Via ESPN -
The Vernon Wells contract will actually help the Yankees’ goal of being below $189 million in payroll for 2014, a source confirmed to ESPNNewYork.com on Monday.
The Daily News first reported the finances.
All the particulars of the money for the deal with the Angels have not yet been finalized, but the Yankees will end up paying somewhere between $12 million and $14 million of the $42 million owed to Wells in the final two years of his contract.
The Yankees will likely end up doling out $10 million or $11 million for 2013 and $2 million or $3 million for 2014.
It is a complicated formula, but, in the end, Wells’ money will either have no impact on the $189 million goal for 2014 or the Yankees will receive a credit. Since Wells’ contract has been traded once before, the Yankees may receive as much as a $2 million savings toward their ’14 luxury tax figure.
O.K., so, Wells will cost the Yankees about eleven mill this year. And, if Mark Teixeira is out for 12 weeks, that means that Vernon Wells is basically playing this season for free, right? (The logic here is that the Yankees will get about $11 million from the WBC to cover Tex’s salary if he is out for 12 weeks.)
Yet, it still doesn’t mean that Wells will help the Yankees on the field this year. It just means that the Yankees got lucky that Tex blew out his wrist while wearing the USA jersey and not when he was down in Tampa.