club will likely stash Peterson in Scranton as a depth-piece.