“Open your books, prove you can’t sustain it” - MLB insider reacts to Hal Steinbrenner’s comment on Yankees payroll
Yankees owner Hal Steinbrenner made some strong remarks about the organization's payroll in the MLB owners' meeting on Wednesday.
Steinbrenner emphasized that the ballclub needs major budget cuts and that the current payroll of the organization is not sustainable in the long run.
"I’m gonna be honest, payrolls at the levels we’re at right now are simply not sustainable for us financially. It wouldn’t be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay," Steinbrenner said
MLB analyst Ken Rosenthal appeared on the latest episode of Foul Territory and quickly fired back at Hal Steinbrenner's comments. Rosenthal said:
"Open your books, prove you can’t sustain it, because I don’t believe that for a second."
Hal took the reigns of the most successful ballclub in the major leagues from his father, George Steinbrenner in 2008. Under George's leadership, the Yankees saw their golden age flourish and reach their peak.
Fans in Big Apple were great admirers of Steinbrenner Sr. because of his free-spending nature and not holding back from making big money signings. The Bombers notably won five World Series titles from 1996 to 2009.
The Bombers currently have the second highest payroll in the big leagues at $305.35 million. This has increased considerably over the last two seasons. According to Forbes, the NY Yankees' 2023 revenue stood at a whopping $679 million, and the ballclub is currently valued as one of the richest teams in the world, estimated to be worth a whopping $7.55 billion.
Hal Steinbrenner's comments regarding the payroll did not sit well with the fans. Moreover, the Yankees faithful are hoping to retain their Dominican ace, Juan Soto, after the 2024 season.
Hal Steinbrenner had earlier voiced hope of extending Juan Soto's contract with the NY Yankees
Last week, in an exclusive interview with YES Network's Jack Curry, Hal Steinbrenner was asked what the organization's take was on extending Juan Soto's contract with the NY Yankees.
"Well I think we'll like to see him here for the rest of his career. I wanted to give Juan [Soto] time to really be settled in and make sure that obvisouly the most important thing is that this is the place he can see himself for a long time.
"I wouldn't be shocked if there was a conversation or two happening possibly during the course of the season," Steinbrenner said
Juan Soto signed a one-year contract worth $31 million. His future with the Yankees will depend on Steinbrenner and his super agent, Scott Boras, coming to an agreement without disrupting the payroll.