Yankees Pay tax for the Luxury
By lefty
For the second year in a row, the New York Yankees will be paying MLB a luxury tax for their obscene 2004 payroll of $187.9 million. The "competitive-balance tax" was established in 2003 by MLB as an attempt to keep the league competitive. Last year the Yankees were the only team to have to pay the tax, shelling out $11.7 million. This year they will have to pay $25,026,352.
However, this year the Yankees are not alone. The Boston Red Sox will have to pay $3,155,234 for exceeding the payroll threshold of $120.5 million and Anaheim will have to fork over $927,059.
Click here to read an AP story by Ronald Blum on this subject.
