NEW YORK (CBSNewYork) — Hal Steinbrenner is keeping an eye on the New York Yankees’ bottom line.

But it seems he’d still be willing to flash some cash if the right opportunity comes along.

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“It’s not over until it’s over. We still have a full month before spring training,” Steinbrenner, the Yankees’ managing general partner, said Wednesday from Major League Baseball’s owners meetings in Arizona, according to the team’s official website. “We’re always going to continue to improve. I’m not putting a cap on it. We’ve certainly filled some holes that we had. We’ll keep going for the next few weeks.”

General manager Brian Cashman has been busy this offseason, though his biggest splash has come in the form of lefty reliever Andrew Miller. Cashman also re-signed Stephen Drew, Chase Headley, Chris Capuano and Chris Young, and traded for shortstop Didi Gregorius.

After spending nearly $500 million last winter, Cashman and team president Randy Levine have virtually shut the door on adding another big-time contract.

“We know what the fans expect. We know what the town expects,” Steinbrenner said. “We’re not going to be afraid to spend money.”

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Free-agent aces Max Scherzer and James Shields are two names that come to mind if Steinbrenner, whose stated goal has been to reduce payroll, gives his front office the go-ahead to spend.

Steinbrenner acknowledged the Yankees, with a renewed focus on the farm system, will be gaining some financial flexibility “two or three years” down the line.

“We started out with a payroll that was already high before we did anything,” Steinbrenner said. “We had a certain amount of dollars to work with, and I think Cash did a great job. There’s just a certain amount I’m going to go. You all know my opinions about payroll — where you should be and really where you don’t need to be to win championships.”

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