The New York Mets led the major leagues in spending in the third season of 2024, earning a total of $136 billion in salary and luxury taxes over four years under owner Steve Cohen, exceeding what Merlin, Pirates and Rays each spent on players in the last 21 seasons.
Major League Baseball was confirmed this week, and the Mets have established a regular salary record of $333.3 million, according to figures obtained by the Associated Press.
When they became the first team topped $300 million with the previous $339.5 million mark set by the Mets in 2023.
New York totaled $430 million last year with salary and luxury taxes ($97.1 million). The Mets paid $420 million the previous year, including $108.8 million in taxes.
Since Cohen bought the team from the families of Fred Wilpon and Saul Katz in November 2020, the Mets have been paid $230 million and taxes are $208.7 million.
And that was a 15-year contract with outfielder Juan Soto, who begins this season, even before he lost a record $765 million.
“If you want one of the things I learned a long time ago, something amazing, it's going to be uncomfortable,” Cohen said in December.
Expenditures for New York's major league players from 2021-24 exceeded the salaries of the Marlins ($1.34 billion), Pirates ($1.32 billion), and Rays ($1.32 billion) from 2004-24.
By comparison, Oakland has spent $269 million over the past four seasons, while Pittsburgh has spent $271 million.
Total expenditures based on regular pay increased by 1.8% from $5.065 billion last year to $5.065 billion, up 27.3% from $4.051 billion in 2021 over three seasons under current labor contracts.
The Mets became the first team to lead pay in three consecutive seasons since the 2014-17 Los Angeles Dodgers.
The Yankees were second in their team record of a regular salary of $310 million. The World Series champion Dodgers were fourth with $270.8 million and Philadelphia was fourth with $249.1 million.
Ten teams have surpassed $200 million from their record 11 in 2023. The record four teams fell below $100 million, down from six in 2023.
Of his $70 million salary, $68 million has been postponed from 2034-43 to 43, so Shohei Ohtani will be $1.03 million in non-cash compensation, in addition to his $28.2 million salary.
Oakland moved to Sacramento for at least three seasons prior to his shift to Las Vegas at a minimum salary of $66.5 million in its final season. Pittsburgh ranked 29th with $87.3 million.
Oakland, Pittsburgh and Tampa are the only teams that never end with a $100 million payroll.
The 12 teams that reached the postseason spent $2.37 billion, 46%, including 46% of their salaries, including $1.02 billion (19.9%) for the four teams in the League Championship Series. The Dodgers and Al Champion Yankees were combined for $644.2 million (12.5%).
Four LCS teams, with pay and luxury tax added, combined 23.5% of total spending ($12.9 billion of $5.47 billion) and the Yankees and Dodgers at 13.7% ($747.3 million).
Arizona has maximized $177 million from $48 million after winning the NL Pennant. ChicagoCubs was second-highest at $34 million to $230 million.
San Diego cut its salary from $85 million to $172 million in 2024 after the death of owner Peter Saidler.
The Los Angeles Angels fell from $51 million to $179 million, while Minnesota fell from $34 million to $133 million.
Regular pay is based on 2024 salary, earning bonuses, and relatively stocks of signature bonuses and non-cash compensation for the 40-person roster. Deferred pay and bonus payments will be discounted against current value and take into account inter-club termination payments, option acquisitions and cash transactions.
MLB calculated the average salary at $4,592,147, while the Players Association pinned it at $4,655,366 using a slightly different methodology.
High-end taxes are based on salary with an average annual value, including benefits and preschool bonus pools.
