Despite all the cost-cutting, the Yankees are likely to exceed the luxury tax threshold next year

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Oops.

Jeff Passan reports why the Yankees — whose decision to not sign any significant long-term deals this past offseason despite multiple on-field needs was chalked up to a desire to get under next-year’s $189 million luxury tax threshold — are likely to exceed said threshold nonetheless:

In recent months, the Yankees have become far less bullish on their publicly stated austerity plan, admitting to other executives and agents that staying beneath the $189 million threshold is unlikely and impractical.

“They’re going to be over 189,” one source familiar with the Yankees’ plans said. “They know it. Everyone knows it. You can’t run a $3 billion team with the intentions of saving a few million dollars.”

Passan explains why the particular rules of the luxury tax and the revenue sharing system make Plan-$189 million both impractical and, perhaps, less desirable to the Yankees than it once was.

Now, if only there were some good young blue chip free agents to go blow a chunk of change on.