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Kuty’s information comes from “a source with knowledge of the team’s thinking” who kept their identity anonymous as a condition for divulging the report. While it is always strange to hear one of the richest franchises in all of professional sports cry poverty, this news comes as no surprise for anyone following the team for the past two years.
The Yankees did not sign a major league free agent this offseason for the first time in their history. Owner Hal Steinbrenner has been very open about his desire to get under the luxury tax, which will enable the team to avoid paying a 50% premium on all of their signings.