Yanks look to save money in taxes

Hal Steinbrenner, principal owner, managing general partner and co-chairman of the New York Yankees, talks with reporters at the annual MLB baseball general managers' meetings, Wednesday, Nov. 15, 2017, in Orlando, Fla. (AP Photo/John Raoux)

New York Yankees luxury tax payroll is expected to be in the ballpark of around $178 million.

Yankees owner Hal Steinbrenner has claimed intentions of falling under the 2018 tax threshold of $197 million, which will reset the base tax rate from 50% to 20% in 2019, a season where both Bryce Harper and Manny Machado are on the table of free agency. New York has paid annually each for taxes since 2003, when the tax began.

Among the seven players signed for next season, comes a total salary of $120.7 million for luxury tax purposes.
Eight Yankees players are eligible for arbitration whose salaries total approximately $30 million. Yankees can extend those arbitration eligible players a higher paying contract but that would be exactly the opposite of what the Yankees want to do.

New York’s top players Aaron Judge, Gary Sanchez and Luis Severino along with a four others are still low on the money pole only equating to $10 million.

A lot of other money comes in and out of New York.
In the block buster trade of Major League Baseball, acquiring Stanton from the Marlins didn’t just give them another mammoth home run hitter but they are paying $30 million towards Stanton over a 10-year period knocking his tax value from $25 million to $22 million. That is of course, if Stanton does not opt-out after 2020.
There is always a negative hanging over; $6 million dollars is debited from the Yankees after the trade of Brian McCann in 2016 and Chase Headley.

New York still owes $15.7 million in tax penalties for their 15th straight season, but their lowest amount since 2011.



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