Yankees' Hal Steinbrenner Talks Potential Salary Cap: 'It Depends What the Number Is'

New York Yankees principal owner Hal Steinbrenner doesn't believe the organization would fully cede the financial advantage it enjoys if MLB ever instituted a hard salary cap.

"But it depends what the cap is, it depends what the cap is," he said, per The Athletic's Evan Drellich. "And it has to be, again, accompanied by a floor, so every club is doing their job to try to make it to the playoffs, for their fans' sake.

"One thing people know about me, I'm always willing to have a conversation. You know, other owners, whoever—always willing to listen. But in regards to [a cap], it's just too hypothetical right now, because what is it? What will it be, if it ever is?"

Speaking broadly on the idea of a salary cap, Steinbrenner emphasized that placing a firm limit on what a team can spend should be accompanied by a higher payroll floor.

"What really gets me going in a negative way is owners that aren't putting money into the team when they could," he said. "And that's happened in the past, and probably happens every year to a certain extent. That's what a lot of the owners like me don't like—for all the reasons I told you earlier, their fans deserve a product that they can put on the field."

Steinbrenner didn't explicitly endorse a hypothetical salary cap but didn't totally denounce the idea, either. He said his opinion depends on the specifics involved.

His hedging probably won't be received well among fans who have long been disgruntled with ownership.

The Bronx Bombers have one the most recognizable brands and play in one of the world's biggest media markets. That combination gives you a license to print money.

However, there's a perception—one not without merit—that Steinbrenner hasn't operated like an owner who's guiding a franchise valued by Forbes as the fourth-richest ($6 billion) in sports.

He has occasionally lamented the level of spending expectations thrust upon him. During the last round of collective bargaining negotiations, he voted in favor of lowering the luxury tax threshold.

This past offseason, Steinbrenner said the New York Mets' flurry of moves need "to be looked at," which is basically the inverse of the historic dynamic between the crosstown rivals. The Yankees used to be the ones throwing around all the money to the ire of the lesser-regarded Mets.

"Hal operates the Yankees like a top Broadway show," a player agent told The Athletic's Ken Rosenthal and Lindsey Adler in December 2021. "They charge top ticket prices and put the biggest and best stars on the stage. With that said, the show's primary purpose is to turn a significant profit. If the Broadway show happens to win a Tony for Best Show, all the better."

While he didn't specify his views on a salary cap, it's pretty easy to read between the lines and know where Steinbrenner stands on the matter.