New York Yankees managing general partner Hal Steinbrenner said the team's current payroll is "simply not sustainable" for the team moving forward.
"I'm gonna be honest, payrolls at the levels we're at right now are simply not sustainable for us financially," Steinbrenner said at the league owners' meetings, per Dan Martin of the New York Post. "It wouldn't be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay.''
Per Scott Boeck of USA Today, the Yankees' payroll on April 3 was $303 million, the second-highest figure in MLB.