At some point soon very soon the Yankees will get under the luxury tax threshold. That’s the plan. The new Collective Bargaining Agreement raised the threshold a bit, which gives the team more breathing room. Getting under the threshold resets New York’s tax rate, and depending on the terms of the new CBA, it could entitle them to some revenue sharing rebates too. Those were included in the last CBA.
The Yankees shed some notable contracts following 2016, most notably Mark Teixeira‘s. Carlos Beltran‘s contract disappeared at the trade deadline, as did Andrew Miller‘s.