The New York Yankees, who are worth $8.2 billion (according to Forbes), are the most successful MLB franchise with 27 World Series titles to their name. While they have not won one since 2009, they are still far away from second-place St. Louis Cardinals, who have won 11 World Series.That's why it was a little surprising for fans to learn that the franchise is hardly making profits and that owner Hal Steinbrenner wants to reduce the team's payroll in 2026. MLB insider Gary Sheffield Jr. finds the owner's thoughts "hilarious," paving the way for such reactions from fans."Then he should sell the team," one fan reacted."Never seen a billionaire act so broke," another added."It’s incredibly funny how committed to the “I’m just a poor little guy” act these owners are, probably hoping it works to their advantage the next time they need tax payer funds for their operation," one fan commented."The Mamdani effect. Even the Yankees are broke," another added."He’s just talking about the Yankees. But he also gets revenue from YES and the marketing deal he has with Jerry Jones," another noted."Theres no crying in baseball Hal!" one fan said.What Hal Steinbrenner said about Yankees financials?While on the revenue front, the Yankees are doing fine, but when it comes to accounting for the cost side of the ledger, one would have a reason to believe why the franchise is pushing for lower payroll in 2026, according to owner Hal Steinbrenner."I don't want to get into it, but that's not a fair statement or an accurate statement," Steinbrenner said about Yankees' financials. "Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million dollar expense to the City of New York that we have to pay every February 1, including the Covid year. So it all starts to add up in a hurry."Bryan Hoch ⚾️ @BryanHochLINKHal Steinbrenner said it is "not fair" to assume the Yankees make a profit. "I don't want to get into it, but that's not a fair statement or an accurate statement. Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million dollarThe Yankees are looking to keep their payroll under $300 million for the 2026 season after having $319 million for the 2025 season. Meanwhile, Yankees general manager Brian Cashman also confirmed this limit but said it won't stop them from making the team better if an opportunity comes around.The Yankees' payroll has already touched $281 million after Trent Grisham accepted the one-year, $22.025 million qualifying offer.This means the Yankees will definitely go above $300 million if they want re-sign Cody Bellinger or any other blue chip free agent.