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July 25, 2008 11:58:01 AM CDT

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Luxury Tax Levied on Yanks, BoSox

Posted Dec 26, 07 6:12 AM CST in Sports 

(Newser) – The Yankees owe Major League Baseball $24 million of competitive-balance "luxury" tax on contracts that pushed the team's payroll over the $148 million limit, AP reports. The might seem like a lot to shell out for the privilege of paying Roger Clemens to go 6-6, but it's actually less than last year.

Also cutting a check to the commissioner's office are the Red Sox, whose $6 million tax may seem well worth it to those Bostonians still basking in the glow of World Series victory. Boston has owed a total of $14 million since the luxury tax started in 2003; the Yankees have racked up $122 million in charges in that time.

Source Associated Press

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Boston Red Sox pitcher Jonathan Papelbon might not be as thrilled to hear about his team's luxury tax bill as he was about winning the 2007 World Series. (AP Photo/David Zalubowski, FILE)   (Associated Press)
New York Yankees starting pitcher Roger Clemens throws in the first inning of a baseball game in this July 23, 2007 file photo, in Kansas City, Mo. Clemens's contract cost the Yankees nearly $7 million...   (Associated Press)
New York Yankees owner George Steinbrenner, left, places his hands on the shoulders of third baseman Alex Rodriguez (13) as they talk following batting practice at spring training, in this Feb. 26, 2005...   (Associated Press)
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