New Mets general manager Brodie Van Wagenen, who will be introduced Tuesday at Citi Field, apparently will be taking a big pay cut.
General managers in baseball do not enter that financial stratosphere. Yankees GM Brian Cashman signed an extension worth a reported $25 million over five years. The other GMs said to be over $3 million are Theo Epstein of the Cubs and Ben Cherington of the Blue Jays.
Agent Scott Boras, who had a net worth of $400 million in 2017, tops the Forbes worldwide list with commissions at $105 million this season. Derek Jeter’s agent, Casey Close, is sixth ($62.17 million) and Sam and Seth Levinson, who represented David Wright, are at seventh ($49.47 million).
Van Wagenen, a 44-year-old resident of Darien, Connecticut, first earned big commissions with the signing of Robinson Cano’s 10-year $260-million deal with the Mariners, then Ryan Zimmerman’s six-year, $100-million pact with the Nationals. Van Wagenen’s commission this season is based on $555.6 million in existing player contracts. His Mets clientele includes Yoenis Cespedes and Jacob deGrom. Van Wagenen will have to divest himself from all his clients and, assuming they stay with CAA, turn them over to other agents.
Dave Stewart went from being an agent to GM of the Diamondbacks. “I made more money as an agent than I did as a general manager,” Stewart said on Saturday from San Diego. “Brodie’s probably made a ton of money, he’s probably saved his money, his net worth is probably huge. The business of representing players is far more lucrative than being a general manager. The guys that are making a lot of money as GMs are the guys that have been doing the job for a long period of time.’’
Agent commissions vary by sport, according to a survey by the Houston Chronicle. While MLB and the NHL place no limit on the percentage of an agent’s fee, the NFL and NBA limit is 3 percent.