Jun 26, 2026 6:05 PM

Steve Cohen’s billion-dollar spending spree hits a wall as underperforming stars and injury woes leave New York’s record-breaking $329 million payroll languishing at the bottom of the division.

With the recent proposals coming from the MLB regarding a systematic change to the salary system, now is as appropriate a time as ever to take a look at how the absence of restrictions in the past has played a role in the current state of the New York Mets.

A lockout is looming because the league and the MLBPA are unable to agree, but the damage is already wreaking havoc in Queens. The Mets have the highest total payroll allocation in baseball at $329 million and an active payroll of $230 million.

Owner Steve Cohen has shown an inspiring commitment to putting his team in the best position to produce winning baseball since taking over the club in 2020, but it just hasn’t panned out in the way many expected.

Despite spending well over a billion dollars in contracts since taking over, the Mets have yet to win the division and are even on pace to have a losing record in three of the six seasons.

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New York has three of the most expensive contracts on an average annual value basis in the league right now, but they remain comfortably in last place in their division. Bleacher Report recently graded the top AAV players in the league, and the Mets’ players serve as a reminder of the cloud that sits over the team.

Shortstop Francisco Lindor was the first big arrival of Cohen’s tenure as owner, and he signed a $341 million deal over 10 years to stay in New York in April of 2021. Now, Bleacher Report gives Lindor a ‘D-’ grade – which is based solely on the production of the top 30 AAV players in the game.

The 32-year-old made his first All-Star Game as a Met last season, but 2026 hasn't been nearly as kind. Playing just 25 games this year due to injury, Lindor has a .637 OPS on the year and went 0-for-5 in his Wednesday night return. Lindor has been a consistent bright spot in each of his prior years in Queens, but 2026 hasn't been the same story.

This year, the bright spot on the Mets’ roster is outfielder Juan Soto, who has an AAV of $51 million. Every penny of his monstrous contract is worth it, however, as he proves year after year that he is unstoppable at the plate. With a .299/.399/.567 slash line with a .966 OPS, Soto was given an ‘A’ grade.

The same can’t be said for the biggest addition of last offseason for New York, infielder Bo Bichette. Signing a $42 million AAV contract, Bichette’s Mets tenure has been far from a dream.

The good news is, however, Bichette has posted a .902 OPS over his last 34 games. Still, his abysmal start of the year keeps his season slash line at .254/.299/.388 with a .688 OPS. He earned a ‘D-’ grade for his role in the Mets’ historically poor start to 2026.

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