Associated Press: Yankees’ luxury tax for 2017 is $15.7M
Yankees general manager Brian Cashman is hopeful he will have enough money to chase top free agents next winter. Credit: Kathleen Malone-Van Dyke
The Yankees will pay a luxury tax bill for the 15th straight season, according to the Associated Press. But the team hopes to end that streak in 2018 in an effort to reset for next winter’s huge free-agent class.
The Yankees, who will have to fork over $15.7 million for 2017, have paid a staggering $341 million since the tax began.
But even after the acquisition of Giancarlo Stanton, the Yankees are on pace to have a payroll under the tax threshold of $197 million for 2018. If they manage that, the Yankees will see their luxury-tax rate for the 2019 season go down from 50 percent to 20 percent, which should free up money for what is shaping up as one of the top free-agent classes ever.
Manny Machado, Bryce Harper, Josh Donaldson, Daniel Murphy, Dallas Keuchel, Andrew Miller and possibly Clayton Kershaw (if he opts out) are among the players who are scheduled to flood the market after next season.
The Yankees also are monitoring the trade market for Machado should the Orioles decide to deal the mega-talented third baseman.
Four other teams will have to pay the luxury tax, according to the AP: the Dodgers ($36.2 million), Giants ($4.1 million), Tigers ($3.7 million) and Nationals ($1.4 million).
Anthony Rieber covers baseball, as well as the NFL, NBA and NHL. He has worked at Newsday since Aug. 31, 1998, and has been in his current position since July 5, 2004.
