The New York Mets are in very rough shape financially. They have a payroll of over $328 million, which is the most in baseball. They signed Juan Soto to a contract worth nearly $800 million in December 2024. And yet, the Mets are in last place in the NL East.
New York’s struggles resulted in the firing of manager Carlos Mendoza, although it’s abundantly clear that the Mets’ issues start at the top.
Steve Cohen bought the franchise in November 2020, promising that he would turn things around and deliver Queens its first World Series title since 1986. But the Mets aren’t even close.
In fact, New York has made the playoffs just twice since Cohen assumed ownership duties, winning 90 games only once.
And on Wednesday, the Mets absorbed their latest financial blow, as they owed annual money to two former stars who are long retired: Bobby Bonilla and Bret Saberhagen.
Every July 1, New York must pay $1.19 million to Bonilla and $250,000 to Saberhagen, two players who have not appeared in a big-league game since 2001.
Bonilla last played for the Mets in 1999. The two sides agreed to a $5.9 million buyout after the season with deferred payments, starting in July 2011 and running through July 2035.
Meanwhile, Saberhagen inked a three-year, $15.38 million contract with the Amazins in 1993, but the deal was modified into deferred payments following his trade to the Colorado Rockies in 1995. Those payments began in July 2004 and run through 2028.
The Mets were 36-50 entering play on Wednesday afternoon and have been one of the worst teams in baseball since last summer.
New York had a very busy offseason, adding names like Freddy Peralta, Bo Bichette, Luis Robert Jr., Jorge Polanco and Devin Williams.
Obviously, all of the spending has not worked out for the ballclub.
But somewhere, Bonilla and Saberhagen are very content.
