Most ball clubs would shudder at the thought of paying an $18 million tax on top of their payroll, but for Brian Cashman and the Yankees, that figure is refreshingly low. For luxury-tax purposes, the Yankees payroll came in at $215.1 million last year, down from $226.2 million the previous year, when they were hit with a $25.7 million tax bill. (The Yankees pay a 40 percent tax over the threshold, which rose from $162 million to $170 million.) The $18 million they owe is the lowest such figure since 2003.
Brian Cashman sure liked the news. Via the AP:
"Atta baby. And right now we're in the $170s," Yankees general manager Brian Cashman said, looking ahead to his 2011 payroll.
Of course, Cashman would have preferred that 2011 figure include a fat contract for Cliff Lee. But in any case, the Yankees have now been hit with $192.2 million in taxes since the current tax began in 2003. The only other team to get a bill this year? The Red Sox, who owe $1.49 million.
Yankees hit with $18M luxury tax [AP via ESPN New York]