Our friends at the Biz of Baseball have written how the luxury tax has succeeded (a little bit) in reining in the Yankees' league-leading payroll. From 2003-2011, the Yankees have accounted for 95% of the league's luxury tax payments, or more than $206 million. The Red Sox are second at just $18.8 million. That probably explains why Derek Jeter is only making $16 million this year.
Compounding the Yankees' terrible money problems (tongue firmly planted in cheek), the team thinks its attendance is suffering (down 3.6% this year) because StubHub has cheapened their product. But Field of Schemes debunks that theory.
Also in the Big Apple, the New York Times had a pleasant profile of Rays owner Stu Sternberg. The story paraphrases Sternberg by saying his biggest focus is on winning, not making money; and that he doesn't think the Rays are really worth $323 million.
Speaking of the Rays, they head into mid-June with the 28th-best/3rd-worst attendance average in the bigs. However, it is up a touch from last year.
Finally, a hat tip to the Sports Biz Miss, who directed me to Orlando's efforts to use tourist tax dollars to increase bowl payouts. I get what Mayor Buddy Dyer is trying to do, but it doesn't feel right to re-direct a few bucks from every Orlando hotel room night to the Big 10 or SEC. My very inside confidential sources (tongue still planted firmly in cheek) tell me both conferences are doing just fine financially.
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