Let's look at what it means and what is next.
1. It's a talent upgrade. Forgetting the ethics of acquiring Chapman, the Yankees have slyly added to the talent level in their organization. This offseason, they dealt four middling prospects for a discounted Chapman.
For those four prospects, the Yankees have now, in turn, received half a season of Chapman, Starlin Castro (acquired by sending Warren to the Cubs), Warren, Torres, minor league outfielder Billy McKinney and a yet-to-be-identified player. In theory, that's a very good haul.
2. Post-Derek Jeter, the Yankees are deep at shortstop. Torres is a 19-year-old shortstop whom ESPN's Keith Law recently rated as his 26th-best prospect in baseball. The 6-foot-1, 175-pound right-handed hitter was batting .276 in Class A. The Venezuelan joins Didi Gregorius, Jorge Mateo and others as talented shortstops. Post-Jeter, shortstop is becoming the deepest position in the Yankees organization.
But how many shortstops can the Yankees play at once? First off, Mateo and Torres are probably years away from the majors. Second, the most important provider for the Yankees' farm system is trade value. They need to have chips so that when someone like Chris Sale becomes available, they can go all-in to acquire him.
3. Warren has been recommissioned. Warren wasn't very good for the Cubs, but for the Yankees he could be the seventh-inning guy. The Yankees were 66-3 when leading after six innings last year. This year, they are 36-3. In other words, losing Chapman hurts them more in style than substance.
4. They shouldn't be done dealing. If the Yankees are smart, they will continue to get deeper, giving them more leverage in trades and in courting future free agents. Perhaps, too, some of these guys will become every-day Yankees.
Along those lines, Brian Cashman is going to continue to engage the trade market. As my colleague Wallace Matthews reported a week or so ago, the baseball people know they should sell.
The Yankees should deal free agent-to-be Carlos Beltran and see what the rest of their under-contract players can bring. Future championships can be won this time of year. With the Yankees' financial might, they have a golden ticket for their future. If they squander it by going after the second wild card, it probably will be a mistake.
5. Sale is now an option. It was speculation, but the Post's Joel Sherman brought up the idea of flipping some of these shortstop prospects and other top Yankees minor leaguers in a deal for Sale. This is why you gather all the talent you can: so you can be in play for players in their prime who can make a difference.
Sale, 27, is a perfect reload/rebuild move for the Yankees. Plus, the Yankees never change their uniforms.
6. Now it's a game of wait-and-see. The Yankees may weigh how they do this week against the Astros and Rays (they face the Mets next Monday on deadline day) before deciding whether to be sellers. This is fine, but it will be a mistake if this Chapman trade is all the Yankees do.
If the Yankees don't continue to deepen their farm system, they could become too reliant on overpaying in free agency and continue on the wild-card contention wheel. The Yankees need to build toward championship No. 28, not just pray on a one-game crapshoot.