The New York Yankees had the third-highest luxury tax in baseball for the 2024 season, placing them a distant third behind the World Series champion Los Angeles Dodgers and New York Mets.
According to Bob Nightengale of USA Today, the Yankees’ bill was $62.5 million, compared to his final salary of $316.19 million.
This was part of an MLB record total of $311.31 million in luxury tax fines paid by nine teams. The Dodgers, who defeated the Yankees in the 2024 World Series, paid him $103,016,000 compared to his annual salary of $353,015,000. The Mets paid him $97.116 million for an annual salary of $347.650.
This tax burden is why Yankees owner and managing partner Hal Steinbrenner has said he wants to keep his 2025 salary below the luxury tax threshold of $301 million.
This leaves the Yankees with less than $50 million to spend the rest of the offseason to stay within their budget. With the additions of Max Fayed and Cody Bellinger, the Yankees’ projected salary for 26 players on Opening Day 2025 is now $261,914,047, and their projected competitive income tax salary for 40 players is $283,398, according to the Cotts contract. That’s $2,334.
Additionally, the Phillies ($14.35 million), Atlanta Braves ($14.03 million), Texas Rangers ($10.807 million), and Houston Astros ($10.807 million) paid taxes for exceeding the luxury threshold in the 2024 season. San Francisco Giants ($2.42 million), Chicago Cubs ($570,309),
All teams made the playoffs except the Rangers, Cubs, and Giants.
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