Report: Yanks face record luxury tax
The New York Yankees will have to pay a record $29.1 million luxury tax penalty this season, USA Today reports.
Putting it into perspective, the newspaper notes that sum is about the equivalent of the entire Houston Astros’ payroll for this season. The Yankees’ 2013 payroll is estimated to be $236.2 million, well above the $178 million tax threshold.
Alex Rodriguez, Vernon Wells, Mark Teixeira and CC Sabathia each will earn more than $20 million this season, while Derek Jeter, Robinson Cano, Curtis Granderson, Hiroki Kuroda, Andy Pettitte, Kevin Youkilis and Mariano Rivera are owed at least $10 million each.
The Yankees are the only team that has paid a luxury tax in each season since its implementation 10 years ago, USA Today reports. The total bill will exceed $250 million after this season.
The only other team facing a luxury-tax penalty for the 2013 season is the Los Angeles Dodgers, who will owe roughly $9.9 million, according to USA Today. The Dodgers’ overall payroll is $234.5 million.