The easy answer to unlock Soto’s contract might just be Cohen. Despite regularly inking some of the most expensive contracts in baseball this century – including a $340 million deal with shortstop Francisco Lindor in 2022 – the Mets have been thwarted time and time again, including crushing losses in the playoffs and the World Series . The team is approaching the 40th anniversary of its last championship. The outlook appeared to change five years ago when Cohen, a longtime hedge fund manager, bought the team for $2.4 billion. Cohen was an unusually approachable owner, meeting with fans on multiple occasions and commenting often on social media.

More importantly, Cohen, who is worth up to $21.3 billion according to Forbes, has been among the most lavish owners in baseball since he took over the team’s management. According to data from Spotrac, a website that monitors sports spending, the Mets have the highest annual payroll since 2023. A separate index from TheScore.com that compares payrolls versus teams’ approximate earnings shows that Cohen may have the team actually results in a loss.

Despite the annual increase in payrolls, the winner of the World Series was often unpredictable. But the baseball gods have been notoriously cruel to the Mets, despite their overspending. After exiting the first round of the playoffs in 2022 with a roster full of veterans, Cohen blew up the team, trading for prospects while acquiring another batch of expensive free agents.

But that team still only finished second in the National League East Division that year and barely made the playoffs. Although they still made it to the National League Championship Series, they were ultimately defeated by the Los Angeles Dodgers, who won the World Series in October.

But over time, payroll appears to equate to profit – belying the infamous “Moneyball” approach of spending efficiently on underutilized players.

With Soto’s contract, it appears Cohen won’t be turned down again. The New York Yankees, baseball’s longtime backers, reportedly offered Soto just $5 million less than the Mets. But despite reaching the World Series this year, the Bronx Bombers have faced roster turmoil in recent years while continuing to employ a manager, Aaron Boone, who has come to detest many fans.

Ironically, Soto comes from the Yankees, where he was traded in December 2023.

Soto is entering his prime and continues to draw comparisons to hitting legends Ted Williams and Barry Bonds. This combination of youth and potential contributed to the salary record.

Another key to Soto getting such a big contract was simply timing. He took advantage of a year that lacked other mega-free agents and was able to secure a premium on the open market.

It’s possible that Soto’s contract will be exceeded in just one year. Analysts believe Toronto Blue Jays star Vladimir Guerrero Jr., who finished sixth in MVP voting last season, is expected to reach a huge number of players when he retires after the 2025 season Free agency changes.

Even if no one ends up matching or surpassing Soto’s number, MLB will continue to lead all professional sports in gigantic signings for one simple reason: Unlike the NFL and NBA, there is no salary cap.

According to Michael Ginnitti, founder and editor-in-chief of Spotrac, “The baseball luxury tax system…allows billionaires to spend billions on their team if they want.”