It’s a familiar refrain that Rockies fans throw my way.

“Owner Dick Monfort is a cheapskate,” the disgruntled say. “Fans continue flocking to Coors Field, but he doesn’t invest in the team on the field.”

That criticism reached a crescendo recently when I reported that the Rockies’ payroll would take a hit in 2025.

The criticism isn’t supported by the facts.

However, it’s more than fair to criticize how the Rockies have spent their money. And we’re not talking only about the head-scratching, seven-year, $172 million contract they gave Kris Bryant before the 2022 season.

Colorado’s payroll has pretty much matched its mid-market status for several years. In 2018, their last playoff season, the Rockies’ $143.9 million total payroll (according to Spotrac) ranked 13th in the majors. In 2019, their $157.1 million payroll ranked 11th; in 2023, their $171.0 million payroll ranked 14th.

But in 2024, as the club lost 100-plus games for the second consecutive year, its payroll slid to $147.4 (17th). Like most major league teams that don’t own their own TV networks, the Rockies’ money stream was disrupted by the demise of regional sports networks. Look for that trend to continue.

I predict that after the Rockies make a couple of offseason trades and cut loose some players — right-hander Cal Quantrill with his projected $9 million salary is the most likely player to be moved — the payroll could dip as low as $130 million. Remember: The club will no longer have Charlie Blackmon’s $13 million contract on the books.

A lot depends on whether the team adds a veteran bat and a veteran reliever, but as Colorado’s lower-cost youth movement hits full stride, it will likely rank about 20th out of 30 teams in total payroll.

It’s the correct approach — for now.

The club should save its resources to invest in young big-leaguers like Gold Glove outfielder Brenton Doyle and prospects who have a chance to become tomorrow’s stars. I’m talking about players such as pitchers Chase Dollander and Carson Palmquist, as well as outfielders Zac Veen and Yanquiel Fernandez, should they develop as the Rockies hope.

General manager Bill Schmidt and the front office made a shrewd move last spring by signing shortstop Ezequiel Tovar to a $63.5 million, seven-year contract extension. The deal includes a team option for 2031 that could boost the agreement to $84 million over eight seasons. Tovar has a chance to be the best shortstop in franchise history, so the contract looks like a bargain.

Let’s face it: The Rockies are never going to challenge financial behemoths like the Mets, Dodgers, Yankees and Phillies. That doesn’t mean the Rockies can’t compete, but going forward, they have to get better at developing their own players.

In 2024, as they stumbled toward their 61-101 record, the Rockies spent $2.41 million per victory, the 14th highest in the majors. Not surprisingly, the Mets ranked No. 1. Their $317.8 million payroll resulted in an 89-73 record and a spot in the National League Championship Series. The Mets spent $3.57 million per win.

Of course, the Mets and Rockies are apples and oranges. But five playoff teams with lower overall payrolls than the Rockies also spent significantly less per win: Kansas City ($1.42 million), Milwaukee ($1.24M), Baltimore ($1.21M), Cleveland ($1.16M) and Detroit ($1.15M).

To end its losing tradition, Colorado has to stop making foolish choices with its payroll.

Topping the list, of course, was Monfort’s decision to give Bryant that mega-deal. I believe the Bryant signing was Monfort’s attempt at a “make good” in the wake of the wildly unpopular Nolan Arenado trade in 2021. Monfort vastly overpaid for star power even as other teams knew that Bryant’s star was dimming.

Bryant is still on the books for four more years and $104 million.

But it wasn’t just the Bryant deal that caused me to scratch my head. I understand that Blackmon is a beloved icon, but there was no reason, beyond sentimentality, to pay him $13 million for his final season. The Pirates gave Andrew McCutcheon, a similar player, a one-year, $5 million contract.

Near the trade deadline in 2022, amid trade rumors, closer Daniel Bard signed a two-year, $19 million contract to stay with the team through 2024. At the time, the hard-throwing right-hander was 3-3 with 21 saves and a 1.91 ERA in 37 games. But he was also 37 years old with a history of anxiety issues.

In 2023, as his anxiety issues resurfaced and arm injuries cropped up, Bard pitched poorly (4.56 ERA, one save), and injuries prevented him from pitching at all in 2024. The Rockies’ wishful thinking and decision not to trade Bard came back to bite them.

Considering the Rockies’ present reality, a relatively smaller payroll makes sense. The time to spend big was back in 2018 when the nucleus of a powerful team was in place. Alas, they didn’t do it.

Six years later, the Rockies believe they are beginning a bright new era. We’ll see. But one thing is certain: They can’t continue making monetary mistakes.