MLB's Average Salary Increases to Record $4.9M for 2023, Up 11% from Last Year

After an offseason spending frenzy, the average player salary in Major League Baseball for the 2023 season reached a record $4.9 million.

Per Ronald Blum of the Associated Press, the 11.1 percent increase from 2022 represents the largest year-over-year increase since 2001.

The previous record-high salary was $4.45 million in 2017, according to Blum.

The increase came in the first year after a new collective bargaining agreement was signed. The deal ensured labor peace in MLB for five years through the 2026 season.

The offseason spending was also a testament to how much more attractive the crop of free agents was than the 2022 group. There were 11 contracts signed last year worth at least $100 million, but Corey Seager's 10-year, $325 million pact with the Texas Rangers was the only one worth more than $182 million.

Only nine players signed free-agent contracts for at least $100 million this offseason, but five went for at least $185 million. Aaron Judge and Trea Turner got $360 million and $300 million. And that group doesn't include Manny Machado, who signed a $350 million extension with the San Diego Padres in February.

The Justin Verlander (two years, $86.7 million) and Judge made them the second and third players to earn at least $40 million per season, along with Max Scherzer ($43.3 million).

Blum noted 546 out of 943 players on Opening Day rosters were making at least $1 million, 32 more than at the start of the 2022 season.

Maury Brown of Forbes reported in January that MLB set a record with $10.8 billion in revenue last season.