December 14, 2012 - 3:15 PM
NEW YORK, N.Y. - The New York Yankees have been hit with an $18.9 million luxury tax by Major League Baseball, the 10th consecutive year they will pay a penalty for their spending.
The Yankees finished with a $222.5 million payroll for purposes of the tax, according to figures sent to teams Thursday and obtained by The Associated Press.
Following its payroll-shedding trade with the Los Angeles Dodgers last summer, Boston finished just $47,177 under the $178 million threshold. The Los Angeles Angels wound up at $176.7 million and Philadelphia at $174.5 million.
Figures include average annual values of contracts for players on 40-man rosters, adjustments for cash in trades and $10.8 million per team in benefits.
New York has run up a luxury tax bill of $224.2 million over the past decade.
News from © The Associated Press, 2012