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Yankees Plan To Lower Payroll Under Luxury Tax Threshold

New York Yankees managing general partner Hal Steinbrenner told reporters today he plans to lower the team's payroll under $189 million in the next couple of years. The new Major League Baseball collective bargaining agreement states the luxury tax threshold will be at $189 million after the 2013 season. By lowering their payroll below the threshold, the Yankees won't be needing to pay luxury tax and will asked to throw in less money into revenue sharing.

"Is it a requirement with baseball that we hit 189? No, it's not a requirement, but that is going to be the luxury tax threshold and that's where I want to be," Steinbrenner said on Thursday. "I don't think it's an unrealistic goal. My goals are normally considered a requirement."

The Yankees have a pretty good farm system with players that should be able to contribute to the club in the long term, specifically with the pitching staff. But they also have some players at the tail end of their contracts in Robinson Cano and Curtis Granderson. If the team is looking to save some money, they'll be restricted in what they can do in free agency in the coming years and of course, extending their own players.

Looking at the Yankees payroll numbers, they'll be paying $73.411 million to Mark Teixeira, CC Sabathia and Alex Rodriguez in the 2014 season. Curtis Granderson and Robinson Cano will be entering their final year with the team in 2013 as well.