The New York Yankees have spent big bucks this off-season to build a good offense. For instance, the Yanks brought in left-hand pitcher Carlos Rodon in a massive six-year deal worth $162. However, they still have loopholes on the left field as they failed to acquire one in the free agent market. And now, the acquisition looks unlikely as the Yanks are reportedly out of funds.
The Yankees have reached the luxury tax threshold. Their limit is $293 million, whereas their spending so far stands at $290 million. Hence, the club lost its capability to acquire any new player. If this stays, it could potentially mean the Yankees will take the field without a designated left fielder. But what is this luxury tax that is stopping a giant franchise like the Yankees from spending? Let’s find out.
What Is Steve Cohen Tax That Is Circling Around The Yankees Shoulders?
The Competitive Balance Tax, known as the Steve Cohen Tax, was inducted by MLB as a part of the new CBA. Under this rule, a certain threshold amount will be set for the franchises to limit their capacity to spend in a particular off-season. If a club surpasses the threshold for the first time, it will pay an 80% tax on every dollar spent beyond the limit. Subsequently, the second-time offenders will have a 90% cut and a 110% cut for the third-time offenders.
Now, the Bombers have already been under the knife before this. Hence, if they decide to surpass the threshold, they will be held as second-time offenders and will have to give out a 90% tax on every dollar spent. Certainly, the Yankees are not willing to give out any taxes and hence refrain from any more sign-ins. But a giant franchise like the Yankees can afford to pay a certain penalty if it results in the induction of a valuable player. Well. That’s for the Bombers to figure out. For now, the front office is determined to adhere to the law and stay under the limit.
Bombers To Position Aaron Hicks In The Left Field
As it stands, the Yankees do not have a designated left fielder. After a failed attempt to retain Andrew Benintendi, the Yanks all hopes stacked on the Pirates to trade Bryan Reynolds. However, the Pirates’ ridiculously high demands stalled the trade, forcing the Bombers to move into the spring training with a hole in the left field.
Meanwhile, Yankee general manager Brian Cashman confirmed Aaron Hicks as a regular starter in the left field until they find a suitable replacement. Hicks did not have a good last season. However, the club’s left with no choice at the moment and will have to continue with Hicks for the time being. Also, the team can not rely on Hicks for the whole season, as the outfielder has a long history of injuries. Hence, they will need a left-fielder sooner or later.
