We still don’t know which team Juan Soto will pick in free agency, but we can already tell he’ll probably set the all-time record.
The New York Yankees and New York Mets have increased their offers for the free agent between $710 million and $730 million, according to Jon Heyman of the New York Post. If Soto were to sign a contract with that number, it would break the record for the largest known contract in sports history.
Heyman also states that the offer could end in the next day or two, just as the MLB Winter Meetings are set to begin.
The current record holder, of course, is Shohei Ohtani and the 10-year, $700 million contract he signed with the Los Angeles Dodgers last season. Soto is unlikely to touch Ohtani’s record average annual value of $70 million because his contract is expected to last more than a decade.
On the other hand, Soto’s contract could be worth significantly more if his contract didn’t include deferrals like Ohtani’s, which MLB values at $460 million for luxury tax purposes.
Juan Soto’s competition is getting silly
The big question now is whether the Dodgers, like the Boston Red Sox and Toronto Blue Jays, will join the New York teams in that bid level.
Those five teams have emerged as the top contenders for Soto’s services over the past few weeks, and this report from Heyman, well known for his connection to Soto’s agent Scott Boras, could be seen as an order to submit their final offers. The Mets are believed to have the current highest bid by a small margin.
The race has a few other moving parts, such as whether a team is willing to put Soto on waivers and the possibility of double-teaming in free agency in the order of Alex Rodriguez.
At stake is not only a future Hall of Famer, but also the prime years of a likely Cooperstown resident. Soto, who turned 26 just two months ago, is poised to remain one of the best hitters in the game for years to come.
However it turns out, Soto will be rewarded not only for the patience he’s shown at the plate for the past seven years, but also for the patience he’s had while waiting for his payday. He turned down at least one offer in excess of $400 million from his old team, the Washington Nationals, and now he’s ready to top that by hundreds of millions of dollars.
It certainly helps that all of MLB’s heaviest financiers have decided to make you a priority, with the possible exception of the Dodgers, who might just make sure they don’t miss out on a deal if Soto decides to take advantage. offered as a developing super team.