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.
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Dale, Michael and Jerry dig into the details of this draft for the Patriots with ESPN's Mike Reiss.
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Giardi and Price break down how the teams in the AFC East altered their futures after the NFL Draft weekend.
Jeff Goodman calls Mike and Rob to drop a ton of knowledge on the upcoming NBA Draft and some of the names available. Sorry fans - he doesn't see Kevin Durant or any big-named free agents coming to Boston and thinks they'll end up making the third pick this season. He also says that there is NO WAY he would trade next year's Brooklyn pick because the draft will be very deep. He discusses the chances of trading with Philly for Okafor, why he like Kris Dunn so much and much more.
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Ian Thomsen of NBA.com joined Sam Packard and Jared Weiss to discuss the next moves for Danny Ainge and the Boston Celtics with the NBA Draft Lottery rapidly approaching. They discussed the crazy ending to Game 2 of Thunder vs Spurs and picked the player they would build their pretend new franchise around.
Danny recaps the Red Sox 7-2 win over the Orioles
Danny Picard recaps the Red Sox 5-3 win over the Blue Jays.
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Giardi and Bradford debate why kids are more into the NBA and will be watching the Golden State vs. OKC game 7 tonight, and why no young fans will watch a neutral baseball game.
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Laroy Streat keeps setting fire to the airways and talks people singing his Freestyle Fridays to him when they see him on the street! Catch our guy every friday via final drive! He's must listen radio!
We end the week with the best in sound Laroy Streat continues to set fire to the airways with his music.
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