Somewhat Shocking: Yankee Payroll Will Actually Be Smaller In ‘09
You would think with all the money the Yankees threw around this offseason in acquiring Mark Teixeira and CC Sabathia, their payroll would be higher this coming year. Seems logical, seems to make sense. But, friend, you would be very wrong. In fact, the Yanks have actually trimmed payroll this year, because they’ve gotten rid of some large contracts — Jason Giambi went back home to Oakland today, to name one — and Sabathia’s and Texiera’s contracts are back loaded.
The Yankees were able to afford much of that new payroll by shedding between $80 million and $90 million in high-priced players, including Bobby Abreu, Jason Giambi, Mike Mussina and Andy Pettitte. Pettitte may stay with the team under a cheaper contract.
Considering that the new contracts are spread out over eight years, the Yankees’ payroll for the 2009 season should be $20 million or $30 million less than 2008.
“They are not recession-proof,” said Marc Ganis, president of Sportscorp, a prominent sports-consulting firm in Chicago. “The reason why this works is because they’re dropping $85 million from their payroll.”
See: The Yankees are just like you and me, looking to cut cost to stay afloat in these tough financial times. Except their dealing with millions of dollars and you’re trying to ration those last bits of McDonald’s dollars gammy gave you for Christmas. Same difference, really.
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Poor us...:(
Payroll Outsourcing
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Mark
Business Process Outsourcing
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