As Major League Baseball approaches the July trade deadline, the New York Mets face complex challenges in reshaping their roster amid a disappointing first half of the season. Despite a payroll exceeding $380 million and a total team investment around $500 million, the Mets’ assets currently offer limited appeal to potential trade partners, according to discussions with baseball executives familiar with the situation.

New York suffered a 5-4 loss to the Philadelphia Phillies at Citi Field on June 28, a game marked by atypical decisions such as using Kodai Senga in relief for the first time in his career, during which he surrendered a crucial two-run homer to Kyle Schwarber in the seventh inning. The team also inserted journeyman Eric Wagaman as the cleanup hitter, bypassing star shortstop Francisco Lindor, who recently returned from a significant calf injury.

Despite struggles, the Mets have yet to fully commit to selling off key players. Sources note the timing is early in the season to abandon hopes for a playoff berth, and some of the team’s most tradable pitchers are not in immediate market-ready form. Freddy Peralta, considered among the Mets’ top trade chips due to his reasonable $8 million salary and potential upside, still needs to demonstrate sustained success. Clay Holmes, a promising arm sidelined by a fractured fibula, is recovering but has no definitive return timetable.

Setup man Luke Weaver, who has not allowed a run since April, might be the team’s most attractive reliever on the market. However, Weaver is under team control and not a free agent, which may persuade the Mets to retain him for the remainder of the season.

The roster’s star players present additional hurdles to a major overhaul. Juan Soto and Francisco Lindor, both highly compensated and wielding no-trade clauses, appear unlikely to be moved in this window. Lindor, slated to earn $176 million through 2031, is seen by some executives as a potential salary dump candidate better suited for offseason discussions. Meanwhile, other regulars such as Toronto native Vladimir Bichette carry hefty contracts but offer little trade value due to underperformance.

Among position players, catcher Francisco Alvarez might attract interest, possibly from divisional rivals like the New York Yankees, whose catching situation remains unstable. Still, his trade value has diminished considerably since initial projections pegged him as a future star.

On the bullpen front, the Mets possess several arms that have exceeded expectations and are likely to generate some demand. In addition to Weaver, left-handed pitchers Brooks Raley and A.J. Minter—both scheduled to become free agents after the season—and right-hander Huascar Brazobán have emerged as noteworthy contributors. Devin Williams, the team’s highest-paid reliever at $17 million, is expected to remain in New York despite a generally soft market for relief pitching.

Ultimately, the Mets’ potential trade activity may focus on moving an underperforming starter, the injured Holmes when healthy, and multiple relievers. However, with valuable assets few and far between, insiders suggest the front office will have limited options to significantly alter the team’s trajectory before the deadline. While baseball president David Stearns has demonstrated a willingness to pursue change, the available pieces may constrain any substantial midseason transformations.