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Yankees extend Wang
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Posted by: min0 lee
Yankees agree to one-year deal with Chien-Ming Wang; avoid arbitration
BY JESSE SPECTOR
DAILY NEWS SPORTS WRITER
Monday, December 22nd 2008, 6:54 PM
The Yankees agreed to a one-year, $5 million contract with Chien-Ming Wang Monday, avoiding salary arbitration with the 28-year-old righthander.
Wang was 8-2 with a 4.07 ERA in 15 starts this year before injuring his foot while running the bases in Houston on June 15 and missing the rest of the season. Even having missed half of 2008, Wang's 46 wins over the last three seasons are the eighth-most in the majors over that span.
Wang made $4 million this year after losing in arbitration.
Yanks have $26.9 million luxury tax
The Yankees not only failed to make the playoffs, they were hit with their highest luxury tax in three years.
The Yankees were assessed a $26.9 million tax by the commissioner’s office on Monday, up from $23.9 million last year and their biggest bill since paying nearly $34 million for 2005.
The Detroit Tigers, who also failed to qualify for the postseason, are the only other team that must pay tax and owe $1.3 million to the commissioner’s office.
Checks are due by Jan. 31.
Both teams got little for what they spent. The Yankees’ streak of 13 consecutive playoff appearances ended, and they finished third in the AL East at 89-73, prompting them to spend nearly a quarter-billion dollars to sign pitchers CC Sabathia and A.J. Burnett.
Detroit entered the year with lofty expectations after acquiring Miguel Cabrera and Dontrelle Willis but went 74-88 and finished last in the AL Central.
While the Yankees pay at a 40 percent rate for the amount over $155 million, the Tigers pay at a 22.5 percent rate because they exceeded the specified threshold for the first time.
This year’s figure brings the Yankees’ total tax to $148.3 million in the six seasons since it began — 90 percent of the total.
Before this year, the only other teams to pay were the Boston Red Sox, who owed $13.9 million for exceeding the threshold in four seasons, and the Los Angeles Angels, who paid $927,000 in 2004.
The Bombers' payroll was $222.2 million and Detroit was second at $160.8 million for the purpose of the luxury tax. To computer it, Major League Baseball uses the average annual values of contracts for players on 40-man rosters and adds benefits.
The threshold rose from $148 million last year to $155 million this season. It goes up to $162 million next year and rises by $8 million in each of the following two seasons.
With the Associated Press
Posted by: soxmuscle
My wang is extended right now as well.
Posted by: min0 lee
I hope he does't have a down year.
Posted by: Triple Threat
Are you talking about sox?
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Yankees extend Wang
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