New York totaled $430.4 million last year in payroll and luxury tax ($97.1 million) to set a cost record. The Mets paid $420 million the year before, including a $100.8 million tax.
Since Cohen bought the team from the Fred Wilpon and Saul Katz families in November 2020, the Mets have totaled $1.13 billion in payroll and $228.7 million in tax. And that was even before he lavished a record $765 million, 15-year contract on outfielder Juan Soto that starts this season.
“One thing I’ve learned a long time ago, if you want something that’s amazing, it’s going to be uncomfortable,” Cohen said in December.
New York's spending on major league players for 2021-24 was just above what the payrolls from 2004-24 totaled for the Marlins ($1.34 billion), Pirates ($1.32 billion) and Rays ($1.32 billion).
By comparison, Oakland has spent a low of $269 million over the past four seasons and Pittsburgh $271 million.
Total spending, based on regular payrolls, rose 1.8% to $5.158 billion from $5.065 billion last year and has increased 27.3% in three seasons under the current labor contract from $4.051 billion in 2021.
The Mets became the first team to lead in payrolls in three straight seasons since the Los Angeles Dodgers from 2014-17.
The Yankees were second among regular payrolls at a team record $310.9 million. The World Series champion Dodgers were third at $270.8 million and Philadelphia fourth at $249.1 million.
Ten teams topped $200 million, down from a record 11 in 2023. A record-low four teams were below $100 million, a decrease from six in 2023.
Because $68 million of his $70 million salary is deferred until from 2034-43, Shohei Ohtani totals $28.2 million in salary toward payroll plus $1.03 million in non-cash compensation.
Oakland had the lowest payroll at $66.5 million in its final season before moving to Sacramento for at least three seasons before a planned shift to Las Vegas. Pittsburgh was 29th at $87.3 million.
Oakland, Pittsburgh and Tampa are the only teams never to finish with a $100 million payroll.
The 12 teams that reached the postseason combined to spend $2.37 billion, 46% of payrolls, including $1.02 billion (19.9%) for the four teams in the League Championship Series. The Dodgers and AL champion Yankees combined for $644.2 million (12.5%).
Adding payroll and luxury tax, the four LCS teams combined for 23.5% of total spending ($1.29 billion of $5.47 billion) and the Yankees and Dodgers for 13.7% ($747.3 million).
Arizona raised payroll the most, by $48 million to $177 million after winning the NL pennant, and the Chicago Cubs were the second-most, by $34 million to $230 million.
San Diego cut payroll by $85 million to $172 million in 2024 following the death of owner Peter Seidler. The Los Angeles Angels dropped $51 million to $179 million and Minnesota by $34 million to $133 million.
Regular payrolls are based on 2024 salaries, earned bonuses and prorated shares of signing bonuses and non-cash compensation for 40-man rosters. Deferred salaries and bonus payments are discounted to present-day values, and termination pay, option buyouts and cash transactions among clubs are accounted for.
MLB calculated the average salary at $4,592,147, while the players' association, using a slightly different methodology, pegged it at $4,655,366.
Luxury tax is based on payrolls with average annual values that include benefits and the pre-arbitration bonus poo l.
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Credit: AP