Thanks to a surge in the value of free agent contracts, MLB payrolls are reaching heights never seen before. Following the shocking news of Carlos Correa snubbing the San Francisco Giants in favor of the New York Mets, Steve Cohen and the Mets are now the proud owners of the highest payroll in MLB history.
After the Giants’ medical staff found cause for concern following Correa’s standard physical examination, the free agent shortstop elected to abandon his deal with San Francisco, immediately signing a 12-year, $315 million deal with the New York Mets. If Correa passes his physical with New York, the team will have spent over $800 million this offseason.
“Carlos Correa before getting on Steve Cohen’s private jet,” – Extend Rafael Devers
With the New York Mets on pace to set a new record for single-season MLB payrolls, here is a closer look at the top three most expensive teams next season.
1. MLB Payrolls: $495 million, New York Mets
The Mets will enter the 2023 campaign with the highest payroll in MLB history, with an estimated $384 million owed to the roster. Couple the payroll with the more than $111 million luxury tax bill, and the 2023 season will cost Steve Cohen roughly $495 million.
The Mets have a higher payroll than 10 other MLB teams COMBINED https://t.co/onuRCTpLFq
“The Mets have a higher payroll than 10 other MLB teams COMBINED,” – Barstool Sportsbook
After a spending spree of $806 million, the Mets added Justin Verlander, Carlos Correa, Jose Quintana, Kodai Senga, Omar Narvaez, Jose Peraza, and David Robertson, while also re-signing Edwin Diaz, Brandon Nimmo, and Adam Ottavino.
2. $310 million, New York Yankees
The New York Yankees’ main objective this offseason was securing the reigning American League MVP Aaron Judge. After the slugger agreed to a 9-year, $360 million, the Yankees accomplished their mission. The deal made Judge the highest-paid position player in the league, with an average annual salary of $40 million.
The Yankees also landed free agent starting pitcher Carlos Rodon, locking up the superstar pitcher to a six-year, $162 million deal.
New York was able to cut into some of its projected 2023 salaries by not re-signing free agents such as Aroldis Chapman, Andrew Benintendi, and Jameson Taillon.
3. $251 million, San Diego Padres
The third highest on the list of MLB payrolls is the San Diego Padres. Always a major player in MLB transactions, the Friars landed free agent shortstop Xander Bogaerts. The team landed the 30-year-old on an 11-year, $280 million deal, adding $25,454,545 to their 2023 MLB payroll.
“what a time to be alive where the San Diego Padres have the 3rd-highest payroll in baseball lmao,” – @brent858
The Padres also added free agents Matt Carpenter ($6.5 million) and Seth Lugo ($7.5 million), making the team the third most expensive heading into the 2023 campaign.
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