N.Y. Yankees Owe $18.9 Million in Baseball Luxury Tax, AP Says
The New York Yankees owe $18.9 million in Major League Baseball’s luxury tax after finishing the 2012 season with a MLB-high $222.5 million payroll, the Associated Press reported.
It is the 10th consecutive year the Yankees will pay the luxury tax, AP said, with a cumulative bill of $224.2 million over that decade.
Yankees spokesman Jason Zillo didn’t immediately respond to an e-mail seeking comment on the report.
The luxury tax is used by MLB as part of an effort to ensure competitive balance among teams by preventing high-salary clubs from signing most of the top players.
The 2012 figures were sent by MLB to teams two days ago, AP said.
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