Mets Owe Record MLB Luxury Tax Despite Disastrous Season

It was a rough (and expensive) season for New York.

A fourth-place finish in the NL East was certainly not what the New York Mets envisioned ahead of the start of the 2023 season.

Neither was the luxury tax bill that needed to be footed by owner Steve Cohen to the tune of $100.7 million. The final total of $100,781,932 was a major league record.

The record tax bill was due to Cohen’s outlandish spending for the 2023 roster. New York’s payroll finished the year at $374.7 million, despite a record of just 75–87.

Cohen will foot a hefty luxury tax bill despite his Mets finishing well under .500 :: Brad Penner/USA TODAY Sports

The Mets were well out of contention by the trade deadline this summer, and Cohen allowed baseball operations to trade pitchers Max Scherzer, Justin Verlander and David Robertson, as well as outfielder Mark Canha in an effort to shed some payroll.

Ultimately, that allowed Cohen to save $8.4 million off his record tax bill.

The Mets will enter the 2024 season with slightly tempered expectations relative to last season, but with one of the top payrolls in baseball once again, a contending team would be welcomed in Queens.