ESPN report: Yankees’ key man is expected to sign a $655 million free agent contract.
As of 2024, the New York Yankees are among the top clubs in Major League Baseball. The team’s early-season success has been largely attributed to outfielder Juan Soto. Despite receiving $31 million from the Bombers this season, the Scott Boras client is still expected to become a free agent in November. What is required for the 25-year-old to put pen to paper this winter? Depending on who you ask, yes.
Regarding Soto’s impending free agency, ESPN’s Kiley McDaniel conducted a poll of 28 executives, agents, and insiders on a variety of subjects. One section concerned the type of deal he would ultimately sign. The responses varied greatly. Three forecasters indicated he would sign a contract for less than $400 million, while three more said he would receive more than $600 million. The highest projection out of the 28 was 10 years at $655 million.
Even though Soto’s numbers make it difficult to argue against him, some players in the league may disagree. Upon his debut in 2018 as a 19-year-old, he quickly established himself as a formidable presence in the batter’s box. In addition to winning four Silver Slugger Awards and a batting crown, he is a three-time All-Star. Soto was a key player in the Washington Nationals’ 2019 World Series victory.
He’s scorching through his first 298 at-bats with the Bombers in 2024.316/.426/.594 with 11 doubles, 53 RBI, 52 runs scored, and 17 home runs.
A Recurring Theme Ran Through Several of Soto’s Contract Predictions
McDaniel gave all the specifics of the forecasts made by the individuals he met with. Eight believe Soto will close a sale for $499 million to $400 million. But an astounding 14 believe he will get a contract worth $599 million to $599 million.
The Nationals offered Boras and Soto a $440 million, 15-year deal in 2022, but they turned it down. Thus, it stands to reason that they’re aiming higher than that. Shohei Ohtani’s $700 million deal with the Los Angeles Dodgers includes an annual average value of $46 million and a net present value of $460 million once deferrals are taken into consideration. According to those McDaniel talked with, Boras will try to surpass both figures.
These contract projections ranged from $500 million to 13 years on average. That is rather close to the $540 million, 14-year prediction that Tim Britton of The Athletic presented in December.
Which Teams Will Try to Win the Soto Trophy This Winter?
Soto might be a talent for future generations. He wants to be the first choice on every squad. But very few are able and prepared to give him half a trillion dollars over the course of the next ten or more years.
“The Yankees and Mets were by far the most popular response when discussing potential outcomes with our panel of baseball insiders,” McDaniel stated. “It’s still very early, of course.” The Texas Rangers, Washington Nationals, San Francisco Giants, and Toronto Blue Jays were all mentioned frequently, but at this point, everyone else is viewed as second-class to the New York clubs.
Before Soto ever put on the uniform for his official debut in pinstripes, there had been rumblings for months about a potential bidding war between the Mets and Yankees. Once Soto enters the open market, Mets owner Steve Cohen and head of baseball operations David Stearns are anticipated to act decisively. Owner of the Yankees Hal Steinbrenner hopes to soon have a salary that is less than $300 million. That shouldn’t stop them from pursuing Soto, though.
