Peter Max: For The Yankees, It’s All About The Money Right Now

Since coming close to reaching the World Series yet failing, the New York Yankees realize that some things need to change -- specifically, in the area of money. And the team is methodically making this happen, according to on-the-rise sports blogger and analyst Peter Max.

Max currently studies sports marketing in California, although he hails from New York, where he is passionate about his New York Yankees. He brings a fresh perspective to the analysis of this dynamic, iconic sports team.

In the past, the Yankees were relatively reactive. However, the organization is much more methodical in nature these days. For example, right now, the Yankees are aiming for payroll next year to be under the threshold for the luxury tax, which is currently $197 million. This is something that the team has not been able to achieve in a whopping 17 seasons.

The principal owner of the team, Hal Steinbrenner, said he believed that the Yankees could be high-caliber world champions while not having a payroll of more than $200 million. Being under the threshold will enable the Yankees to spend more money freely in 2018, when a strong class of free agents, including Bryce Harper, is expected.

Still, Forbes has valued the franchise at more than $3 billion this year. With millions of fans, including followers on Facebook, the Yankees stole the show time and time again over the past decade, during which it more than doubled its revenues. One of the leading baseball agents, Scott Boras -- an industry artist in his own right -- recently praised the Yankees for such an accomplishment.

According to Max’s dad, another die-hard Yankees fan, the Yankees team has been highly successful, but what it does with its success today will determine its status long term. Max’s daughter, who also supports the Yankees, says the biggest mistake the team can make is to fail to reward its fans, who have essentially made its success possible.