For Mets owner Steve Cohen, instead of a postseason, $340 million bought him nothing but frustration in 2025. And now he’s putting his clubhouse on notice.

Steve Cohen recently opened up about how disappointed he is with the team, saying that the Mets have not won anything since his takeover.

“We haven’t won. I really want to win. Each year it goes by, I get more annoyed. It’s hard to know when to make those changes, and sometimes they happen in a way that you don’t fully anticipate.”

Since Steve Cohen bought the New York Mets in 2020, expectations changed everywhere. But division titles never came, despite playing six full seasons under Cohen’s ownership. The Mets finished tied fourth in 2020 with a 26-34 record in the pandemic-shortened season.

They had their best record in 2022, finishing 101-61, yet missed the division title. Even then, Atlanta finished ahead, showing the Mets never controlled their division. Still, 2024 gave fans real hope after years of uneven and painful seasons.

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The Mets finished 89-73 and reached the National League Championship Series that year. They beat Milwaukee 2-1 and Philadelphia 3-1 in exciting postseason series victories that October. Pete Alonso hit a huge homer against Milwaukee, extending their season during the wild-card elimination game.

But Los Angeles ended their run, winning the NLCS series 4-2 and crushing the Mets’ hopes.

Then, the hope from that deep postseason run quickly evaporated in 2025, a season that began with sky-high expectations.

The New York Mets‘ payroll became the second-highest, showing a clear commitment toward postseason success. They stood 77-73 late season, holding a wild-card position before suddenly losing eight straight games.

During the collapse, the bullpen struggled badly, including blown leads against Texas and Philadelphia.

They finished 83-79 and missed the playoffs, despite holding a strong postseason position advantage earlier.

Owner Steve Cohen openly admitted frustration, saying every losing season added to his annoyance. He said reaching the playoffs yearly matters because the postseason gives teams real championship chances.

Cohen trusted David Stearns, even when roster changes created uncertainty during the offseason transition period. He stayed patient while key players left, and replacements were not confirmed immediately.

Cohen believed those difficult decisions were needed after the Mets missed the playoffs despite huge spending.

Several core players left, ending an important chapter of Mets baseball history under Cohen ownership.

Pete Alonso signed a five-year deal with Baltimore after the Mets refused to match contract length demands. Edwin Díaz joined the Dodgers, leaving the Mets without their longtime closer in the late innings. Brandon Nimmo and Jeff McNeil were traded, significantly reducing payroll commitments and roster stability.

Yet, through everything, Francisco Lindor remained a central figure in the Mets’ long-term organizational plans and leadership.

The Mets continued building around Lindor with Bo Bichette and Luis Robert Jr., keeping him during the major roster restructuring period. Cohen also praised young pitcher Nolan McLean after his strong six-start performance in his season debut.

Now, expectations are higher because the New York Mets completely changed their core players and direction. This season could define whether Cohen’s rebuilding plan finally delivers postseason success consistently.

Mets’ owner, Steve Cohen, talks about the Dodgers’ spending

Steve Cohen has already forced uncomfortable conversations by spending freely and publicly challenging ownership’s convenient financial restraint. Now, he is even acknowledging the Dodgers’ behavior, which usually mirrors his own playbook.

Steve Cohen acknowledged the Los Angeles Dodgers’ strength after their aggressive offseason reshaped competitive financial expectations across the league.

LA signed Kyle Tucker to a four-year, $240 million contract, improving lineup production. They also added Edwin Díaz on a three-year, $69 million deal, strengthening bullpen reliability immediately.

Reportedly, Cohen noted, “They’re formidable,” while adding, “They have the ability to spend. So do I, by the way.”

His statement reflected ongoing financial rivalry shaping baseball’s modern competitive balance across franchises nationwide.

Cohen proved spending power by signing Juan Soto for a 15-year, $765 million contract. That deal surpassed previous records, confirming the New York Mets’ willingness towards the biggest financial commitments.

Now, the Mets are projected for the second-highest payroll, trailing only the Dodgers.

Bo Bichette’s salary alone adds a $42 million payroll obligation for the 2026 season. These investments followed earlier spending waves, including record payroll exceeding $369.9 million, per reports.

Cohen defended spending publicly when owners criticized the Mets’ unprecedented payroll levels and the luxury taxes imposed.

He emphasized following league rules despite paying $98.6 million in luxury tax penalties.

Then, fans remember the Mets reaching 101 wins during an aggressive spending push under Cohen’s leadership. Plus, the Dodgers validated a heavy investment by winning the 2020 World Series after a 32-year championship drought. And then, of course, their two back-to-back titles (2024 & 2025) only strengthened the case.

Now, Cohen continues pursuing a similar outcome, reinforcing commitment to building a championship-caliber roster.