PORT ST. LUCIE, Fla. — Steve Cohen, the owner of the New York Mets, has made it clear that his current level of spending won’t last forever. However, he’s also quick to admit that he’s said the same thing in previous years. Since acquiring the team, Cohen has consistently pushed the Mets’ payroll to record-breaking heights, surpassing the $300 million mark and incurring MLB’s highest Competitive Balance Tax, often referred to as the “Cohen Tax.” Yet, for now, the era of big spending continues.
“I wrestle with this all the time,” Cohen said during his annual State of the Mets address at Clover Park. “This year, I had a budget in mind, but circumstances forced me to adapt. I ended up spending more than I initially planned.”
One of the key factors driving this spending was the historic 765millioncontracttosignJuanSoto,thelargestinbaseballhistory.OthersignificantinvestmentsincludeddealsforSeanManaea(75 million), Pete Alonso (54million),ClayHolmes(38 million), and Frankie Montas (34million).Asaresult,theMets’payrollisestimatedtobebetween320 and $325 million for the upcoming season, slightly higher than last year’s figure. This number could rise further as the team navigates the challenges of a 162-game season.
The “Cohen Tax” threshold is set at $297 million, a mark the Mets have exceeded for three consecutive years. For every dollar spent above this limit, Cohen faces a 110% tax, along with additional penalties. The team has also been penalized in the draft, with their top 2024 pick moved back 10 spots—a setback for their development pipeline. Despite these financial and competitive costs, Cohen, MLB’s wealthiest https://www.storenymets.com/collections/luis-de-los-santos-jersey owner, confirmed that he has the resources to sustain this level of spending indefinitely.
“I want a winning team,” Cohen emphasized. “I want to put the best team possible on the field. This offseason, things just fell into place, and I had to make decisions accordingly.”
Cohen’s commitment to building a championship-caliber team was reinforced by the Mets’ thrilling performance in late September and October last year. “Traveling with the team during that stretch was one of the greatest joys of my life,” he said. “The emotions were incredible, and it made me want to experience that again.”
Looking ahead, Cohen has set high expectations for the Mets. At a minimum, he expects the team to make the playoffs in 2025. Ultimately, he aims for a World https://www.storenymets.com/collections/jose-iglesias-jersey Series title. “If we keep putting strong rosters on the field, I believe we can win a championship sooner rather than later,” he said.
Cohen’s confidence has grown over the years. Early in his ownership, he famously predicted a World Series win within 3-5 years. Now, five years into his tenure, he has a deeper understanding of the challenges involved. Yet, his ambition remains undiminished. During negotiations with Juan Soto this offseason, Cohen boldly stated that he believes the Mets can win “two to four” World Series over the next decade.
“Winning a World Series is incredibly difficult,” Cohen acknowledged. “But we’re not just building a team for one year—we’re aiming for sustainable success. If we keep making https://www.storenymets.com/collections/starling-marte-jersey the playoffs, why can’t we achieve the ultimate goal? Setting high expectations is how we’ll get there.”
Cohen’s bold vision and willingness to invest heavily have reignited hope among Mets fans. “You can always hope,” he said with a smile. “But I think there’s more than hope here. We’ve built a strong team, and I’m excited about what’s to come.”
As the Mets prepare for the upcoming season, Cohen’s unwavering commitment to success ensures that the team will remain a force to be reckoned with in Major League Baseball.
