Yankees still willing to spend
NEW YORK — Yankees owner Hal Steinbrenner would consider boosting payroll above the third luxury tax level in an effort to help New York win its first World Series in a decade.
Despite placing 20 players on the injured list and matching last season’s total, the Yankees lead the AL East as the season approaches the halfway point. New York already has added AL home run leader Edwin Encarnacion.
“I’m really proud of the guys,” Steinbrenner said Wednesday at the major league owners meetings. “We don’t like to complain about injuries, but it’s just a fact that this has been a season to remember when it comes to ILs and injuries, and a lot of these young kids have come up and taken advantage of the opportunity that was given to them.”
New York in 2018 dropped below the luxury tax threshold for the first time since the restraint on spending started in 2003, resetting the team’s tax rates to lower levels. The Yankees started the season with a $225.9 million payroll for purposes of the tax, well over the $206 million initial threshold and on track to pay just under $4 million.
Last weekend’s acquisition of Encarnacion added $3 million to the 2019 tax payroll, which will finish above the $226 million threshold, when the tax rate becomes 30 percent. If the Yankees go above $246 million, the rate would rise to 50 percent and New York’s top amateur draft pick next year would be pushed back 10 places.
