Major League Baseball's average salary reached a record $5.34 million on Opening Day, rising 3.4% from last season, according to an Associated Press study. The New York Mets topped team spending at $352.2 million for the fourth consecutive year, with Juan Soto earning $61.9 million as the league's highest-paid player.

Under the current collective bargaining agreement, MLB salaries have increased 28% over five years, averaging 5.6% annually. The Mets' payroll was more than five times that of Cleveland, the lowest-spending team at $62.3 million. The Los Angeles Dodgers ranked second at $316.6 million, though their total would exceed $395 million if deferred contracts were counted at full value.

The top five spenders remained unchanged from last year, with the Yankees third at $297.2 million, followed by Philadelphia and Toronto. Six teams reached $250 million payrolls, up from four, while eight teams spent under $100 million, an increase from five. The median salary rose to $1.4 million, still below the 2015 record of $1.65 million.