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Payroll

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Stay up to date with and learn more about bookkeeping, QuickBooks Online, payroll, and tax.

Preston Little
January 11, 2023

Updated Payroll for New York Mets

The former Houston Astros shortstop, Carlos Correa, has left free agency and signed with the Minnesota Twins. Even though the New York Mets couldn’t sign him, their payroll may benefit from this miss. The Mets and Correa had initially agreed to a 12-year, $315M contract. This ended up not going through as the team worried about a physical he recently had. According to ESPN's Jeff Passan, the Twins came into the picture and signed Correa to a six-year, $200 million contract.

According to Passan, New York faced a payroll of $384 million and $111 million in luxury taxes after the initial agreement. However, the payroll has now been significantly decreased. New York Post’s Joel Sherman states, "the Mets payroll projects to about $357M for lux tax purposes. The Tax on that would be $87M. So Steve Cohen's team is still all in at around $444M.” The payroll currently in use amounts to $298 million.

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