Spending big in Major League Baseball doesn’t always mean winning big. Some teams drop insane amounts of money on free agents, luxury tax penalties, and massive contracts, only to come up empty when it matters most—October.
Sure, payroll flexibility helps, but it turns out that throwing money at a problem doesn’t guarantee rings (unless you’re the Yankees in the late ‘90s). Some teams just have a knack for spending like a billionaire on a losing stock. Let’s count down the 10 MLB teams that burn through cash but never seem to win it all.
10. Texas Rangers
Yes, the Rangers finally got their first World Series title in 2023, but let’s not forget the decades of money-burning before that. From the Alex Rodriguez $252 million contract disaster to a string of high-priced free agents who never delivered (hello, Prince Fielder and Shin-Soo Choo), Texas has spent big for years but only recently figured out how to win. Before 2023, they were known more for their back-to-back World Series collapses in 2010 and 2011 than for winning anything.
9. Seattle Mariners
The Mariners are the only team in MLB that has never made a World Series, and yet, they’ve never been afraid to spend. And yet, despite boasting some of the highest payrolls in baseball at various times, the Mariners always seem to miss the playoffs or get bounced early. Their 116-win season in 2001? Didn’t even make it to the World Series.
8. Philadelphia Phillies
The Phillies have a ring from 2008, so they aren’t completely cursed, but given how much they’ve spent since then, it’s shocking they haven’t won more. They’ve handed out MASSIVE contracts in recent years—Bryce Harper, Zack Wheeler, Trea Turner, and Kyle Schwarber all got paid. They’ve been contenders, but every time they look like the team to beat, something goes wrong.
7. New York Mets
The Mets operate like a team that should win championships… until they don’t. Under new owner Steve Cohen, they’ve spent like a teenager with unlimited Robux—Max Scherzer, Justin Verlander, Francisco Lindor, Edwin Díaz, and Juan Soto. And yet, for all their spending, the Mets have been defined by meltdowns, collapses, and early playoff exits.
6. Los Angeles Angels
The Angels might be THE best example of a team that spends wildly but never wins. They had Mike Trout and Shohei Ohtani for years… and still never won a playoff game with them. Think about that. Not a single postseason win! The Angels are proof that spending big doesn’t matter if you have no clue how to build a roster.
5. San Diego Padres
The Padres have never won a World Series, but if you looked at their payroll, you’d think they had five rings. They’ve handed out gigantic contracts to Manny Machado, Xander Bogaerts, Yu Darvish, and Fernando Tatís Jr. They traded for Juan Soto, gave Tatis a 14-year deal, and still don’t have a ring.
4. San Francisco Giants
The Giants had their golden era in the early 2010s, but since then? A whole lot of spending with nothing to show for it. They tried to land Aaron Judge, but he chose to stay in New York. Then they had Carlos Correa… for about 24 hours before backing out of his deal. They always have money to spend, but they rarely land the big fish—or win when it matters.
3. St. Louis Cardinals
The Cardinals are always spending on free agents, and yet, their last World Series win came in 2011. They’ve given out big contracts to players like Paul Goldschmidt, Nolan Arenado, and Willson Contreras, but it hasn’t really worked out. St. Louis has been a consistent “good but never great” team for over a decade. When was the last time they felt like a real title contender? Exactly.
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2. Boston Red Sox
The Red Sox have spent billions of dollars over the past two decades, and yet, their front office still acts like they’re on a budget sometimes. They let Mookie Betts walk over money, gave Chris Sale a huge contract (which aged terribly), and then went on a weird spending spree on guys like Trevor Story, Masataka Yoshida, and Rafael Devers without an actual plan.
Read More: The 15 Worst Free-Agent Contracts in MLB History
1. New York Yankees
No team in baseball spends more and wins less (relative to expectations) than the New York Yankees. Yes, they have 27 World Series titles, but let’s focus on the modern Yankees—the ones who have spent billions of dollars over the past 15 years and have exactly zero championships to show for it since 2009. They’ve handed out huge contracts to Giancarlo Stanton, Gerrit Cole, Carlos Rodón, and Juan Soto, but when it matters? They flame out in October.
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