Remember when I asked whether the luxury tax or championships were more important for the New York Yankees front office? Well, they just showed that they have no problem going all-in on the RIGHT piece missing from the puzzle.
So what does Cole mean for the Yankees and the luxury tax?
The luxury tax for 2020 is $208 million. But going $40 million past the $208 million results in being taxed at 42.5%. The Yankees will also have their highest pick in the Rule 4 Draft drop 10 spots getting there.
Going into signing Cole, the Yankees were sitting at $199,228,571 in total payroll.