In order to acquire Juan Soto from the San Diego Padres this offseason, the New York Yankees had to make a number of trades, including giving up a Gold Glove outfielder and many pitchers. Even though Soto is expected to greatly improve their hitting order, he will be an unrestricted free agency at the end of the season.
As he approaches the prime of his career, he might command a historically high contract if the Yankees are unable to extend him during the season. Jim Bowden of The Athletic wrote “MLB predictions” for 2024, predicting that the Yankees will be the team to sign him to a long-term contract.
“Juan Soto, who turned down a $440 million offer from the Nationals in 2022 before being traded to the Padres at the trade deadline, will become a free agent in November and, when he re-signs with the Yankees on a 14-year contract worth $501 million, he will become the second half-billion dollar player in MLB history (after Shohei Ohtani),” Bowden projected.
The New York Mets, who have been connected to a chase of Soto through 2025 and beyond, will likely lose to the Yankees in a $1 million bid, he continued.
How Much Would Re-Signing Juan Soto Cost the New York Yankees?
It appears highly likely that Soto will create history wherever he signs his next deal.
Tim Britton, Bowden’s coworker at The Athletic, agreed that Soto’s next contract will probably be in the neighborhood of 14 years. He continued by saying that Soto might be in line for even more than Bowden had projected, given the massive contracts inked by players like Bryce Harper, Manny Machado, and Aaron Judge, a colleague on the Yankees.
“Soto’s prime years are worth $50 million apiece if a single win above replacement is valued at about $9 million on the open market,” claims Britton. Thus, let’s value Soto contracts for the first five years at $50 million apiece and his seasons from age 31 to age 39 at 80 percent of Judge, or $32 million. When you combine those two elements, you get a 14-year contract with around $540 million in free agency.
After Shohei Ohtani, who inked a $700 million, ten-year contract with the Los Angeles Dodgers this summer, Soto would have the second-largest MLB contract ever. A $500 million or more contract for Soto would make Ohtani, a two-way superstar, the highest-paid offensive player of all time.
Mookie Betts (12-year, $365 million agreement with the Dodgers), Mike Trout (10-year, $360 million pact with the Los Angeles Angels), and Judge (9-year, $360 million free agency contract with the Yankees) own the current hitting contract records.
Juan Soto May Get a Record-Breaking Contract for 2025 and Into the Future Thanks to His Production
Given Soto’s career to date, a deal in this category was undoubtedly merited. In addition to being the 2020 National League hitting champion, he is a four-time Silver Slugger Award winner, three-time All-Star, and member of the MLB First Team thrice. He had a career slash line of.284/.421/.524 in six years in the Major League Baseball, with 160 home runs and 640 walks. With that OBP, he leads all active MLB career leaders.
A stellar 2024 season with the Yankees might further strengthen his impending contract.
“Soto achieves career highs in runs scored and home runs, benefiting from hitting ahead of Judge,” Bowden stated in his forecast.
