Recently, New York Yankees general managing partner Hal Steinbrenner told reporters that he will look to scale the payroll back under the luxury tax level of $189 million by the 2014 season. The Yankees, who are notoriously known for spending big nearly offseason, were relatively quiet this offseason with just few a minor additions to the club.
When asked about the comments on Friday, Red Sox principle owner John Henry, a fellow big spender, didn't seem to shocked by Steinbrenner's comments about his plan for payroll reduction.
"I think both clubs, the way things are structured now, had to look at your payroll. No doubt about that," said Henry. (WEEI)
The new CBA calls for increased penalties for teams who choose to go over the luxury tax threshold. Teams such as the Red Sox and the Yankees could have to pay a luxury tax of up to 50 percent. However, every year a teams like the Sox and Yanks go below the threshold, their tax is reset to 17.5 percent.