APNewsBreak: Yankees hit with $28M luxury tax (Yahoo Sports)

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The New York Yankees were hit with a $28 million luxury tax bill, pushing their total past the $250 million mark since the penalty began in 2003. According to Major League Baseball calculations sent to teams Tuesday, the Los Angeles Dodgers are the only other team that exceeded the tax threshold this year and must pay $11.4 million. Boston finished just under the tax threshold for the second straight year, coming in $225,666 shy of the $178 million mark. Because the Yankees have been over the tax threshold at least four consecutive times, they pay at a 50 percent rate on the overage, and their $28,113,945 bill was second only to their $34.1 million payment following the 2005 season.



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