He didn't cut the payroll. They are still at the same level as last year. Paying Pedro all that money might have looked good but in 2 years when his shoulder falls apart and they eat a year or two of his contract (no insurance company will cover him) people will sing a different tune.
He cut it by $4 million while the Evil Empire increased theirs by a good $15 Million. Paying Schilling and not having Pedro worked out real good! How many innings did the Mets get out of him?