Could securing Soto’s signature exceed $600 million?
Soto likely isn’t preoccupied with his upcoming winter as a free agent at the moment. With the 2024 World Series just around the corner, he’s focused on performing at his best to help the Yankees secure their 28th title.
However, once the Fall Classic concludes, Soto will need to shift his focus to the next chapter of his career. He is set to be the premier free agent available, entering the market at just 26 years old after a remarkable season with New York, regardless of the World Series outcome. In short, Soto is poised to command a massive payday. But just how much? The Athletic’s Jim Bowden (subscription required) has predicted a staggering $622 million over 15 years.
“Most executives believe he’ll end up somewhere between $550 million and $650 million, which will likely narrow his options to both New York teams and possibly the Blue Jays,” Bowden noted. “Other teams like the Dodgers, Phillies, Rangers, and Nationals could also enter the fray for Soto.”
Any amount in that range would fall only behind Shohei Ohtani’s $700 million deal with the Dodgers last December in total value and would also mark the longest contract in MLB history. If Bowden’s prediction holds, Soto’s average annual value of $41.4 million would rank as the fourth-highest in MLB history, trailing only Ohtani’s $70 million and the $43.4 million earned by pitchers Max Scherzer and Justin Verlander this year.
Yet, that might not be sufficient. The Athletic’s Ken Rosenthal suggested this Wednesday that he believes “Soto’s AAV is going to start with a five.” In today’s terms, a $50+ million AAV would surpass Ohtani’s contract, as most of his earnings are deferred until 2034 and beyond.
Last month, experts from MLB.com concurred that the Yankees, Mets, Nationals, and Giants are the leading contenders for Soto. However, MLB Network insider Jon Heyman has indicated that the Blue Jays are also seen as a potential suitor.
