Red Sox president expects to lower payroll in 2024
Boston Red Sox president and CEO Sam Kennedy expects the team's 2024 payroll to be lower than it was this past season.
"It probably will be lower than it was in 2023," Kennedy said on Friday, according to MassLive's Christopher Smith. "I don't know that for sure. We don't talk about specific payroll numbers. But I want to be clear, the build we're engaged in and have been engaged in will dictate the spend."
Kennedy announced the potential payroll reduction during the team's Winter Weekend event, where he and other executives - including new chief baseball officer Craig Breslow - were booed.
Some loud, awkward yells from the crowd: "Get some pitching!" and ... at Breslow: "You're Chaim Bloom 2.0."
— Chris Cotillo (@ChrisCotillo) January 20, 2024
The CEO addressed the fans' discontent, noting that people equate trying with high spending and acknowledging that the team hasn't matched big, long-term contracts. "There may be a perception that we're not trying and I can assure you that we are trying," he said.
Entering the 2024 campaign, Boston's projected luxury-tax payroll sits around $198 million, according to FanGraphs. That's roughly $27 million less than the team's 2023 commitment.
"In fact, the three teams with the highest payroll last year didn't even make (the) postseason," Red Sox chairman Tom Werner added. "As Sam said, we're here to support Craig and build a consistent winner. And we have the resources to be competitive and we expect to be."
Boston's first offseason under Breslow has been underwhelming, as the club missed out on signing Japanese free-agent Yoshinobu Yamamoto. Its most significant additions have been pitcher Lucas Giolito, outfielder Tyler O'Neill, and youngster Vaughn Grissom.
The Red Sox also traded left-hander Chris Sale and outfielder Alex Verdugo and declined an option on Justin Turner, one of the team's most productive performers last season.