Lee’s $120M Won’t Break Bank
PHILADELPHIA (CBS) – Cliff Lee is back with the Phillies. Is his five-year, $120 million deal going to break the bank for the Fightin’s?
Signing Cliff Lee reportedly puts the Phillies’ 2011 payroll in the area of $160 million — uncharted waters for the franchise. But Phils president David Montgomery told reporters that contrary to popular belief, there is no internal spending cap.
“You guys don’t get it. We don’t have a budget, per se. And we don’t have a ceiling and a number. We haven’t, and we haven’t for a long time. And when you make moves like taking on Roy Oswalt during the summer, and the commitment we made to Roy (Halladay) last year, we’re able to do this because we have wonderful fans,” Montgomery said.
Fans who have bought every available ticket for a season and a half.
Montgomery says adding Cliff Lee is an effort to extend fan support for the long term, not just next year.
Reported by Mike DeNardo, KYW Newsradio