The New York Mets have the largest payroll in MLB history, and the difference between the second-ranked team is considerable.
Some teams don’t like it because it can expose them.
Meanwhile, Diamond Sports, which operates the 19 Bally Sports channels, is expected to file for bankruptcy soon.
It’s a problem because Bally Sports broadcasts 14 MLB teams.
As a result of these situations, the league has adopted a surprising approach.
“MLB has formed an ‘economic reform committee,’ per @EvanDrellich. The move comes in the wake of both financial turmoil at Diamond Sports and Mets owner Steve Cohen amassing the largest payroll in baseball history,” Front Office Sports tweeted.
MLB has formed an “economic reform committee,” per @EvanDrellich.
The move comes in the wake of both financial turmoil at Diamond Sports and Mets owner Steve Cohen amassing the largest payroll in baseball history. pic.twitter.com/MppAaCweTK
— Front Office Sports (@FOS) February 21, 2023
To become the Mets’ owner, Steve Cohen had to be cleared by fellow owners in a vote.
They approved him as the Mets’ new owner, knowing he would be the wealthiest one by a considerable margin.
In other words, they knew this could be a possibility.
And since the league doesn’t have a hard cap, he is technically allowed to spend as much as he wants in payroll as long as he pays the proper taxes.
And he does.
According to CBS, the committee includes at least three owners — John Henry (Red Sox), Chris Ilitch (Tigers), Dick Monfort (Rockies) — but there are others.
Henry has been one of the leaders of the new committee.
John Henry, member of MLB’s new economic reform committee, tells @Sean_McAdam: “I believe the vast majority of players, agents and clubs dislike baseball’s economic system. … The system needs change.”https://t.co/dFyB4MKUhF https://t.co/XKrg9XOPxr
— Evan Drellich (@EvanDrellich) February 20, 2023
It’s unclear if this is a move to boycott Cohen or limit him somehow, but more details will surely surface in the not-so-distant future.
It appears Cohen’s presence as an owner hasn’t been well received by some teams.
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