December 24, 200322 yr Yankees to owe MLB almost $12 million for luxury tax Dec. 24, 2003 SportsLine.com wire reports NEW YORK -- Happy Holidays, George Steinbrenner! Your New York Yankees are the only baseball team to be slapped with a luxury tax bill. Advertisement The Yankees were told by the baseball commissioner's office that they owe $11.82 million, a baseball official told the Associated Press on Wednesday under the condition of anonymity. New York's payment is due by Jan. 31. A tax rate of 17.5 percent this year means the Yankees' final payroll, for tax purposes, was $184.5 million. The other 29 teams all stayed under the tax threshold of $117 million established by baseball's new collective bargaining agreement. Commissioner Bud Selig pushed for the tax to discourage high-revenue teams from far outspending their rivals. The Yankees were told of the amount late Tuesday. "One year's experience is not sufficient to make a judgment, but we are pleased with the increase in competitive balance on the field," said Bob DuPuy, baseball's chief operating officer. Yankees president Randy Levine declined comment. New York, which won the AL pennant but lost to Florida in the World Series, had estimated its tax would be between $11 million and $12 million. Unlike regular payroll figures, the luxury tax is based on payrolls for 40-man rosters and includes about $8 million per team for benefits. In 2004, the threshold increases to $120.5 million and the tax rate goes up to 22.5 percent. New York's projected luxury tax payroll for next season is between $175 million and $180 million. The luxury tax in the new agreement, which runs through 2006, is much steeper than the one baseball had from 1997 to 1999. A total of eight teams paid tax in those three years, topped by Baltimore, which had a 1997-99 total tax of $10.6 million. The Yankees paid $9.9 million in that period and no other team paid more than $2.8 million. In addition to the tax, the Yankees project they will pay $50 million for 2003 toward baseball's revenue-sharing plan, up from $32 million the previous year. AP NEWS The Associated Press News Service Haha, the Yanks get to pay that much, thats almost as much as half of the Marlins team makes.... :lol :rofl :rofl
December 25, 200322 yr if the yankees payroll is $180 million, their tax will be ($180M - $120.5M) * 0.225 which equals $13.39 million. woop dee doo.
December 25, 200322 yr Sorry, but $12 million is just a drop in the bucket for Steinbrenner. He won't lower the payroll until it's ten times that amount a year.
December 25, 200322 yr Didn't they spend twelve million on a middle reliever this year? Or maybe it was last year.
December 25, 200322 yr Didn't they spend twelve million on a middle reliever this year? Or maybe it was last year. Heck, The Boss probably spends $12 million on toilet paper.
December 25, 200322 yr Didn't they spend twelve million on a middle reliever this year? Or maybe it was last year. Heck, The Boss probably spends $12 million on toilet paper. I do and my damn a** still itches
December 25, 200322 yr For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). 12 million. Wow, I was wrong. Baseball's financial situation is fine.
December 25, 200322 yr Author For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). 12 million. Wow, I was wrong. Baseball's financial situation is fine.
December 25, 200322 yr For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). Sorry to hear that. I'm from Rochester, NY(Red Wings) originally and know all about the Clippers. They were once a powerful minor league franchise, but as I recall that was when the Yankees sucked in the late 80's/early 90's. Beinfest4Prez Posted on Dec 25 2003, 12:20 AM This a minor league team? yes, it's the AAA team of the Yankees.
December 25, 200322 yr Author For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). Sorry to hear that. I'm from Rochester, NY(Red Wings) originally and know all about the Clippers. They were once a powerful minor league franchise, but as I recall that was when the Yankees sucked in the late 80's/early 90's. Beinfest4Prez Posted on Dec 25 2003, 12:20 AM This a minor league team? yes, it's the AAA team of the Yankees.Alright thanks for letting me in Chef..... :thumbup
December 25, 200322 yr For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). 12 million. Wow, I was wrong. Baseball's financial situation is fine.
December 27, 200322 yr I heard somewhere that after all of the Yankees recent Spending that its now 48 Mil!!?? Anyone know somethin about this?
December 28, 200322 yr 48 million is what they owe in revenue sharing this year. Many teams owe something. 'Though the luxury tax is moving up to 40% next year so Steinbrenner might owe 48 million if he has more than 200 milion in payroll. Unlikely.
December 28, 200322 yr For the record, the worst part about all these Yankees moves: It's ruining our team here (Columbus Clippers). Nobody cares about them anymore, because everyone here hates the Yankees and due to the way they pimp out their system they pretty much suck. Attendance has dropped something like 45% in the last 3 years (that could be an exaggeration, but it's not pretty). 12 million. Wow, I was wrong. Baseball's financial situation is fine.
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