New York Yankees’ managing general partner Hal Steinbrenner plans to cut payroll
The much awaited debate of cutting costs of one of the biggest baseball clubs in the Major League has started once again with full loudness bringing so many speculations with it.
The same issue had been discussed in 2011 when the top officials of the New York Yankees gathered for developing a new strategy that will eventually decreased the amount of spending and increase the flow of investments into the franchise.
Lately the managing general partner of Yankees Hal Steinbrenner came out in the media and tried to explain the formula involving payroll cuts and some other ideas which the management now planning to implement before the next season.
“I'm looking at it as a goal, but my goals are normally considered a requirement," Steinbrenner said. "Plenty of teams win without the kind of payrolls we have."
"[Paying] the luxury tax is an option," he said. "We go into it knowing exactly what we're doing. [And] being the only team that does it, I'm just not convinced we need to be as high as we've been in the past to field a championship-caliber team. I'm a finance
geek and do well. I guess I always have been," Steinbrenner said. "That's my background; budgets matter and balance sheets matter.”
Two main reasons are provoking the management to take these kinds of steps forward which involved the professional baseball players as well. First is the hefty amount of Tax that every year they have to pay to the local government and secondly the perks
of the players that are not included in their salary. Paying $13.9 million in luxury taxes last season, the Yankees are certainly in great trouble and want to decrease the increasing pressure.
On contrary to that particular facts of having too much of financial problems, the franchise itself could not do any kind of shopping this offseason. The team is pretty much the same like last year. They poor financial position was the reason why the Yankees
did not bring any good or experienced player into the roster instead relied upon the same players who tried their best to attain good results for the team last season.
Tags: