According to the Associated Press, the Red Sox were hit with a $3.4 million luxury tax bill by Major League Baseball. That fee was assessed based on the team's 2011 major league payroll as calculated for competitive balance tax purposes (a formula that reflects the average annual salaries paid to all players who spent time on the 40-man roster, along with medical benefits).
This year, the luxury tax threshold was set at $178 million. Because the Sox surpassed the luxury tax threshold for the second straight year, they were penalized at the rate of 30 percent. The $3.4 million bill, in turn, means that the team's payroll (as calculated for CBT purposes) was approximately $189 million, the largest ever by a non-Yankees team.
The Sox and Yankees were the only two teams in the majors that exceeded the luxury tax payroll threshold this year. It is the sixth time in eight seasons that the Sox have surpassed the threshold. It is the second-largest luxury tax bill that the Red Sox have ever been assessed, behind only the $6.06 million the team paid following the 2007 season.
The fact that the team's payroll was roughly $189 million is particularly intriguing in light of the new Collective Bargaining Agreement, which takes effect in 2012. The threshold will remain at $178 million in both 2012 and 2013 (the Sox have already resigned themselves to exceeding the threshold in 2012, a season in which they will be penalized 40 percent on each dollar spent beyond $178 million) before moving up to $189 million in 2014, 2015 and 2016.
The Yankees, meanwhile, were hit with a $13.9 million luxury tax bill, their lowest from MLB since 2003. The Yankees have now been hit with more than $215 million in luxury tax fines since 1997. The Red Sox rank second in such penalties at approximately $21 million. The Orioles rank third at approximately $11 million.
For complete Red Sox coverage, visit weei.com/redsox.
Patriots Head Coach Bill Belichick joins Dale and Steve DeOssie to talk about cutting the roster down to 53 players. Jimmy Garoppolo is set to start and play most, if not all of the preseason contest against the Giants. Bill also expressed his thoughts about the kicking game and how some of the new rules have affected the importance of it.
WEEI.com's Mike Petraglia and Chris Price discuss the news that Jimmy Garoppolo will get the start Thursday and play most of the game. They talk about what it might mean for Ryan Mallett.
Julian Edelman joins Christian and Danny Picard to talk about his approach going into the season, his performance this preseason, as well as the VMAs, and preventing cramps using mustard.
Jackie Mac joins the guys to discuss her thoughts on a possible mid-season tournament in the NBA, LeBron's return to Cleveland, trade rumors with the Celtics and Red Sox, and Darrelle Revis' contract situation.
Jackie MacMullan of ESPN Boston to talk about the Lebron James Saga, the possibility of Rajon Rondo being traded, and the future of Marcus Smart.
Former coach of Celtics 1st-round pick Marcus Smart, Travis Ford joins MFB to talk about what Celtics fans should expect from the strong point guard. Among other things, Coach Ford says Smart will be a hard worker, and will improve his shooting ability.
Kevin Millar checks in to talk about the Castillo signing, Giancarlo Stanton, and the MLB's pace of play.
The Sox outfielder joined Dave and Lou after the comeback win, in which he had three hits and knocked in the tying run.
Rob Bradford is joined by WEEI.com Bruins beat writer DJ Bean, as well as Boston sports fan/blogger Turtleboy to talk all things Bruins free agency. With the B's recent moves, the conversation turns to where the Bruins might next turn and what kind of dent losing Jarome Iginla and Shawn Thornton might make.
DJ discusses Shawn Thornton's new deal, and the on going negotiations with Jerome Iginla
DJ Bean joins the program to dismiss the recent rumors that the Bruins are in discussions to trade Brad Marchand to the Sharks for Patrick Marleau
Rick Stroud of the Tampa Times discussed the Logan Mankins deal.
Chris Nowinski discussed the future of Wes Welker.
The top stories of the day as recounted by Buck.
Tim talks about the city of Las Vegas attempting to get an NHL franchise. Lou wards off "huge" bat. Christian winds up in the dog house again, for what happened on MFB yesterday.
Today we discuss the four most famous Pats players that Bill Belichick surprisingly dealt away.
Dale, Field Yates, and Andy Hart give a brief preview of the AFC East.
Taylor Twellman, who had to end his career early due to concussions, discusses Wes Welker's most recent concussion.
Co-founder and chairman of the Boston Beer Company, Jim Koch, talks about his Sam Adams beer and the history of his brewery.
Danny picard is filling in for Mikey and talks with CSNNE's Mike Giardi about Clay Buchholz heading up the Red Sox pitching rotation, and how the Patriots have looked through training camp so far.
Mut and Villani are talking about whether the Red Sox will give Jon Lester the type of contract he is looking for, or whether they might be shopping him with rumors of the Red Sox scouting Cole Hamels.
Rob Bradford is joined by Turtleboy of TurtleboySports.com to discuss which current major leaguers might be in line to become Hall of Famers. The duo dive into the difficulties facing the current crop of big leaguers when trying to reach Hall of Fame status.
Fantasy Football Drafts are now happening every day, so Pete Davidson and Jim Hackett have you covered. This Podcast focuses on the High Value Targets you can get in your drafts if you draft smartly. These players can slip to you and make a great impact on your roster as the season moves on. The draft is won in the middle to late rounds when the best upside players are taken. Jim and Pete give you in depth analysis on the High Value Targets to seek along with the Rookies that can make an impact this year. Jim and Pete will be back this Sunday morning too, on-air at WEEI FM 93.7 with even more. Prepare and enjoy!
Brady joins Dennis and Callahan heading into week four of the preseason. He explains how he exercises his brain to maintain and build brain fitness.More from this show
Tom Curran on Welker's latest concussion.More from this show