Yankees Have To Return Approximately $10,000 Each From World Series Share
CNBC Sports Business Reporter
Winning was sweet for the New York Yankees, who won their 27th championship last fall. But it’s not worth as much as it was back then.
Sources told CNBC that Yankees players recently received a letter from the Major League Baseball Players Association that informed them that there was mistake in the calculation of the World Series championship share.
By virtue of winning, the Yankees divided up $21.2 million. Originally, the Yankees awarded 46 players and coaches full shares, making the full share a record $365,052 (12.25 partial shares were also awarded.)
But the letter told those who had full shares that three people (two trainers and a player) were not allocated their proper share. The result? Those who received full shares are now being asked to pay back approximately $10,000 each.
The record for the largest full share now belongs to the St. Louis Cardinals, whose full-time players and coaches received $362,173 each in 2006.
Counting a variety of state and federal taxes, the players net approximately 50 percent of the share.
Perhaps the average worker isn't sorry, but not all the Yankees are millionaires. Yankees pitcher Joba Chamberlain, for example, made $432,575 in salary last year.
Yankees spokesman Jason Zillo declined comment. A union spokesman could not immediately be reached for comment.
Questions? Comments? SportsBiz@cnbc.com