Once again, the Angels have shown the way to financial futility. Even without Ohtani, they continue to spend big bucks compared to many other teams but haven’t made the playoffs since 2014 – the longest current postseason drought.

This is my seventh year measuring MLB team efficiencies: Payroll divided by victories. I use Spotrac for payroll, because it includes all paid players, even those no longer on the active roster.

In 2024, the Angels payroll was $172.2 million – 16 teams spent less. That worked out to $2.7 million per win. Four teams spent less than half of that per win and made the playoffs.

This year money does seem to buy at least some happiness. The two MLB teams that had the highest payrolls – the Yankees and Mets – made it into the final four. Each had a payroll of over $300 million. The Mets spent an astonishing $3.6 million per victory to lead the majors, the Bronx Bombers second with $3.3 million. The Dodgers also have a humongous payroll.

Contrast that to last year when the five teams that spent the most per win didn’t make the playoffs: Rockies ($2.9 million per win), Padres ($3.1 M), Angels ($3.15 M), Yankees ($3,4 M) and the Mets at an astonishing $4.6 million per win.

This year, four of the seven teams with the lowest per victory cost made the playoffs: The Tigers at $1.14 M, Guardians at 1.16M, Orioles at $1.2M and Brewers at $1.24M.

Clearly, the award for stupidest spending this year goes to the White Sox. They managed to set an MLB record for most losses ever in a season while having a middle-of-the pack payroll of $133.8M (12 teams spent less money). With 41 victories, that meant the White Sox spent $3.26M per win – just a tiny bit less than the Yankees.

The Dodgers meanwhile belong in a separate category. Their 2024 payroll is officially $241 million. Four teams spent more. Cost per win: $2.46M. Eleven teams spent more per win. But this number needs an asterisk: Ohtani is paid $2 million this year, with the rest of his $70M salary deferred, if I’m reading Spotrac correctly.

Each season is always something of a crapshoot. Injuries hurt last year’s champs, the Rangers ($2.9M per win) and the perennial playoff Braves ($2.6M).

Some teams – Oakland and Pittsburgh – consistently spend little and have crummy seasons. Contrast that with Tampa, which has been regularly at or near the top in cheapest costs per win while making the playoffs. This year, only Oakland had a cheaper cost-per-win, but for the first time in six years, the Rays missed the post-season.