LATEST NEWS: The Padres reduced salary by approximately $100 million, nearly twice as much as any other MLB team.

The San Diego Padres have made significant cuts to their payroll, slashing nearly $100 million, which is almost twice as much as any other MLB team. On the other hand, some teams like Houston and the Dodgers have seen an increase in their payroll costs. The average salary on opening day saw a modest 1.5% increase to $4.98 million, a slight drop from the previous year’s 11.1% rise. This reduction in payroll spending comes amidst a tepid free-agent market, leading to concerns among players, especially top free agents like Blake Snell and Cody Bellinger, who ended up signing shorter-term deals than expected. The Mets maintained their position at the top with a payroll of $306 million, followed closely by the Yankees, Dodgers, Phillies, and Astros. Commissioner Rob Manfred attributed these fluctuations to market cycles and teams’ cautious approach due to uncertain revenue from regional sports networks.