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Luxury Tax Newsbeat

Friday, August 14, 2015

Giants may be willing to pay luxury tax to pursue Phillies’ Utley | FOX Sports

The San Francisco Giants, seeking their fourth World Series title in six years, have crossed a new payroll boundary and might continue to add salary before the Aug. 31 deadline for setting postseason rosters.
For the first time, the Giants are in position to exceed the luxury-tax threshold, according to major-league sources. Yet, the team continues to explore trades for hitters such as Phillies second baseman Chase Utley, sources say.
The threshold, introduced in the 2003-06 collective-bargaining agreement, is $189 million. The Giants were about $1.5 million over that figure, including player-benefit costs, before adding Reds right-hander Mike Leake on July 30. Absorbing the remaining $3.58 million on Leake’s contract put the team about $5 million over the limit, sources say. The Giants also pursued a more expensive pitcher, then-Phillies left-hander Cole Hamels, indicating that they were prepared to go even higher.

Jim Furtado Posted: August 14, 2015 at 07:47 AM | 12 comment(s)
  Beats: giants, luxury tax

 

 

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