Steve Cohen put a five-year timeline on winning the World Series during his introductory press conference Tuesday as the New York Mets’ new owner. He also made the commitment to act like a major-market team with a substantial budget to match.
The Mets had the sixth-highest payroll in MLB last season at $81.6 million — $30 million less than the crosstown New York Yankees. The team’s payroll was ranked 13th in the league in 2019.
Cohen cleaned out the team’s front office after the sale was finalized earlier this month and will look to let new hires control baseball operations. He also said he’ll cover the lost wages of Mets employees from the pandemic and contribute $17 million to small businesses in NYC.
Top 2020 MLB Payrolls:
$111.9 million — New York Yankees
$108.4 million — Los Angeles Dodgers
$86.6 million — Chicago Cubs
$84.2 million — Boston Red Sox
$82.5 million — Houston Astros
$81.6 million — New York Mets
![Feb 20, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team USA forward Brady Tkachuk (7) celebrates scoring against Team Canada during the first period during the 4 Nations Face-Off ice hockey championship game at TD Garden.](https://frontofficesports.com/wp-content/uploads/2025/02/USATSI_25467641-scaled-e1740194593487.jpg?quality=100&w=1024)
![Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.](https://frontofficesports.com/wp-content/uploads/2025/02/USATSI_25429594_168416385_lowres-e1739674194139.jpg?quality=100&w=1024)
