New York Yankees currently possess the third highest payroll in the league ($312 million), behind the LA Dodgers and New York Mets. Despite owner Hal Steinbrenner’s cry for maintaining the luxury tax threshold, the team once again ended up paying penalty taxes for exceeding $300 million payroll.
That being said, ahead of the next off-season, where New York Yankees are aiming to extend generational star Juan Soto for $500 million, Hal Steinbrenner has voiced his concerns on the soaring payroll and how he is against the idea of building a $300 million roster. So will the Yanks sacrifice Soto next off-season?
Hal Steinbrenner Committed To Lower Yankees Payroll Next Season
Earlier this month, the New York Yankees owner Hal Steinbrenner confirmed that he is luring generational star Juan Soto into signing an extension contract mid-season. However, after Soto expressed mutual interest, the managing partner changed his tone. In a recent interview with YES Network, Steinbrenner said that the club’s current patter of having payroll exceeding $300 million is unsustainable. It’s not acceptable to the majority of the ownership group, given the whopping luxury tax they have to pay for violations. Hal added that he has been a broken record on the view that no team needs a $300 million roster to win championships. Hence, going ahead in the 2025 off-season, the Yanks will ensure that they stay below the maximum luxury tax threshold. But will that have any ripple effects on Juan Soto’s extension aspirations?
No, says Hal Steinbrenner. The New York Yankees managing partner revealed that they have a considerable amount coming off the financial books by the end of the year, which didn’t happen this year. Gleyber Torres, Alex Verdugo, Juan Soto, and Clay Holmes, as well as former Yankee busts Aaron Hicks’ and Josh Donaldson’s contracts, are expiring this season which accumulates to over $50 million in salaries. Besides, the team also has an option to reject Anthony Rizzo’s club option. Hence, Steinbrenner believes the Yanks will have enough room to accommodate Soto even if the generational star fetches a $500 million deal. Overall, Hal Steinbrenner believes that going forward, the Yanks would promote younger and cheaper talents to not only save money off the payroll but also increase the efficiency of the team.
“I Had No Doubt Juan Soto Would Perform In New York,” Hal Steinbrenner
In a major revelation, the New York Yankees owner Hal Steinbrenner admitted that he never doubted Juan Soto’s ability to adjust to the change of scenery. He was confident that looming free agency, big city pressure, and the change of scenery wouldn’t affect his performance on the plate. However, Hal did have three concerns related to Soto.
Hal Steinbrenner confessed that he was worried if Juan Soto would handle the media well and also how he would interact with fans and his teammates. But as to so far he has seen in the season, Steinbrenner proudly said that he is satisfied with Juan Soto as the generational star has exceeded all exceptions to fit well in the pinstripes.
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