TAMPA, Fla. — In great detail, Hal Steinbrenner explained Friday morning’s unexpected big announcement that Yankees players will be able to grow beards for the first time in 50 years in front of media in Steinbrenner Field’s Champion Hall meeting room.

There were questions and answers for more than 20 minutes on the Yankees managing partner’s decision to relax a team appearance policy that was adopted in 1976 by his late father, George Steinbrenner. General manager Brian Cashman, seated to Steinbrenner’s right, provided some insight, as well.

Before this news conference wrapped up 90 minutes before the first pitch of the Yankees’ first Grapefruit League game, Steinbrenner was grilled about the 2025 payroll.

Reporter: It’s been nearly 20 years since a team that advanced to World Series lowered payroll the following season. You’re currently running a lower payroll. Is it your intention to reduce payroll this year?

“Our payroll now is almost identical to last year,” Steinbrenner responded before adding the Yankees were in the $307 million to $308 million area counting luxury-tax penalties after being at $310 million in 2024.

Actually, it’s been 16 years since a team won a pennant one year and cut payroll the next, the Tampa Bay Rays in 2008 to 2009, but, by all accounts, the Yankees would be the next if more money isn’t added.

According to Cots Baseball, the Yankees’ projected payroll for 2025 is $304.1 million, down $316.2 million in 2024. FanGraph’s calculations have the Yankees dropping from $313.3 million to $305.1 million this year.

Both have the Yankees with the fourth-highest payroll behind the Dodgers, Mets and Phillies.

“We’re the New York Yankees,” Steinbrenner added. “We know what our fans expect. We’re always going to be among the highest in payroll. That’s not going to change and it certainly didn’t change this year. We’re right there.”

Reporter: It’s been reported by many people you want to get under the (highest luxury-tax) threshold. Is that true?

Steinbrenner: “I would say no, The threshold is not the concern to me”

There are four thresholds for the first time this year, $301 million the highest. Anything above that brings a 45 percent surcharge.

After defending his spending, Steinbrenner brought something up that he’s been talking about for a few years:

“We have great people here. We have a good player development system, good young players that have come up – the Volpes, the Wells, the Gils – and will continue to come up.

“Should I really need a $300-plus million payroll to win a championship? Does having a huge payroll really increase my chances that much? I’m not sure there’s strong correlation there.”

Steinbrenner then was asked about speculation that owners will push for a salary cap in the next CBA. The current one started in 2022 and expires after the 2026 season. There already are rumors of another work stoppage regardless if owners gun for a cap or not.

“We’re right in the middle of the labor agreement right now,” Steinbrenner said. “The only thing I’m focused on, seriously, is 2025, I’m not even focused on 2026, much less what the world’s going to look like three or four years from now.

“I have been on the record already saying that I would consider supporting a cap, depending on what the cap is and contingent on the fact that there’s also a floor so that clubs that I feel aren’t spending enough money on payroll to improve their team would have to spend more.”

Whatever the salary cap numbers would be, the Yankees and every other big-market team probably would be affected for the worse. They’d lose some of their money advantage.

Steinbrenner’s take?

“I trust Cashman and everybody under him that our player development system will stay as strong as it has been the last few years. That’s why we put so much money into it, and I believe that’s going to be the case.

“We have traded away a lot of guys the last few years, but we still have a lot of great players coming up, really at all levels. I expect that to continue. You’ve seen our young players and how they contribute.

“You also need the veterans and the superstars, but the young players have to be a big part of it too, and they’re going to continue to be for us, I think.”

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Randy Miller may be reached at [email protected].