NEW YORK (news agencies) — The New York Mets led the major leagues in spending for the third straight season in 2024 and have totaled $1.36 billion in payroll and luxury tax over four years under owner Steve Cohen, exceeding what the Marlins, Pirates and Rays each have spent on players in the past 21 seasons.
The Mets established a $333.3 million regular payroll record, according to figures finalized by Major League Baseball this week and obtained by media. That topped the previous mark of $319.5 million set by the Mets in 2023, when they became the first team to exceed $300 million.
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%).
United Arab Emirates Dirham Exchange Rate
