TEMPE, Ariz. — The Angels’ trade of Vernon Wells to the New York Yankees, which is expected to be finalized Tuesday, will have significant financial implications for the club, and not just because of the $13 million it will save over the next two years by shipping the veteran outfielder to the Bronx.
A major incentive for dealing Wells, who is scheduled to undergo a physical in Tampa, Fla. on Tuesday, is to give the Angels enough financial relief to finish the season under the $178-million luxury tax threshold, according to a person familiar with the team’s thinking but not authorized to discuss it.
The Angels, according to numerous reports, have agreed to pay $29 million of the remaining $42 million of Wells’ contract, which runs through 2014, meaning the Yankees will pay $13 million.
With savings from the Wells trade, the Angels’ opening-day payroll for players on the 25-man major-league roster will be about $153.5 million.
