Is there a salary cap in Baseball?
No. As of 2003 there is a "luxury tax" the teams who spend the most have to kick back to the league to be dispensed to the smallest market teams, but there is no limit to how much a team can pay players.
The New York Yankees have the highest payroll, but the Red Sox are second highest. Boston is not now, nor have they ever been, a team like Pittsburgh, Kansas City or Montreal that when free agency went into high gear in the '80s found themselves unable to keep players with long-term big-dollar contracts. Last year, when the Red Sox won it all, they were also the second-highest payroll in the game and they paid out $3-million to the league to be given to the teams that spent the least amount of money. In 2004 The Yankees paid $25-million in that same tax.
The Chicago White Sox were thirteenth in team payroll this year, just about the middle of the pack (there are currently thirty teams). Houston is just ahead of them at number twelve. The Chicago Cubs, now the last of those old teams that haven't won a Series in forever, had the eighth highest payroll.
Here's the full list...
1. New York Yankees: 205,938,439
2. Boston Red Sox: 121,311,945
3. New York Mets: 104,770,139
4. Philadelphia Phillies: 95,337,908
5. Los Angeles Angels of Anaheim: 95,017,822
6. St. Louis Cardinals: 92,919,842
7. San Francisco Giants: 89,487,426
8. Chicago Cubs: 87,210,933
9. Seattle Mariners: 85,883,334
10. Atlanta Braves: 85,148,582
11. Los Angeles Dodgers: 81,029,500
12. Houston Astros: 76,779,022
13. Chicago White Sox: 75,228,000
14. Baltimore Orioles: 74,570,539
15. Detroit Tigers: 68,998,183
16. Arizona Diamodbacks: 63,015,833
17. San Diego Padres: 62,888,192
18. Florida Marlins: 60,375,961
19. Cincinnati Reds: 59,658,275
20. Minnesota Twins: 56,615,000
21. Oakland Athletics: 55,869,262
22. Texas Rangers: 53,891,258
23. Washington Nationals: 48,581,500
24. Colorado Rockies: 48,107,500
25. Toronto Blue Jays: 45,038,500
26. Cleveland Indians: 41,830,400
27. Milwaukee Brewers: 40,234,833
28. Pittsburgh Pirates: 38,133,000
29. Tampa Bay Devil Rays: 37,975,067
30. Kansas City Royals: 36,881,000
*Note: Team salaries do not represent
full team payroll. Number listed includes
current salary for all players currently on
the roster.