I usually don't get into those "the Yankees spend too much money!" arguments because I'm a Red Sox fan, and my team spends quite a bit of money as well (though the Yankees are still on a whole different level). Fortunately, the current administration is better than the previous one about trying to retain their good prospects and grow the team from there when possible.
True. I mean looking at the major impact players on the Sox, they were either homegrown, or aquired through trades. Yes, there are some large contracts on the team (here is looking at you J.D. Drew), but they overall have been nicely assembled.