Want more from Front Office Sports
in your search results?
The New York Mets made their first blockbuster trade since billionaire hedge fund manager Steve Cohen purchased the team in October 2020: acquiring four-time All-Star Francisco Lindor from the Cleveland Indians.
Cohen, who has an estimated net worth of $14.6 billion, acquired the Mets in a $2.42 billion deal. He immediately said he’ll spend top dollar to make the organization a World Series contender.
Many expect the Mets to quickly sign Lindor to a long-term contract.
The 27-year-old shortstop was available as the Cleveland franchise embarks on a rebuilding effort. Shipping Lindor, along with pitcher Carlos Carrasco, to New York will save approximately $30 million in payroll.
2021 Financial Comparisons:
- New York estimated payroll: $179 million
- Cleveland estimated payroll: $40 million
- Los Angeles Angels center fielder Mike Trout: $37.1 million
The Mets’ total no longer includes the $24 million that would otherwise be owed to Robinson Canó, who is serving a PED suspension.
Beyond yesterday’s trade, Cohen has already delivered on his promise to spend for the Mets:
- Kept pitcher Marcus Stroman on a $18.9 million qualifying offer
- Re-signed pitcher Noah Syndergaard to a one-year, $9.7 million contract
- Signed pitcher Trevor May to a two-year, $15.5 million contract
- Signed catcher James McCann to a four-year, $40.6 million contract
Despite the frenzy around the Lindor news, Cohen was focused elsewhere: “I know this trade seems to [be] creating excitement but let’s get back to what matters – the black jerseys,” he tweeted.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
