New York Mets owner Steve Cohen saw his with a tax payroll of $274.7 million, according to figures finalized by Major League Baseball on Thursday and obtained by The Associated Press.
NEW YORK — The New York Mets must pay a record luxury tax of nearly $101 million after a fourth-place finish in their division, among an unprecedented eight teams that owe the penalty for the 2023 season.
Owner Steve Cohen’s Mets finished with a tax payroll of $374.7 million, according to figures finalized by Major League Baseball on Thursday and obtained by The Associated Press. That topped the previous high of $291.1 million by the 2015 Los Angeles Dodgers.
The Mets’ tax bill came to $100,781,932 after they finished fourth in the NL East at 75-87 in the most expensive flop in baseball history. That more than doubled the prior high of $43.6 million by the 2015 Dodgers.
The Mets saved about $18 million for this year with their summer selloff that saw them trade Max Scherzer, Justin Verlander, David Robertson and Mark Canha. Their projected tax payroll on June 30 was $384 million, according to MLB, and that additional $9.3 million in payroll would have resulted in a tax $8.4 million higher.
The final amount owed by the Mets would have been slightly more, but they benefited from a tax credit of $2,126,471 under a provision in the latest collective bargaining agreement for a payroll overcharge involving three players they traded. New York’s two-year tax total is $131.6 million.
Other teams owing tax money are San Diego ($39.7 million), the New York Yankees ($32.4 million), the Dodgers ($19.4 million), Philadelphia ($6.98 million), Toronto ($5.5 million), Atlanta ($3.2 million) and World Series champion Texas ($1.8 million). The Blue Jays, Braves and Rangers are paying tax for the first time.
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Mets hit with record luxury tax after fourth-place finish
ASSOCIATED PRESS Dec 23, 2023 Updated Dec 23, 2023 0
Luxury Tax Baseball
New York Mets owner Steve Cohen saw his franchise finish with a tax payroll of $374.7 million, according to figures finalized by Major League Baseball on Thursday and obtained by The Associated Press.
Mary Altaffer, Associated Press
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ASSOCIATED PRESS
NEW YORK — The New York Mets must pay a record luxury tax of nearly $101 million after a fourth-place finish in their division, among an unprecedented eight teams that owe the penalty for the 2023 season.
Owner Steve Cohen’s Mets finished with a tax payroll of $374.7 million, according to figures finalized by Major League Baseball on Thursday and obtained by The Associated Press. That topped the previous high of $291.1 million by the 2015 Los Angeles Dodgers.
The Mets’ tax bill came to $100,781,932 after they finished fourth in the NL East at 75-87 in the most expensive flop in baseball history. That more than doubled the prior high of $43.6 million by the 2015 Dodgers.
The Mets saved about $18 million for this year with their summer selloff that saw them trade Max Scherzer, Justin Verlander, David Robertson and Mark Canha. Their projected tax payroll on June 30 was $384 million, according to MLB, and that additional $9.3 million in payroll would have resulted in a tax $8.4 million higher.
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The final amount owed by the Mets would have been slightly more, but they benefited from a tax credit of $2,126,471 under a provision in the latest collective bargaining agreement for a payroll overcharge involving three players they traded. New York’s two-year tax total is $131.6 million.
Other teams owing tax money are San Diego ($39.7 million), the New York Yankees ($32.4 million), the Dodgers ($19.4 million), Philadelphia ($6.98 million), Toronto ($5.5 million), Atlanta ($3.2 million) and World Series champion Texas ($1.8 million). The Blue Jays, Braves and Rangers are paying tax for the first time.
The Yankees and Mets were the only teams to exceed the fourth threshold of $293 million, added in the 2022 labor contract, an initiative dubbed the Cohen Tax and aimed at reigning in Cohen.
The previous high for taxpayers was six, in 2016 and last year. This year’s tax totaled $209.8 million, more than double the prior record of $78.5 million for 2022.
The Los Angeles Angels finished with a tax payroll $28,654 below the $233 million tax threshold. The Angels were projected at $231.15 million on June 30 and got under by allowing pitchers Lucas Giolito, Matt Moore, Dominic Leone and Reynaldo López along with outfielder Hunter Renfroe to be claimed off waivers on Aug. 31.
