12 teams 'cheaper' than the Twins based on 2024 payroll, 2023 revenue

It only takes a little bit of math to see how 2023 revenues compare to 2024 payrolls.

May 15, 2024; Minneapolis, Minnesota, USA; Minnesota Twins mascot T.C. Bear engages with fans in the game against the New York Yankees at Target Field. Mandatory Credit: Matt Blewett-USA TODAY Sports / Matt Blewett-USA TODAY Sports

Did you know that the Minnesota Twins spend a greater percentage of their 2023 revenue on 2024 payroll than the Boston Red Sox? It's true, although it needs to be put into context to fully understand how that's possible.

According to Forbes, the Twins made $342 million in revenue in 2023. That ranked 16th of 30 MLB teams. Minnesota's 2024 payroll is about $129 million, according to Spotrac, which ranks 19th in the majors.

Where do the Twins rank in terms when comparing 2024 payroll to 2023 revenue? By the numbers, the Twins are spending approximately 37.7% of the 2023 revenue on this season's roster. Believe it or not, there are 12 teams that qualify as "cheaper" based on that comparison.

Those cheaper teams include the Red Sox, Mariners, Nationals, Orioles, Brewers, Guardians, Reds, Pirates, Tigers, Rays, Marlins and Athletics. Take a look at the chart below for team-by-team details.

Team	2023 revenue	2024 payroll	Percent spent
Yankees	$679m	$307m	45.2%
Dodgers	$549m	$232m	42.2%
Cubs	$506m	$227m	44.8%
Red Sox	$500m	$181m	36.2%
Braves	$473m	$232m	49%
Phillies	$458m	$246m	53.7%
Astros	$445m	$250m	56.1%
Giants	$443m	$199m	44.9%
Rangers	$425m	$221m	52%
Mariners	$396m	$141m	35.6%
Mets	$393m	$312m	79.3%
Angels	$388m	$172m	44.3%
Cardinals	$372m	$174m	46.7%
Nationals	$355m	$108m	30.4%
Padres	$345m	$163m	47.2%
Twins	$342m	$129m	37.7%
Blue Jays	$328m	$223m	67.9%
Orioles	$328m	$101m	30.8%
Brewers	$320m	$109m	34%
Guardians	$315m	$100m	31.7%
Reds	$315m	$105m	33.3%
Diamondbacks	$314m	$171m	54.4%
Rockies	$313m	$145m	46.3%
Pirates	$309m	$84m	27.2%
Tigers	$306m	$107m	34.9%
Royals	$302m	$117m	38.7%
Rays	$301m	$94m	31.2%
Marlins	$295m	$100m	33.9%
White Sox	$288m	$135m	46.8%
Athletics	$241m	$63m	26.1%

Of course, it's highly unlikely that the Twins and other teams base their present payroll on the revenue numbers from the previous season. It's probably far more complex than that, but this goes to show that while the Twins get the "cheap" label from local critics, there are plenty of other teams that belong in the same conversation.