Loading ...The New York Yankees have been hit with a luxury tax of $18.9 million by Major League Baseball, after finishing the season with the highest payroll in the league.
The Yankees finished the season with a $222.5 million payroll, as reported by The Associated Press. Payroll figures for tax purposes include salaries on each team's 40-man roster, cash acquired or paid in trades, and $10.8 million per team in benefits.
This is the 10th consecutive year the Yankees will pay for spending too much. However, the Yankees are focused on lowering the team's payroll under $189 million by 2014 to avoid the luxury tax threshold and receive a return.
Notable teams who came close to the 2012 tax threshold of $178 million are the Los Angeles Angels, with a payroll of $176.7 million, and the Philadelphia Phillies, with a payroll of $174.5 million.
The Yankees have paid roughly $224.2 million in luxury taxes in the past 10 years.
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