Report: MLB owners concerned about Cohen’s big spending

Multiple MLB owners are worried after New York Mets owner Steve Cohen went on an unprecedented shopping spree in free agency this offseason, according to Jon Heyman of the New York Post.

Some owners are reportedly concerned they won’t be able to compete for players and, inevitably, in games.

Other owners were fine with Cohen signing Edwin Diaz, Brandon Nimmo, and Justin Verlander but thought landing Carlos Correa was “over the top,” sources told Heyman.

New York Yankees owner Hal Steinbrenner said Wednesday that Cohen’s spending was something that had to be “looked at” after the latter dished out over $800 million to free agents.

The Mets’ total payroll for 2023 currently stands at around $500 million, which includes a luxury-tax penalty of over $100 million. Meanwhile, the Yankees have the second-highest projected payroll in baseball but are still 33% behind their crosstown rivals, notes Heyman.

Cohen is by far the wealthiest MLB owner, with an estimated net worth of $17.4 billion.

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