The Yankees Agree To A $70M, 7-Year Deal For Aaron Hicks.

Making another move to keep their core of players together, the New York Yankees agreed to a $70 million, seven-year contract with outfielder Aaron Hicks.

With a $4 million increase in Hicks average annual value this year, New Yorks raised its projected luxury tax payroll to about $229 million, well above the $206 million threshold and past the first surtax level.

The Yankees would pay a 20 percent tax on the first $20 million above the threshold and at a 32 percent rate on the next $20 million.

New York didnt pay luxury tax in 2018, the first time the Yankees were under the threshold since the tax started in 2003.

By falling under, the Yankees reset their tax rates, which had been 50 percent on the first $20 million over and 62 percent on the next $20 million.