Yankees must repay $10K each on Series shares

Quote :

Fork it over, Jeter: By David Brown

In this uncertain economic climate, even Major League Baseball isn't immune to having to pay back bonus money.

AIG, Goldman Sachs, the New York Yankees. Quite a murderer's row of financial shenanigans.

In the case of the Yankees, payback is not because of greed or hubris, at least on the surface. Rather, CNBC's Darren Rovell reports, accounting errors have been found that are going to cost the likes of Derek Jeter(notes) and Alex Rodriguez(notes) a big chunk of their World Series bonus.

A letter from the Major League Baseball Players Association is asking players to return the extra money.

From CNBC:

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.

Did the Yankees re-hire George Costanza to do their accounting?

Anyway, taxes and such take 50 percent, and now this. Yeah, 10 grand is one thing for Jeter ($21.6 million) and A-Rod ($33 million), who can drop that on a parking valet and not blink. But, as Rovell points out, Joba Chamberlain(notes) ($432,575) and Brett Gardner(notes) ($422,450) aren't exactly millionaires — yet.

The Yankees have not given an official comment, possibly because the 2006 St. Louis Cardinals have reclaimed the Series record for a full bonus share — $362,173 per man. Congratulations to them, again.

Back to the Bronx for a second. Two trainers didn't get paid? All season, those guys quietly tape ankles, rub muscles, ensure that guys don't drown in the hot tub. And this is how they're repaid? By not getting paid! For shaaaaame, Yankees.

As for the mystery player, I wonder who didn't get his. My monopoly money is on Eric Hinske(notes), not because of his contribution or lack thereof. Guys probably just got sick of Hinkse receiving a World Series share, as he has done the past three years with three different teams.

Hey, let someone else eat from the trough, Hinske!

This will break ARod and Jeter, I expect them to file for bankrupcy very soon.

Well I wouldn't say it was the Yankees repaying $10k each because that money still went back to Yankees personnel. It's more like Yankees reallocate $10k each.