- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)47
- Neelys Landing man shot, killed by highway patrol trooper after traffic stop (05/01/16)43
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Missouri House votes to allow concealed weapons without permits (04/28/16)8
- Police report filed, but no charges in incident at Cape Central (04/29/16)40
- 2016 All-Missourian Boys Basketball (04/29/16)
- Statement: Man says cops’ good work drove him to grow his own marijuana (05/01/16)1
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
- River Ridge Winery changes hands (05/02/16)
Yankees' luxury tax drops to $23.88 million
NEW YORK -- The New York Yankees did accomplish something this year:~ New York has paid $121.6 million in luxury tax over the past five seasons.
They lowered their luxury tax for the second straight season.
The Yankees were hit with a tax bill of $23.88 million by Major League Baseball in a notice sent to teams late Friday, pushing them over the $100 million mark since the penalty for profligate spending was introduced in 2003.
The only other club that must pay the competitive-balance tax, as it is formally known, is the World Series champion Boston Red Sox, who owe $6.06 million.
Checks are due at the commissioner's office by Jan. 31.
New York's bill is down from $26 million last year and a high of $33.98 million in 2005. In all, the Yankees have run up taxes of $121.6 million in five seasons with no World Series title to show for it.
The Yankees' tax total would have dropped even lower had they not signed Roger Clemens in midseason. The Rocket went 6-6 with a 4.18 ERA in 18 appearances, and he cost New York a $6.98 million tax increase in addition to the $17,442,637 in salary he earned.
He left Game 3 of the Yankees' first-round playoff series against Cleveland in the third inning because of an injured hamstring. New York won the game but was eliminated by the Indians the following night.
Boston will be paying tax for the fourth straight season but the bill for the Red Sox has been only a fraction of what the Yankees have paid. Boston's four-year total is $13.86 million, including just $497,549 in 2006.
The only other team to pay tax was the Angels, who owed $927,059 for 2004.
New York's payroll was $207.7 million and Boston was second at $163.1 million for luxury tax purposes, which uses the average annual values of contracts for 40-man rosters and adds benefits. Both teams pay at a 40 percent rate for the amount over the tax threshold, which rises from $148 million this year to $155 million next season.
New York figures to lower its payroll without Clemens next year -- unless the Yankees acquire Johan Santana from Minnesota and sign the two-time AL Cy Young Award winner to a big extension.