NEW YORK — Juan Soto is expected to make a decision regarding his new team either before or during the upcoming winter meetings for baseball in Dallas, scheduled for December 8-12.
Soto has recently engaged in discussions with several teams, including the New York Yankees, New York Mets, Los Angeles Dodgers, Boston Red Sox, and Toronto Blue Jays, according to an individual close to the situation who spoke on the condition of anonymity.
Soto’s agent, Scott Boras, has requested that teams submit their initial proposals by Thanksgiving, as per another source familiar with the negotiations, also speaking anonymously.
As the premier free agent available this offseason, Soto has already established a noteworthy career. The four-time All-Star finished third in the AL MVP voting, concluding the season with a .288 batting average, 41 home runs, 109 RBIs, and 129 walks. Over his seven years in the major leagues, he has maintained a .285 career batting average, accruing 201 home runs, 592 RBIs, and 769 walks.
In 2022, Soto declined a lucrative 15-year, $440 million offer from the Washington Nationals, leading to his trade to the San Diego Padres, which subsequently sent him to the Yankees the following December. With the Yankees, he joined Aaron Judge and drove the team to the World Series, where they ultimately faced defeat against the Dodgers.
During discussions with teams, Boras emphasized Soto’s impressive postseason achievements, noting he is one of the only players to have recorded seven RBIs in a World Series at the age of 21 or younger, alongside Mickey Mantle. At just 20 years old, Soto also set the record for the youngest player to hit five home runs in the postseason. His .906 OPS in postseason play through age 25 outshines legends like Mantle and Derek Jeter.
Regarding his financial prospects, Soto is likely aiming for a record-breaking contract that surpasses Shohei Ohtani’s $700 million, 10-year deal with the Dodgers. However, due to the structure of Ohtani’s contract—particularly the substantial deferred payment component—comparing the two deals could prove complex. For example, under MLB’s luxury tax structure, Ohtani’s deal translates to an annual value of $46.1 million, while under different players’ association metrics, it’s valued lower.
If Soto secures a deal valued at $462 million without deferred payments, it would position him to claim the title of the most valuable contract in MLB history by average annual value, surpassing pitchers Max Scherzer and Justin Verlander, who are tied at $43.33 million per year with their Mets contracts.
In terms of overall contract value, Ohtani’s contract also eclipsed that of Mike Trout, who previously held the record with his $426.5 million deal with the Angels. Additionally, outfielder Fernando Tatis Jr. holds the record for the longest contract in MLB history, having secured a 14-year deal with the Padres.
The luxury tax implications will undoubtedly play a role in team bids for Soto, with several, including the Mets, Yankees, Dodgers, and Phillies, poised to incur significant surcharges due to their consistent luxury tax payments in recent years. The Toronto Blue Jays may have dropped below the tax threshold this season, allowing them to reset their rates and potentially open their options for negotiations.
The winter meetings could indeed serve as an opportune setting for Boras to announce a landmark agreement for Soto. This venue holds historical significance, as it was here that Alex Rodriguez’s groundbreaking $252 million contract was disclosed in December 2000, doubling the previous record set just days earlier.
Alongside Soto, several other impactful free-agent hitters are available this offseason, including third baseman Alex Bregman, and first basemen Pete Alonso and Christian Walker, in addition to outfielders Anthony Santander and Teoscar Hernández. Both Bregman and Alonso are also represented by Boras, adding depth to this year’s free-agent market.