There is clearly no fear from the Mets owner of the “Steve Cohen Tax.”
After reaching a stunning 12-year, $315 million contract agreement with star shortstop Carlos Correa, the Mets are fast approaching an unheard-of total payroll expense of $500 million.
Yes, half a billion dollars — a very doable outlay for a man worth a reported $17 billion.
As things stand, after the Mets finalize salaries for arbitration-eligible players, they are estimated to have a $381.21 million payroll before taxes.
The 2023 Mets are set to be charged $108.789 million in luxury tax, including $79.389 million on the fourth tax level — the “Steve Cohen Tax.”
That takes the Mets to just shy of $490 million in total payroll expense. And, the way things are going, Cohen may not be done trying to improve his 101-win team that was eliminated by the Padres in the wild-card round.
The previous highest payroll ever for luxury-tax purposes was the 2015 Dodgers at $341,486,133; their pre-tax payroll was $297,918,661. It’s possible the 2022 Dodgers or Mets top that as the figures for this year are not done yet.