NY Mets SLAMMED with record $101 million luxury tax after disappointing 2023 season

The New York Mets have been hit with a record MLB luxury tax of over $100 million for the 2023 season.

NY Mets SLAMMED with record $101 million luxury tax after disappointing 2023 season

Steve Cohen (Image via San Diego Union-Tribune)

The year 2023 has been one to forget for the New York Mets. As the year enters its final week, the Mets are hoping that the new year can bring in some luck and changes in their fortune. This comes into view after the team was slammed with a record $101 million luxury tax.

As the league does not include a salary cap unlike other sporting leagues across the US, they use the luxury tax also called the Competitive Balance Tax (CBT). As per the MLB, this is used as a deterrent to prevent wealthier teams from overspending compared to other teams in the league.

YouTube video

A predetermined limit is set for teams on the amount allowed to spend on one season. Taking into the calculations of the total salaries of every player, the teams that cross this limit are penalized. The teams are then required to pay taxes to the commissioner’s office and also lose some draft picks.

FS Video

This year, the Mets finished the season with a payroll of $374.7 million. This number could have been higher had they not cut off their ties with Justin Verlander, Max Scherzer, Mark Canha, and David Robertson.

As a result of this, the Mets have been hit with an astonishing figure of over $100 million. This also comes in the season where they finished fourth with a negative record 75-87 record. It is also the record tax any team has been hit with. The previous one belonged to the LA Dodgers at $43.6 million in 2015.

Which other teams have been hit by the luxury tax this year?

The New York Mets had a disappointing campaign in 2023 and have now been hit with a huge luxury tax. One positive thing for them from this is that they are not the only team to have been hit with this. A total of eight teams including them have been charged with it with the Mets’ city rival the New York Yankees third on the list.

Just like the Mets, the Yankees did not have a memorable season. They too finished fourth in their table with an 82-80 record and missed out on playoffs for the first time since 2016.

Hal Steinbrenner
NY Yankees owner Hal Steinbrenner (Image via The Seattle Times)

The San Diego Padres are second on the list with $39 million between the two New York teams. The other teams on the list are the Los Angeles Dodgers, Philadelphia Phillies, Toronto Blue Jays, Atlanta Braves, and the Texas Rangers. This is the first time the Rangers, Braves, and the Blue Jays will pay this tax.

This will be the second straight year where the Yankees, Phillies, and Mets will be required to pay this sum. Meanwhile, the two National League West sides, the Dodgers and the Padres are subjected to this for a third year running.

In case you missed it: