SBD/Closing Bell

Steinbrenner: Yankees Still Have Goal Of Getting Under Luxury Tax

Yankees Managing General Partner Hal Steinbrenner today said the team’s goal of getting under a $189M payroll threshold for luxury tax purposes remains intact, even after committing $238M to free agents C Brian McCann and CF Jacoby Ellsbury. Steinbrenner during this afternoon's press conference to introduce McCann said, “We’re still under and we still have money to spend. I think we can (get under that figure). It absolutely remains a goal, but not at the expense of fielding a championship-caliber club. When you don’t make the playoffs, it’s unacceptable.”

He added the club remains “a good distance apart” in negotiations with free agent 2B Robinson Cano, who could be poised to receive a contract in excess of $200M. Steinbrenner: “We’re going to keep plugging away at it until it either happens or it doesn’t.”
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