According to the Associated Press, the New York Mets have been hit with a record-breaking Competitive Balance Tax (CBT) bill of $100.8 million for the 2023 season. This surpasses the previous record of $43.6 million paid by the Los Angeles Dodgers in 2015. The Mets' tax bill is based on their record CBT payroll of $374.4 million, as calculated by MLB.

In an effort to reduce their salary obligations, the Mets made several trades, including Mark Canha, Max Scherzer, and Justin Verlander, which resulted in shedding approximately $18 million in salary. This move saved the club an additional $8.4 million in CBT payments. It's worth noting that a total of eight teams paid CBT this season, setting a new record. The previous record was six teams in both 2016 and 2022.

The breakdown of the 2023 CBT bills is as follows:

- New York Mets: $100.8 million
- Texas Rangers: $1.8 million

Despite the high CBT bill, the Mets, along with the San Diego Padres and New York Yankees, failed to make the playoffs in 2023. On the other hand, the remaining five clubs reached the postseason, with the Philadelphia Phillies advancing to the Championship Series and the Texas Rangers ultimately winning the World Series. Altogether, the eight clubs accumulated a total CBT bill of $209.8 million, surpassing the previous record set last year at $75.8 million.

In a fortunate turn of events, the Los Angeles Angels were able to stay below the $233 million CBT threshold by a slim margin of $28,654. By doing so, the Angels will receive a compensation draft pick before the third round, instead of after the fourth round, for losing Shohei Ohtani to free agency. This translates to a difference of around 70 draft picks.

CBT payrolls are determined based on the average annual value of player contracts, along with miscellaneous expenses such as player benefits and the pre-arbitration bonus pool. Deferred payments, like Ohtani's, are discounted for CBT purposes. Notably, the CBT threshold for the upcoming 2024 season will rise to $237 million.

The CBT payments are due to the commissioner's office by January 21st. The first $3.5 million of the total CBT pool goes towards player benefits, followed by 50% of the remainder allocated to player pensions. The other 50% is redistributed to non-CBT paying clubs that meet specific local revenue criteria.

In conclusion, the New York Mets find themselves with a monumental CBT bill of $100.8 million, setting a new record. The 2023 season saw a total of eight teams paying CBT, and the Los Angeles Angels narrowly avoided surpassing the threshold. As the MLB offseason continues, teams will be strategizing to manage their payroll and stay within the CBT limits for the upcoming season.

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