It’s time for baseball’s biggest spenders to pay up.
According to the Associated Press, via NBCSports.com, the Yankees were hit with a $13.9 million luxury tax bill from MLB on Thursday and the Red Sox were asked to pay $3.4 million.
For the Yanks, it’s their lowest luxury tax bill since 2003, down from $18 million in 2010 and $25.7 million in 2009. For the Red Sox, it’s their highest bill ever, up from the $1.5 million they paid last year. Both fees, which are based on the teams’ payrolls for 2011, must be paid to the MLB commissioner’s office by the end of January. The luxury tax threshold was $178 million.