The New York Mets entered 2023 with high hopes and a team full of high-priced stars.
The high hopes faded in a disastrous 75-87 season, but the stars still got paid, as the Mets boasted MLB’s highest payroll ($374.7 million).
And now for the kicker — ESPN reports the Mets will have to pay a record luxury tax of almost $101 million on that bloated payroll. MLB confirmed that figure this week.
That smashes the previous luxury tax record of $43.6 million paid by the 2015 Los Angeles Dodgers. It also nearly equals the amount of luxury tax paid by the seven other teams hit with the tax for 2023. The San Diego Padres were second on the tax list at $39.7 million, while the New York Yankees ($32.4 million), and Dodgers ($19.4 million) also got hit with big bills.
Teams seeing more manageable taxes were the Philadelphia Phillies, with a $6.98 million luxury tax, Toronto Blue Jays ($5.5 million) and Atlanta Braves ($3.2 million).
And the Texas Rangers will pay a $1.8 million tax, money well spent considering their World Series championship.
The fact the Mets got smacked with a record tax should surprise no one. After all, owner Steve Cohen’s free-spending ways even resulted in MLB increasing taxes on teams exceeding a $293 million payroll, a level dubbed the “Cohen Tax.”
Many MLB fans reacting to the news agreed that Cohen can easily pay that bill.
They. Can. Afford. It.
— ˙ɹǝʞɐʇᴉɥʍ ʇsǝɹoɟ (@kthomson99) December 23, 2023
The Mets owe $101,000,000 in luxury tax penalties, and that money will be disbursed to small-market teams
Also, those small-market teams who cry poor will essentially start the season profitable due to TV money
The Pirates/Orioles/Rays/Guardians/A’s are running out of excuses pic.twitter.com/Zq7LLHf3tL
— Fuzzy (@fuzzyfromyt) December 23, 2023
The Steve Cohen Luxury Tax was to prevent a "SUPER TEAM" that Cohen could put together with the money. YET the #Dodgers do exactly what every owner thought Cohen would do and all I hear us 🦗🦗🦗
— Talking Mets With Rob (@TMWRNYM) December 22, 2023
Thier owners net worth has gone up some $5 billion since he bought the team 3 years ago. I think it’ll be ok
— MetsFan77 (@M3tsFan77) December 23, 2023
And here’s the fun part: that $100M is just about half a percent of Steve Cohen’s total net worth.
— Anthony Schorling (@aschorling34) December 23, 2023
[ESPN]
