Carlos Correa Deal Gives Mets Jaw-Dropping Payroll For 2023 Season

The New York Mets just keep spending money.

While it was reasonable to think maybe Mets owner Steve Cohen would put away his checkbook for the winter after an offseason spending spree, New York made another significant splash early Wednesday morning, reportedly agreeing to a 12-year, $315 million contract with Carlos Correa after the All-Star shortstop’s previously agreed-upon 13-year, $350 million deal with the San Francisco Giants fell apart over an issue that arose during his physical examination.

The Mets’ estimated payroll for 2023 now sits around $384 million, assuming Correa’s deal is completed. And based on that number, New York would owe an additional $111 million in luxury tax payments, bringing the total bill to approximately $495 million.

As ESPN’s Jeff Passan pointed out Wednesday, no team in Major League Baseball history has ever surpassed a $350 million payroll — let alone nearly $500 million — so the Mets are positioned to exceed the previous high-water market by more than $150 million.

Cot's has the Mets with a total 2023 payroll bill of $495 million at the moment ($384m in player pay + $111m in luxury tax). Yes, that's a record https://t.co/1yF1vMZlLQ

— Travis Sawchik (@Travis_Sawchik) December 21, 2022

The Correa deal is the latest in what has been a crazy offseason for the Mets, who also added Justin Verlander (two years, $86.6 million), Kodai Senga (five years, $75 million), José Quintana (two years, $26 million) and David Robertson (one year, $10 million) in addition to re-signing Brandon Nimmo (eight years, $162 million), Edwin Díaz (five years, $102 million) and Adam Ottavino (two years, $14.5 million).

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The Mets had the second-highest payroll in MLB in 2022, but their offseason expenditures now have them atop the list by a substantial margin. New York is slated to pay a 90% tax on every dollar spent beyond the $293 million threshold — the fourth and highest tier of the competitive balance tax penalties — which speaks to the franchise’s all-in approach.

Even more jarring: The Mets already had a franchise shortstop in Francisco Lindor (who signed a 10-year, $341 million contract extension in 2021), so Correa presumably will shift to third base as part of a star-studded infield that also includes Jeff McNeil and Pete Alonso.