Jeff Passan reinforces how powerfully NY Mets have left Yankees in the financial dust

The New York Yankees and New York Mets have had a chasm between them since the latter came into existence in 1962. Whereas the Bronx Bombers have won eight World Series since then, the Queens inhabitants have only secured two championships.

A lot of that was wrought by the vast differences in financial resources at each team's disposal. As Mets fans suffered through the money-hugging years of the Wilpons and Sterling Equities, Yankees fans reveled in the endless cash the Steinbrenners were willing to throw at whichever superstar player came their way.

All that has changed in recent years, though. Steve Cohen has set a new standard for spending in Queens, routinely surpassing what Hal Steinbrenner — who continues to cry broke — spends on his team. Though neither franchise has won a title since Cohen took over in 2020, the disparity in spending has been outrageous.

"Over the past five seasons, between payroll and competitive balance tax (CBT) penalties, the Mets have spent $1,785,385,388, just ahead of the Dodgers' $1,716,051,502. The next-closest team is the Yankees, nearly $200 million behind the Dodgers," ESPN's Jeff Passan wrote in an article regarding MLB payrolls.

So much for all those "little brother" narratives, huh?

Mets have outspent Yankees by more than $250 million since Steve Cohen became owner

This newfound spending prowess has led to some marquee moments in free agency, including when the Mets stole Juan Soto from the Yankees by giving him the largest MLB contract ever. They didn't stop there, also nabbing Clay Holmes, Devin Williams, and Luke Weaver over the past two offseasons.

Now, I do have to admit I somewhat buried the lede on the larger conversation at play here. While Passan's aforementioned article is technically about payrolls, it more so focuses on the growing disparity between the teams who spend lots of money (like the Mets and Yankees) and the teams who don't (like the Rays and Athletics).

This financial advantage that the Mets have begun to create under Cohen's watch may not last forever. A lockout is widely expected to take place next year to solve the financial woes destroying the parity in the sport. Though unlikely, that could lead to a world with max contracts or a salary cap, which would hurt the Mets' chances to continue flexing their monetary muscles on their in-state rivals.

But even if this doesn't last, it's been refreshing to see New York's "other team" actually be the bully for once. They're 15-9 against the Yankees since 2021, and no matter what happens to the economics of baseball during the lockout, Soto will be a Met for another 14 years. That alone is worth celebration.