What Pete Alonso actually costs the New York Mets in 2025

Due to the "Cohen Tax," Pete Alonso will end up costing the Mets much more than his $30 million AAV this season.

Feb 24, 2025; Jupiter, Florida, USA; New York Mets first base Pete Alonso (20) hits a two-run double across the during the third inning at Roger Dean Chevrolet Stadium. Mandatory Credit: Sam Navarro-Imagn Images | Sam Navarro-Imagn Images

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.

https://t.co/bA8CdYiw2z. Boone contract details exclusively here plus how much Alonso deal costs Mets in 2025 and notes on Mendoza, Vlad value, an imagined Vlad-Pete switch for ‘26 and the best deal of year

— Jon Heyman (@JonHeyman) February 27, 2025

In the summer of 2023, Alonso reportedly turned down a seven-year, $158 million extension offer ($22.6 million AAV) before hiring agent Scott Boras, hoping to secure a larger payday on the open market.

His bet on himself did not pan out as he may have hoped this winter, but he could get another opportunity to cash in on a long-term deal if he opts out after the season—either with the Mets or another team.

Read More: Mets' Pete Alonso reflects on free agency experience, motivation for 2025

Cohen has recently expressed a desire to eventually reduce payroll and get under the “Cohen Tax,” but he has also shown a willingness to go well beyond that if it significantly boosts his team’s chances of winning. Still, he has cautioned that additional long-term deals may not be in the Mets’ best interests going forward.

"I mean, you really can't have too many long-term contracts, because then you lose your roster flexibility, so you gotta be really careful," Cohen said on Feb. 18. The Mets already have over $100 million in combined AAV tied to three players through the 2030 season—Juan Soto, Francisco Lindor, and Brandon Nimmo.

Alonso, 30, will continue his career with the organization that drafted and developed him—at least for now. Since his 2019 debut, his 226 home runs are the second-most in MLB, trailing only Aaron Judge’s 232 during that span. He is just 27 home runs shy of Darryl Strawberry’s all-time Mets record, a mark that could be well within reach in 2025 if his career averages hold.

226 home runs with the @Mets and counting!

Pete Alonso is officially back in Queens. pic.twitter.com/YLcmZI0qH7

— MLB Network (@MLBNetwork) February 12, 2025

Even in a down year by his standards in 2024, Alonso still ranked in the 93rd percentile in bat speed and the 89th percentile in barrel percentage, according to Statcast metrics. The homegrown slugger has never hit fewer than 34 home runs in a full season.

If Alonso has a big year and opts out, he will join Toronto Blue Jays superstar Vladimir Guerrero Jr. as the top first basemen in the 2025-26 free-agent class.