December 27, 2022 - BY Admin

MLB owners reportedly unhappy with Steve Cohen’s spending spree: ‘I think it’s going to have consequences for him down the road’

The statistics speak for themselves: For the 2017 season, the salary will be $384.7 million, plus around $111 million in luxury tax payments. And a whopping $806.1 million committed in a single offseason. New York Mets owner Steve Cohen is not thrifty with his money, which has enraged certain executives and owners of other MLB teams.


Despite (or because of) the feeble "no collaboration" caveat, that seems like a carefully veiled menace. And it demonstrates how uneasy Cohen's buying binge makes teams that have hitherto operated in fairly identical lanes.


In the early hours of Wednesday morning, Cohen swooped in to entice shortstop Carlos Correa away from the floundering San Francisco Giants, capping off possibly the strangest offseason by an individual franchise in a long time. It's unusual since the $111 million luxury tax charge would exceed the combined payroll of at least ten MLB teams. The $315 million paid to acquire Correa is the most money spent on free agents by the Pittsburgh Pirates in more than a decade.


While players, agents, and Mets fans applaud these actions, the other 29 clubs are concerned about the impact of Cohen's money. How do they compete with a billionaire's power and might 17.5 times over? Especially because there is no hard ceiling to limit his market-leading deals?


Given that Cohen exceeded the $293 million threshold despite the 90% tax on every dollar over the cap, some owners may desire an even stiffer luxury tax than the one agreed upon in the current CBA that ended the lockout last spring. Others may propose a pay restriction to curb Cohen's spending, something the MLB Players Association has vehemently and effectively opposed.


But those debates are years away, and it appears like Cohen will continue to construct the Mets the way he sees proper, with whatever money he decides to spend.