With how cheap some MLB owners are, Steve Cohen is sometimes seen as a hero in some Internet circles.
The New York Mets owner isn’t afraid to spend in payroll, mainly because he is the wealthiest owner in MLB but also because he is a lifelong fan who bleeds, lives, and dies for the team.
However, he is not a hero: he is just doing his job, which is making the Mets a top-tier team on and off the field.
He is also making a lot of money, too!
According to Front Office Sports, the Mets’ home park made a lot of revenue in 2022.
A lot.
“The New York Mets’ ballpark, Citi Field, brought in a record $244.3 million in revenue in 2022, resulting in a nine-figure profit for the stadium,” they tweeted.
The New York Mets' ballpark, Citi Field, brought in a record $244.3 million in revenue in 2022, resulting in a nine-figure profit for the stadium.
— Front Office Sports (@FOS) March 7, 2023
The Mets’ payroll is just over $330 million at the moment, so you can say the stadium helped pay for a significant chunk of that 2023 total.
If we add what the Mets made in TV contracts, revenue sharing and advertising (plus other sources of profit), you can see why owning a team is such a profitable exercise.
If only more MLB owners were like Cohen and were more willing to reinvest their earnings on the roster, the league would be much more entertaining than it already is.
It’s amazing how much money a ballpark can report every year, and how attractive of a business it can be for everybody involved.
The Mets spend a lot of money on their roster, sure, but they also make a lot and that’s great for the game.
If more teams could adopt their model, some of the issues that continually affect the game just wouldn’t exist.
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