Mets Already Exceed Luxury Tax On 11 Club Salaries

Mets Already Exceed Luxury Tax On 11 Club Salaries

Steve Cohen is the richest owner of a major league team. Forbes estimates his manager’s fortune in this fund at $17.4 million. Clearly, World’s obsession with “buying” his series has no limits to green votes.

The Mets’ owners have given management the green light to approve the checks as their clients demanded and they are due to pay record fines in 2023.

Since the market opened, the Mets have already had Brandon Nimo ($162 million over 8 years), Edwin Diaz ($102 million over 5 years) and Justin Verlander ($88.6 million over 2 years). have a contract.

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They also added José Quintana ($26 million over 2 courses) and David Robinson ($10 million over 1 course) without yet agreeing which player the team could go to arbitration.

These commitments raised the club’s payroll costs next year to $315,283,332. That’s $82,283,332 above the league’s 2023 salary cap and more than the previous 40 rosters for the Diamondbacks, Rays, Twins, Guardians, Marlins, Brewers, Reds, Royals, Pirates, Orioles and Athletics. Surplus amount that already exceeds the payment obligation.

The Yankees are $11,283,334 away from breaking the cap.

how is it calculated?

If a team exceeds the cap, it will be $233 million next year and will have to pay a base fee of 20% of the overage for the first time. If the same team exceeds the threshold for his second year in a row, he will have to pay 30% and will be penalized with his 50% for the excess in the third or more consecutive years.

Half of the taxed amount will be distributed to the teams that did not exceed the limit, and the rest will help the players’ union plan.

It is the annual average for each player that is part of the tax calculation structure, not the salary that player earns for that year.

Edwin Diaz receives an average of $20.4 million, but in 2023 his salary income will be $17.2 million. The amount of luxury tax that MLB will take into consideration will be US$20.4 million.

Graduated from the Department of Social Communication at O&M University. Journalist specializing in sports since 2001.

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