MLB Teams With Highest 2024 Payrolls: Mets on Top

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New York Mets' Francisco Lindor scores on a single hit by Francisco Alvarez during the first inning of a baseball game against the Cincinnati Reds Sunday, April 7, 2024, in Cincinnati.
(AP Photo/Jeff Dean)
Shane Jackson @Sjacksonmgm Jun 13, 2024, 2:18 PM
  • The average total team payroll across MLB in 2024 is $113,424,282.
  • The New York Mets have the highest payroll at $308,592,612.
  • The lowest payroll belongs to the Oakland Athletics at $62,547,537.

Baseball is an expensive business, and there often seems to be no end to the amount of money big-market owners will shell out to see top players on their teams.

As mega-contracts become more common across the league and payroll sizes continue to grow, some teams see the annual luxury tax threshold as more of a mere inconvenience than any real deterrent to spending.

As of June 2024, the average total payroll across all MLB teams in 2024 is $113,424,282..

Below are all MLB teams and their payrolls for 2024, according to Spotrac.

MLB Teams With Highest Payrolls in 2024

RANKTEAMTOTAL PAYROLL
1Mets$308,592,612
2Yankees$305,116,274
3Astros$249,484,176
4Phillies$245,356,363
5Rangers $231,949,737
6Braves$231,949,048
7Dodgers $230,162,519
8Cubs $224,992,719
9Blue Jays$224,282,128
10Giants $202,034,410
11Red Sox $182,375,532
12Cardinals$176,489,062
13Angels$173,568,211
14Diamondbacks$171,350,444
15Padres$162,973,608
16Rockies$147,613,721
17Mariners$142,835,344
18White Sox$136,678,625
19Twins$126,928,667
20Royals$117,714,729
21Nationals$108,817,731
22Brewers$107,312,464
23Tigers$106,869,940
24Reds$101,663,000
25Orioles$100,952,739
26Guardians$99,792,231
27Marlins$99,135,381
28Rays$97,857,303
29Pirates$84,595,917
30Athletics$62,547,537

1. Mets

The Mets had the highest payroll in 2023 and were only passed in the offseason when Juan Soto was traded to the Yankees.

After the signing of J.D. Martinez, the Mets are now back on top of this list.

Despite the financial commitment, New York remains an MLB odds long shot following a 75-87 campaign.

2. Yankees

Thanks to the addition of Soto in the offseason, the Yankees are among the biggest spenders ahead of the 2024 season.

Soto is one of four players making at least $31,000,000 this year, joining Aaron Judge ($40,000,000), Gerrit Cole ($36,000,000), and Giancarlo Stanton ($32,000,000).

After missing last year’s postseason, the Yankees hope a bigger payroll will boost their MLB playoff odds in a stacked AL East division.

7. Dodgers

The Dodgers made the biggest splashes in free agency by signing two-way star Shohei Ohtani to a record-setting 10-year, $700 million contract while also handing Yoshinobu Yamamoto the biggest contract for a pitcher in MLB history before he’s thrown a single pitch in this league.

But the Dodgers are just seventh in total payroll because Ohtani will defer $68 million of his $70 million yearly, which means he makes up less than 1% of this year’s payroll. Mookie Betts, Freddie Freeman, and Tyler Glasnow are the highest members of the current payroll.

Unsurprisingly, the Dodgers are the World Series odds favorites with their star-studded roster.

30. Athletics

The Oakland Athletics are last in the league in payroll for the second straight season.

This isn’t completely due to the team’s Moneyball history, as the franchise is preparing to move to Las Vegas in 2028. That saga is far from over, however.

With or without a move to Las Vegas, Oakland will remain near the bottom of my 2024 MLB power rankings.

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About the Author

Shane Jackson

Read More @Sjacksonmgm

Shane Jackson is a Web Content Writer for BetMGM, covering MLB and NBA. After graduating from the University of Kansas, his previous stops include MLB.com, Lawrence Journal-World, Manhattan Mercury, Bet Chicago Sports, WynnBET, and Sportsbook Review.

Shane Jackson is a Web Content Writer for BetMGM, covering MLB and NBA. After graduating from the University of Kansas, his previous stops include MLB.com, Lawrence Journal-World, Manhattan Mercury, Bet Chicago Sports, WynnBET, and Sportsbook Review.