Mets' Cohen Exceeds Payroll Projections with $765M Soto Deal

New York Mets owner Steve Cohen has acknowledged that the team's payroll for the 2025 season has exceeded his initial expectations, primarily due to the historic 15-year, $765 million contract awarded to superstar Juan Soto. Cohen admitted that he aimed for a more measured approach to payroll growth but ended up 'blowing through' his budget during a spending spree this offseason. The Mets' luxury-tax payroll currently sits around $330 million, approximately $90 million over the threshold, which will result in nearly $75 million in luxury tax fees. Cohen expressed a desire to reduce spending and avoid the so-called 'Cohen Tax,' a surcharge for exceeding the luxury tax limit by more than $60 million. He emphasized the importance of developing talent through the minor leagues to maintain roster flexibility and reduce reliance on expensive free agents. Despite the hefty payroll, Cohen remains committed to building a winning team, acknowledging the challenges of sustained success in such a financially demanding environment.