How will the Yankees bullpen shake out in 2015?

The new year started with a relatively minor deal that could have a big impact on the New York Yankees bullpen in 2015. On Thursday, general manager Brian Cashman sent former top prospect Manny Banuelos, who fell to No. 9 in the organization this offseason, to the Atlanta Braves for relievers David Carpenter and Chasen Shreve.

It’s the latest in a string of transactions centering around the Yankees bullpen, which will obviously have a new look and a different structure after 2014 closer David Robertson bolted to the Chicago White Sox in free agency. It comes just three days after Cashman traded Shawn Kelley, another key member of the bullpen the past two seasons, to the San Diego Padres.

Along with David Phelps, who split time between the rotation and bullpen, those are the notable subtractions from a bullpen that ranked 19th in MLB with a 3.70 ERA. Cashman has also been adding bullpen arms to the mix. In early December, he signed coveted free agent Andrew Miller to a four-year deal, while adding another left-hander Justin Wilson in a trade with Pittsburgh.

That’s a lot of movement, but that’s not necessarily unusual in MLB. Given the unpredictability of relievers as a whole, building a bullpen is a year to year endeavor. However, it’s more notable in this case because it’s the Yankees for one, but also because they’ve enjoyed unparalleled stability in the late innings during the Mariano Rivera era. We’re just not used to the entire structure of their bullpen being in some question entering a new calender year, and it makes for some intrigue.

At this point, it’s expected that Dellin Betances, the 26-year-old right-hander who posted historically dominant numbers during his rookie campaign, will slide into the closer’s role. Though he only has one save to his credit in nine major league seasons, Miller is another candidate to close coming off a career bests in ERA (2.02), FIP (1.13) and strikeouts per nine innings (14.9) in 2014.

With those two in place, the Yankees should be set in the late innings. Now the question turns to how will Joe Girardi bridge the gap from his starters — another area the Yankees have big questions — to those power arms.

Carpenter, a 29-year-old right-hander who set up for Craig Kimbrel in Atlanta, could be the key. In 65 appearances last season, Carpenter posted 3.54 ERA and three saves over 61 innings. Solid numbers, but Cashman is likely looking for something closer to Carpenter’s 2013. In 56 appearances, his ERA was a sparkling 1.78 in 65.2 innings. That points to a higher ceiling, and as a first-time arbitration-eligible pitcher, he seems like a good addition all around.

If Carpenter can be that sixth-seventh inning guy, life will be much easier for Girardi. It would allow Justin Wilson, a left-hander who’s actually fared better right-hander batters, and the returning Adam Warren to be matched up in key spots. It would also make it less urgent for one of Andrew Bailey or Esmil Rogers to emerge and fill important roles.

Both could still be an intriguing options though. Especially Bailey and his career 89 saves. He’ll be in camp on a minor-league deal, but the question is whether or not his arm will hold up. He hasn’t pitched in the big league since 2013, and has made only 49 dating back to 2011. He most recently underwent shoulder capsule surgery.

On paper, it looks like Cashman has a bullpen that could easily improve even after losing Robertson. Of course, that’s mostly based on recent history, upside and the same hope all teams share that one unexpected source of production will step up, none of which are guaranteed. Still, getting the pieces in place is the first step, and Cashman has done quite well on that front.

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Mark Townsend is a writer for Big League Stew on Yahoo Sports. Have a tip? Email him at [email protected] or follow him on Twitter! Follow @Townie813