New York Mets’ Record-Breaking $420 Million Expense for a Disappointing 2023 Season Comes to Light

Imagine being a New York Mets fan and seeing your team signing superstar after superstar. “Finally they’re going for the World Series,” you think and start watching the games. But slowly that optimism breaks as the team continues to lose and suddenly you see “the most expensive team” in baseball history is 4th in its division. The pain was high for the Mets fans but looks like it wasn’t any less severe for the management. The final cost of the 2023 season paints a disastrous picture for the Metsies.

The Kings of the Queens created history last season. No team in history had ever crossed $300 million in payrolls until Steve Cohen-led Mets did it in 2023. However, MLB has now finalized its payroll figures for last season. As AP News reports – the Mets’ total cost for 2023 stands at a whopping $420 million!

Not all of is their payroll. According to the report, the Mets’ payroll for 2023 was $319.5 million. But because of such sky-high expenses, their luxury tax number grew to a record-breaking $100.8 million! All of that added up to a number that’s slightly over $420 million. Ironically after such a great investment the Mets ended up having a 75-87 record in the NL East and were 29 games behind the division winners the Atlanta Braves.

Interestingly, the Mets lowered their expenses after a midseason trading extravaganza. The team ended up jettisoning players like Max Scherzer and Justin Verlander (though they still paid the bulk of their salaries). One can understand the kind of pressure 2023 put on the Mets’ finances – the team couldn’t spend much in 2024’s offseason. Yet their payroll remains over $300 million. 

However, the Mets were alone in feeling the heat. 2023 was a weird year. The top three highest spenders missed the playoffs. On top of that the World Series was played by a team with just over 1/3rd the expense of the Mets.

Money doesn’t always mean success – the Mets and Yankees’ 2023 in a nutshell

While the Mets raced ahead of the pack with their payroll, the New York Yankees’ story isn’t any less tragic. The Bronx Bombers had the second-highest payroll at $283.8 million but ended up coming fourth in the AL East. The Baltimore Orioles with a measly $79.2 million payroll won the Yankees’ division. It’s quite a coincidence that both the New York teams spent heavy bucks just to come fourth in their division. Similarly, the San Diego Padres ($257.2 million) couldn’t qualify for the playoffs too.

In the end, the World Series was played between the 6th highest payrolled Texas Rangers and the 20th-ranked Arizona Diamondbacks. It once again showed how big of an equalizer baseball happens to be. One can buy stars but it’s all about what happens on the field. Perhaps that’s why one isn’t surprised when small teams beat giants. After all, in baseball, there are no giants that can’t be slayed.