Twins face significant payroll cuts as they look to capitalize on strong 2023 season

SCOTTSDALE, Ariz. – The Minnesota Twins’ 2024 payroll numbers are causing concern.

Although not officially confirmed, sources close to the team indicated that the Twins may be cutting down last year’s record-high payroll to a range of $125 million to $140 million. According to Cot’s Contracts, the team spent $154 million on payroll in 2023.

The team’s payroll uncertainty comes after the expiration of a lucrative Bally TV deal that brought in $54.8 million last season. Derek Falvey, the Twins’ president of baseball operations, hinted at potential cuts but did not provide specific figures during Tuesday’s GM meetings.

Despite clinching their first postseason series win since 2002 and winning the American League Central last season, the Twins might have to trim up to $29 million off their payroll, as per sources.

“We’ve pushed our payroll to heights that we had never pushed it before with the support, certainly, of ownership,” Falvey said. “We know there is some natural ebb and flow to that. Will it be where it was last year? I don’t expect that. I expect it less than that. Some of that may come more organically.”

The team’s financial constraints may impact their ability to pursue free agents, including team MVP and pitcher of the year Sonny Gray. Tensions rise as more than a dozen other clubs around the league are grappling with similar payroll challenges.

Furthermore, as of Tuesday, the Twins remain uncertain about the broadcasting of their games in 2024, adding complexity to an already challenging scenario.

As the Twins aim to build on their successful 2023 campaign, they face the uphill task of improving their roster under constrained payroll conditions.

Falvey remained optimistic, stating, “If we’ve established one thing about our past it’s that we’re going to seek creative ways to improve the roster.”

It is speculated that the Twins could create financial flexibility by possibly trading certain high-earning players, enabling them to bolster their pitching rotation or acquire right-handed hitting players.

The team could also look to add rookies to the mix, hoping their contributions will help bridge the gap.

While challenges lie ahead, Falvey is hopeful that the team can build upon the strong foundation already in place.

(Top photo of Derek Falvey: David Berding / Getty Images)