MLB Teams With Highest 2024 Payrolls: Yankees on Top

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FILE - New York Yankees' Aaron Judge hits a home run against the Arizona Diamondbacks during the seventh inning of a baseball game Sept. 22, 2023, in New York. Slugger Judge and the Yankees try to make it back to the playoffs after a disappointing 2023 season. The five-time All-Star hit 37 home runs last season and will be a big piece of the lineup once again
(AP Photo/Frank Franklin II, File)
Shane Jackson @Sjacksonmgm Feb 22, 2024, 1:50 PM
  • The average total team payroll across MLB in 2024 is $147,201,099.
  • The New York Yankees have the highest payroll at $290,541,666.
  • The lowest payroll belongs to the Oakland Athletics at $45,525,000.

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 February 2024, the average total payroll across all MLB teams in 2024 is $147,201,099.

Below are all MLB teams and their payrolls for 2024 as of late February, according to Spotrac.

MLB Teams With Highest Payrolls in 2024

RANKTEAMTOTAL PAYROLL
1Yankees$290,541,666
2Mets$283,801,859
3Astros$237,303,141
4Phillies$237,182,617
5Blue Jays$222,601,784
6Braves$221,315,000
7Rangers $215,710,000
8Dodgers $209,121,666
9Cubs $187,980,000
10Cardinals$162,301,667
11Red Sox $158,058,181
12Angels $156,918,094
13Padres$144,995,453
14Giants$144,288,333
15Rockies$131,385,000
16Diamondbacks$130,771,716
17White Sox$124,673,333
18Mariners$124,158,333
19Twins$112,353,690
20Royals$105,119,570
21Tigers$92,813,333
22Orioles$92,778,668
23Nationals$90,171,429
24Brewers$88,984,960
25Rays$86,958,712
26Reds$84,648,333
27Guardians$84,433,928
28Marlins$81,535,000
29Pirates$67,602,500
30Athletics$45,525,000

1. Yankees

Thanks to the addition of Juan Soto in the offseason, the Yankees have passed the Mets for the highest payroll 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.

2. Mets

The Mets had the highest payroll in 2023 and remained there for most of this past offseason before Soto landed with their crosstown foe. Despite the financial commitment, New York remains an MLB odds long shot following a 75-87 campaign.

8. 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 eighth 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, as recent reports have suggested the relocation is not a sure thing.

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