The New York Yankees could soon find themselves in tricky waters and they know it.

Leading the Boston Red Sox by just a single game in the American League East, the Yankees have unachieved this season and New York is desperate to make up some ground in order to keep its playoff hopes alive. Having already made a coaching staff change with the Aug. 1 trade deadline quickly approaching, the Yankees intend to monitor the market, as general manager Brian Cashman shared.

"We got a lot of pitching depth there but that doesn't preclude us from being open to adding starting pitching or bullpen," Cashman said Sunday, per MLB Network Radio. "We've lost some important bullpen pieces along the way to injuries or obviously suspension. So I think we'll look at the pitching side. ... We'll continue to focus on adding maybe a bat there that could be more of an established everyday offensive contributor in left field."

Aside from being hampered by injuries, whether to its pitching staff or last season's league MVP Aaron Judge, New York hasn't performed up to par. The Yankees have recorded just one winning month of baseball -- May (19-10) -- after going 14-14 in April and before going 11-12 in June, quickly plummeting themselves in the division standings.

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The Yankees entered the campaign with the second-highest payroll -- over $276 million -- in Major League Baseball, just second to the Mets, according to USA Today. Yet, that investment has yet to translate, leaving the division and potential AL wild-card spots up for grabs.

With over two months of baseball remaining, the deadline could be a key indicator to determining who will and who won't cross the finish line and secure a postseason spot for October.

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Featured image via Ron Chenoy/USA TODAY Sports Images