DALLAS — Following the record-setting 15-year contract valued at $765 million for Juan Soto with the New York Mets, agent Scott Boras entered Nick & Sam’s steakhouse, accompanied by around a dozen members of his team.
As they celebrated, they were treated to champagne and indulged in a gourmet meal featuring deviled eggs, crab, shrimp, and a New York strip steak—a fitting choice after the Mets successfully acquired the All-Star outfielder from their rivals, the Yankees.
“It felt like Scott came in with his legion,” stated Boston Red Sox manager Alex Cora, who observed the gathering from across the restaurant on that Sunday evening.
Soto’s contract, which stands as the most considerable and extended in the history of baseball, was still pending a physical examination. The news rippled through the winter meetings and particularly affected the Yankees, who had increased their own offer just that morning to $760 million over 16 years, up from an earlier proposition of $712.5 million for the same timeframe.
“It really hit me when I thought about my eldest child being 28 years old by the time the contract ends. It truly puts everything into perspective,” said Buster Posey, president of baseball operations for the San Francisco Giants.
Yankees manager Aaron Boone found out about Soto’s signing immediately after his flight landed in Dallas. “As soon as we touched down, my phone alerted me that he had signed with the Mets,” Boone recounted.
Faced with confusion, he sent a simple face emoji to Mets manager Carlos Mendoza, who initially didn’t grasp the message. “I didn’t know what he meant at first,” Mendoza added with a shrug.
Soto’s agreement, which includes a hefty $75 million signing bonus, has the potential to escalate to $805 million if the Mets choose to nullify his option to exit the contract following the 2029 season.
“Seeing that signing bonus shocked me. Wow,” remarked Cincinnati Reds manager Terry Francona, recognizing the steep competition for securing player contracts moving forward. “It definitely complicates matters for us, but I don’t fault teams for going for it if they can swing it. They aren’t violating any rules. We must make wise choices and avoid overspending on the wrong players.”
The ramifications of Soto’s contract have significantly heightened expectations within the free-agent landscape, which also features prominent names such as pitchers Corbin Burnes and Max Fried, first basemen Pete Alonso and Christian Walker, third baseman Alex Bregman, and outfielder Anthony Santander.
“I think every team’s focus is to finalize their rosters as quickly as possible through trades and free agency,” declared Yankees general manager Brian Cashman.
There are concerns among other franchises about the financial dominance of Mets owner Steve Cohen, who has consistently made his team the largest spender over the past few seasons. “We’re determined to win, and our owner is prepared to invest what it takes,” Mendoza remarked.
Although Mets president of baseball operations David Stearns refrained from commenting on Soto until the deal was officially complete, he reflected on past offseasons. “Every year, there’s a sense of inflation within free agency, followed by concerns that many players will either not receive fair salaries or may find themselves out of jobs,” he expressed.
Many small-market teams have long been in favor of implementing a salary cap, but since the 1994-95 strike, there has been an agreement to avoid proposing a stringent limit, knowing it could incite another protracted work stoppage. The current labor agreement is set to expire in December 2026.
Most teams found themselves unable to compete in the bidding for Soto. “We need to think creatively. It’s about assembling the best group of 26 players, rather than just acquiring a star or two,” asserted Kansas City Royals manager Matt Quatraro. “While Soto will have a significant impact with a chance to bat four or five times a game, there are other strategies to create a competitive roster.”
At just 26 years old, Soto played a crucial role in leading Washington to the 2019 World Series title. In 2022, he famously declined a $440 million, 15-year offer from the Nationals, which ultimately led to his trade to San Diego.
“I like to think I’m the only manager who has won a World Series with him,” joked Nationals manager Dave Martinez.
After being traded from San Diego to the Yankees last December, Soto helped the Yankees capture their first AL pennant since 2009, although they ultimately lost to the Los Angeles Dodgers in the World Series.
Following the intense negotiations, Boras reached out to finalize offers on Saturday night. Cashman acknowledged Steinbrenner’s devotion, stating, “Hal really put in an effort to keep Juan Soto with us. He’s a one-of-a-kind talent at a uniquely beneficial age.”
After informing Cashman that Soto would be going to the Mets, Boras urged him to relay the news to Steinbrenner and team president Randy Levine together.
Cashman also noted that the Yankees held discussions with pitcher Blake Snell before he opted for a $182 million, five-year contract with the Dodgers. He remains interested in pursuing other clients represented by Boras, including Burnes and Bregman.
“Whenever you have a chance, let’s connect and discuss who’s left on the table,” Cashman told Boras during their conversation that Sunday evening.
