What Pete Alonso actually costs the New York Mets in 2025

Over a week ago, New York Mets owner Steve Cohen told reporters he had already “blown through” the payroll number he envisioned heading into the offseason.

While Juan Soto’s record 15-year, $765 contract played a major role in that, re-signing Pete Alonso is what ultimately pushed the Mets' budget over the top.

Just before the start of spring training, the four-time All-Star slugger agreed to a two-year, $54 million deal, which includes a player option after the first year. In 2025, Alonso will earn $30 million—setting a new MLB record for the highest one-year figure by a first baseman—and $24 million in 2026 if he does not exercise his opt-out.

On the surface, the short-term structure of the deal seems like a win for the Mets, even with the record AAV in 2025. However, while the deal helps maintain roster flexibility for future seasons, the financial impact will be much greater than Alonso’s $30 million AAV suggests in 2025.

The Alonso contract pushed the Mets’ payroll from about $295 million to $325 million, putting them well over MLB’s highest competitive balance tax threshold, nicknamed the “Cohen Tax.”

As reported by Jon Heyman of the New York Post on Thursday, the Mets are paying an additional $32.1 million in taxes due to Alonso’s contract. This means Alonso will actually cost the Mets a staggering $62.1 million this season, as they are taxed at 95% on every dollar between $281 million and $301 million, and 110% on each dollar spent above the $301 million threshold.