Yankees To Pay $29.1M Luxury Tax Bill
According to Bob Nightengale of USA Today, the Yankees are looking at a record $29.1 million luxury tax bill after the season. That is based on a $236.2 million payroll. New York is taxed 50-percent on every dollar over the $178 million luxury tax threshold.
The luxury tax is calculated using end-of-season payroll, so that $236.2 million number could still change over the next few weeks based on trades and call-ups/send-downs. New York took on another few hundred thousand dollars by acquiring Brendan Ryan on Tuesday, for example.
Yankees ownership has made it no secret that they intend to get under the luxury tax threshold — which increases to $189 million in 2014 — next year and beyond. That would not only save them the luxury tax bill itself, but it also comes with revenue sharing rebates as well.
Read more on CBS Sports.
Tags: New York Yankees