Over the last few seasons, Hal Steinbrenner hinted the Yankees had planned to shed the money from payroll.
So it was no surprise to Steinbrenner that the Yankees were no longer one of the top two teams with the highest payroll in baseball.
According to the Associated Press, the Yankees now have the third highest payroll at roughly $196.3 million behind the Los Angeles Dodgers ($225 Million) and the Detroit Tigers ($199.75 Million). It’s the first time since 1993 that the Yankees don’t have the top two payrolls in baseball.
“We have more money coming off this year, and as always we will put money back into the team in areas we feel we need to,’’ Hal Steinbrenner wrote to the New York Post on Tuesday afternoon. “It will also, however, give us the opportunity to bring payroll down closer to or below the [luxury-tax] threshold ($197 million next year; $2 million higher than this season) should we decide to.’’
The Yankees are slated to shed $64.9 Million from the payroll following the 2017 season after Alex Rodriguez, CC Sabathia, and Matt Holliday come off the books. With that, the Yankees might have enough money to once again invest in the free agent market. Last season when the team acquired Aroldis Chapman for a five-year, $86 Million deal.