Good Evening
Good Evening

Mets' coronavirus-related pay cuts to end on Nov. 1, source says

A view of Citi Field before the last

A view of Citi Field before the last regular season home game for the Mets on Sept. 23, 2020. Credit: Kathleen Malone-Van Dyke

The Mets already are feeling the impact of incoming owner Steve Cohen’s deep pockets.

Starting on Nov. 1, employees will begin receiving their full salaries again, ending the pandemic-related pay cuts instituted by the Wilpons in June, a source said Friday, confirming a report from Sportico.

The move was signed off on by Cohen, who is allowed to consult on organizational decision-making while awaiting approval from MLB. Current owner Fred Wilpon and chief operating officer Jeff Wilpon officially remain in control of the team.

Cohen’s $2.475 billion purchase of the Mets is done but still needs to be approved by the league, which is vetting him and the details of the transaction. He is expected to receive support from the required 23 of 30 team owners, who are slated to vote on Cohen within the next 4-6 weeks.

In late April, amid an indefinite delay to the season because of the coronavirus pandemic and thus a nearly total loss of revenue, Jeff Wilpon informed full-time employees that all salaries would be cut starting June 1. Reductions were administered on a scale, ranging from 5% for the lowest earners to 30% for the highest.

In late June, the Mets laid off 25 people — about 5% of their total workforce — for the same reasons.

Now, with Cohen set to become the richest owner in the sport, the pay cuts at least are disappearing.

That hints at an advantage the Mets, under Cohen, could give themselves this offseason and beyond if they don’t pinch pennies.

Teams across baseball are cutting staffing and funding for baseball operations and other departments — not to mention anticipated reductions of major-league payroll — which makes it more difficult for them to field as good a team as possible. Cohen and his estimated $14 billion net worth could make the Mets impervious to such financially motivated moves.

New York Sports