Yankees Hit With $18M Luxury Tax Bill

by FanHouse Staff

Filed under: Red Sox, Yankees, Sports Business and Media

The Yankees didn't win it all in 2010 but they remained baseball's standard-bearer when it comes to spending.

New York owes $18 million in luxury tax, one of only two teams pushed into the red this year by its massive payroll. The other, naturally, was the Red Sox -- but Boston owes only $1.5 million according to figures obtained Tuesday by The Associated Press

As gaudy as the Yankees' luxury tax figure is, it actually represents their lowest penalty since 2003. They paid $25.7 million in 2009 and were the only franchise to owe money last year.

 

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