Mets owner Steve Cohen would like to be more measured in his spending
Sports
“I’m a piker now compared to the Dodgers,” Cohen said.
PORT ST. LUCIE, Fla. (AP) — After turning the New York Mets into baseball’s biggest spender, owner Steve Cohen would like to see his team build more economically through its farm system.
“I’d like to get below the Cohen tax,” Cohen said Tuesday, referring to the fourth luxury tax threshold introduced in 2022 and aimed at him.
“I’m sure it’s about me,” he added before saying playfully: “There’s a lot of Cohens out there.”
In search of their first World Series title since 1986, the Mets lost to the Los Angeles Dodgers in last year’s NL Championship Series. After signing Juan Soto to a record $765 million, 15-year contract and reaching deals with Pete Alonso, Sean Manaea, Clay Holmes, Frankie Montas and others, Cohen estimated his team’s payroll at $325 million. He thought additional moves could raise it to as much as $345 million.
The World Series champion Los Angeles Dodgers led with a $353 million tax payroll last year and paid a $103 million tax. The Mets were second at just under $348 million and paid $97 million in tax.
“I’m a piker now compared to the Dodgers,” Cohen said.
MLB’s luxury tax begins at $241 million this year and the fourth threshold starts at $301 million. The Mets will pay a 110% tax on each dollar spent above the highest threshold.
20%
43%
19%
