Winning isn’t just a goal for the New York Mets—it’s an obsession. And with Steve Cohen at the helm, the team has the financial muscle to chase that dream at full throttle.
Cohen, the wealthiest owner in Major League Baseball, isn’t just another billionaire in a suit. He’s a die-hard Mets fan, living out the fantasy of every supporter who’s ever wished they could take control of their favorite team and spend whatever it takes to bring home a title.
That passion has come with a hefty price tag. In 2024, for the third straight season, the Mets led all teams in payroll, shelling out $333.3 million in player salaries.
That’s even more than the $319.5 million they dished out in 2023 when they became the first team in history to crack the $300 million barrier.
The Cost of Chasing Greatness
Spending big doesn’t just stop at payroll. Luxury tax penalties hit the Mets hard, costing them an additional $97.1 million last year. To put that in perspective, that tax payment alone was more than the entire payrolls of the Tampa Bay Rays ($90 million), Pittsburgh Pirates ($87 million), and Oakland Athletics ($66 million).
When all was said and done, the Mets’ total bill for 2024—salaries plus taxes—topped out at a staggering $430.4 million, breaking their own MLB record of $420 million from the year before.
And Cohen’s deep pockets have been a consistent force. Since he took over, the Mets have spent $1.13 billion on payroll and another $228.7 million in luxury taxes.
That’s more than the entire payrolls of three franchises—Miami, Pittsburgh, and Tampa Bay—over the last 20 years combined.
A High-Stakes Gamble
Despite their aggressive spending, the Mets won’t enter 2025 as the highest-paying team in the league. That title now belongs to the Los Angeles Dodgers, even after the Mets locked in Juan Soto on a jaw-dropping $765 million deal.
Still, Cohen’s willingness to break records year after year shows that the Mets aren’t backing down from the fight.
Cohen himself summed it up best in December: “One thing I’ve learned a long time ago, if you want something that’s amazing, it’s going to be uncomfortable.”
The Mets are playing a high-stakes game, but as long as Cohen is in charge, they won’t be cutting corners on their pursuit of greatness.
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