New York Mets owner Steve Cohen knows firsthand that money doesn't buy winning in Major League Baseball.
The Mets have had the highest luxury tax payroll in baseball over the last two seasons, but they have also struggled mightily despite spending on talent, and Cohen now realizes that spending money doesn't mean the team will be successful.
"Clearly not. We tried that," Cohen said on CNBC. "The real problem is if you're trying to build a team through free agency, it's such a tough place to be because you're fighting the aging curve. You're buying players based on their previous history but they're getting older.