Red Sox willing to go over luxury tax threshold

The Boston Red Sox are all in. 

After announcing the signings of both Hanley Ramirez and Pablo Sandoval on Tuesday at a total price tag of $183 million, principal owner John Henry said the Red Sox are willing to go over the $189-million luxury tax threshold for one year. 

“The way it’€™s structured we can blow through one year,” Henry told Rob Bradford of WEEI. “Again for next year we have tremendous flexibility so we could go could through for one year and not overly effect us.”

The Red Sox's primary focus has turned to upgrading their pitching staff, with reacquiring free-agent left-hander Jon Lester the top priority.  

When asked if he was optimistic about signing Lester, Henry said, "I am. I'm hopeful."

The Red Sox have no shortage of competition for Lester, who was reportedly offered a deal worth more than $135 million from the Chicago Cubs. He is also set to meet with the Giants at some point next week. The soon-to-be 31-year-old met with Boston earlier this month and received an offer believed to be in the range of $110-$120 million over six years. 

With the addition of Ramirez and Sandoval's contracts, Boston's payroll currently sits at $151 million next season, according to Cots baseball.

Major League Baseball's luxury tax is expected to remain at $189 million through the 2016 season. The Red Sox have exceeded the tax six times and would be required to pay 50 percent of the amount they are over the cap as a penalty.