On Saturday, the New York Mets acquired right-handed starter Chris Bassitt from the Oakland Athletics, continuing what's been a busy offseason. Prior to the MLB lockout, the Mets signed a number of familiar names, including ace Max Scherzer, outfielder Starling Marte, and utility players Mark Canha and Eduardo Escobar. Factor in last winter's additions, like Francisco Lindor and Carlos Carrasco, and the Mets have made good on owner Steve Cohen's promise to behave more like a large-market behemoth.
Predictably, Cohen answered in the affirmative when he was asked on Sunday if the Mets will go over the new fourth tier of the Competitive Balance Tax threshold this season. "We probably will," he told MLB.com's Anthony DiComo.
"Listen, $290 million is a lot of money to spend overall. So like I said before, I’m OK with it and I’m willing to live with it and we’ll leave it with that.”
— SNY (@SNYtv) March 13, 2022
Steve Cohen says the Mets "probably will" exceed the $290 million threshold https://t.co/tLTVHDZbMR pic.twitter.com/4kmfXpQ9Dk
The lowest tier of the new Collective Bargaining Agreement set this year's threshold at $230 million. Teams must pay an overage fee for every dollar they spend over the threshold, with those penalties increasing with every additional $20 million. The new CBA also added a new tax tier for clubs who exceed the threshold by more than $60 million that is purportedly aimed at curbing Cohen's breakaway spending. Previously, the steepest penalty was applied for teams who went over the line by at least $40 million.
| Tax tier | Threshold | Tax rate |
|---|---|---|
First | $230 million | 20% |
Second | $250 million | 32% |
Third | $270 million | 62.5% |
Fourth | $290 million | 80% |
The Mets, as constructed, are already beyond that $40 million mark, according to Cot's Contracts. They have about $36 million in wiggle room between them and the highest threshold. While that number will increase if they trade J.D. Davis, Jeff McNeil, or Dominic Smith, it won't be by much; none of those players are projected to make more than $4 million through arbitration, per MLB Trade Rumors' model.
Whatever breathing room the Mets gain by trading one of those could be negated by their desire to make further additions this offseason. Since the lockout ended, the Mets have been linked to a variety of relievers, and they reportedly reached an agreement with Adam Ottavino on Sunday worth $4 million, pushing them closer to the $250 million mark. That gives the Mets just over $40 million to play with, and that's without factoring in further offseason and midseason additions, if the team plays well.
In other words, Cohen is being reasonable to say the Mets could exceed the highest CBT threshold -- even if it's to the chagrin of the rest of the owners.
