Wednesday, September 11, 2013

Yankees To Pay $29.1M In Luxury Tax Penalties In '13

"Cut Payroll NOW!"

The New York Yankees set a major league record today but not one they probably wanted to be a part of as they set the new record for the highest luxury tax payment. The Yankees got slapped with a $29,100,000 luxury tax penalty this season after once again leading all of the major leagues in payroll with a $236,200,000 budget this season. The Los Angeles Dodgers are the only other team to be stuck with the luxury tax penalty with a $9,900,000 payment.

These numbers are not set in stone as the numbers are calculated after the season so if the Yankees acquire or call up any more players this number is likely to go up. The Yankees are taxed 50% on every dollar spent over the $178,000,000 luxury tax threshold for 2013. All told since 2003 when this was implemented the Yankees have paid, using the $29.1M number which is subject to chance, just over $253,000,000 in penalties while the rest of baseball combined have paid somewhere around $32,000,000. Hey Pittsburgh, Tampa, Miami, Kansas City, etc.. you're welcome!

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Sorry for the Capatcha... Blame the Russians :)