Owner Steve Cohen of the New York Mets expressed his desire to see the team focus on building economically through its farm system, aiming to reduce spending and stay below the luxury tax threshold introduced in 2022. Cohen, known for turning the Mets into one of baseball's biggest spenders, acknowledged the need for a more sustainable approach to team building.
Despite the Mets' recent high-profile signings, including a record-breaking contract with Juan Soto, Cohen estimated the team's payroll to be around $325 million, with potential to reach $345 million with additional moves. The Mets ranked second in payroll spending last year, behind the World Series champion Los Angeles Dodgers.
With MLB's luxury tax starting at $241 million this year and a fourth threshold at $301 million, the Mets will face a 110% tax on expenditures exceeding the highest threshold. Cohen emphasized the importance of making the playoffs and striving for a World Series title, highlighting the need for a balanced approach to roster construction.
Cohen expressed a desire to develop more prospects internally to reduce reliance on expensive free agent signings. While acknowledging his willingness to spend for success, he also recognized the challenges of sustaining high payroll growth. He refrained from commenting on the potential implementation of a salary cap in MLB's future negotiations.
Addressing concerns about attendance, Cohen expressed disappointment with the team's 18th ranking in attendance last year. He emphasized the importance of fan support during critical moments in the season and stressed the need for increased engagement from the fan base.
Regarding the Willets Point redevelopment project, Cohen stated that progress would depend on rezoning and obtaining a casino license. The proposed mixed-use development on a 50-acre parcel of land currently used for Citi Field parking remains contingent on regulatory approvals.
As the Mets look to balance competitiveness with financial sustainability, Cohen's strategic vision aims to position the team for long-term success while navigating the complexities of modern baseball economics.
