OK, Red Sox Nation, I am by no means a mathematician, but with the help of Baseball Reference as well as Cot's Baseball Contracts, by my calculations, the Red Sox currently have $146 million and change tied up in player contracts going into the 2012 season.
The Luxury Tax threshold for 2012 is $178 million.
Sounds like there is a lot of room to make some splashes, right? Wrong.
With the most up-to-date figures I could find, it looks as though the Red Sox still have to sign nine of their own players through arbitration soon. The most expensive of which coming in the form of David Ortiz, who filed for arbitration seeking $16.5 million for next year.
The Red Sox offered him $12.65 million.
The two sides are off by $3.85 million dollars. For the sake of argument, let's presume that Ortiz agrees to split the difference and signs at $14.575 to play. That now brings the payroll up to $160.575 million.
There are still eight players remaining to be signed. Let's take a look at who's left.