"I don't want to get into it, but that's not a fair statement or an accurate statement, Steinbrenner said. Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million expense to the City of New York that we have to pay every Feb. 1, including the COVID year. So it all starts to add up in a hurry."
"Would it be ideal if [the payroll] went down? Of course, Steinbrenner said. But does that mean that's going to happen? Of course not. We want to field a team we know can win a championship, or we believe could win a championship. It all depends on what's out there and what the possibilities are and how much I feel we're able or we need to pull the trigger on those possibilities."
Team ownership emphasized that revenue figures do not account for substantial expenses, including a roughly $100 million annual payment to the City of New York due each Feb. 1, even during the COVID year. Ownership expressed interest in decreasing payroll while also prioritizing fielding a roster capable of winning a championship. The Yankees remain short of necessary talent to legitimately contend for their first World Series title since 2009, a gap highlighted by the Toronto Blue Jays' ALDS victory. Last season's payroll was about $319 million; after recent moves, Spotrac estimates approximately $212.5 million currently committed.
Read at www.amny.com
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