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Yankees must pay luxury tax for 10th straight year

The Sports Xchange

The New York Yankees' $222.5 million payroll for 2012 has resulted in the American League team having to pay Major League Baseball's luxury tax for the 10th straight year.

On Thursday, the Yankees received a bill to the tune of $18.9 million, as reported by multiple outlets citing an AP report. For the 10 years, the Yankees have paid more than $224 million in luxury taxes.

No other team exceed the $178 million threshold in 2012.

The Red Sox paid a luxury tax the past two years. But after their housecleaning involving the Dodgers, Boston fell just $47,177 short of this year's threshold, NBC Sports said.

The luxury tax is used by MLB as part of an effort to ensure competitive balance among teams by preventing high-salary clubs from signing most of the top players.

Copyright (C) 2012 The Sports Xchange. All Rights Reserved.


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