Several days before Juan Soto’s first home opener with the Yankees, the superstar discussed the topic of stability.
Only 25 at the time, it’s possible Soto’s definition of the word had become distorted and distilled. After being dealt by the Nationals and Padres earlier in his career, it had been a few years since the slugger went a full season without trade rumors swirling around his head. The average person wouldn’t consider one year in one spot stable, but the situation offered Soto more steadiness than he had become accustomed to.
“I think I’m gonna be here for the full year,” Soto said. “So I think that’s really good stability.”
Now 26, Soto has secured real stability, as well as generational wealth, while choosing to stay in New York City. However, it won’t be the Yankees providing that security, as the free agent has agreed to a 15-year, $765 million contract with the crosstown rival Mets after they reached the NLCS last season.
Soto’s pact, which is not yet official, is the largest in professional sports history, a fitting distinction after Steve Cohen’s deep pockets loomed over the supernova’s free agency. It will also pay Soto a record-setting average annual salary of $51 million. And unlike Shohei Ohtani’s 10-year, $700 million deal with the Dodgers, Soto’s contract does not include deferments, per multiple reports.
Soto’s deal does include an opt out after the fifth season and a $75 million signing bonus, per multiple reports. ESPN’s Jorge Castillo added that the Mets can void Soto’s opt-out by escalating his average annual average value from $51 million to $55 million over the last 10 years.
In addition to the Yankees, the Red Sox, Blue Jays and Dodgers were also in on Soto throughout his closely covered sweepstakes. According to Jon Heyman, the Yankees’ final bid was 16 years and $760 million — less total money and a lower average annual salary than what the Mets offered Soto.
Soto’s decision to bolt the Bronx is nothing short of disappointing for the Bombers, whose ideal offseason plan revolved around re-signing the charismatic right fielder. The Yankees liked their chances going into the offseason, as Soto genuinely seemed to enjoy his 2024 campaign with the team after being acquired from the Padres last December.
“It’s been a blast for me,” Soto said after the Yankees lost the World Series to the Dodgers.
The four-time All-Star, who fit into the Yankees’ clubhouse and bonded with fans all season — “re-sign Soto” chants became a common refrain at Yankee Stadium – added that he was “really happy” playing with a “really special group.”
Meanwhile, Yankees owner Hal Steinbrenner said that he understood fans desperately wanted Soto back at MLB’s Owners Meetings in mid-November.
“I’ve got ears,” Steinbrenner said. “I know what’s expected of me.”
Steinbrenner made that declaration after he, Brian Cashman, Aaron Boone, Randy Levine and Omar Minaya met with Soto and his agent, Scott Boras, for a few hours in Sothern California on Nov. 18. Steinbrenner described the Yankees’ visit as “good” and “very honest,” but the team ultimately traded Michael King, Drew Thorpe, Jhony Brito, Randy Vásquez and Kyle Higashioka to San Diego for just one year of Soto’s services (and Trent Grisham). That one season also cost $31 million, the record-setting 2024 salary Soto agreed to in order to avoid arbitration.
Soto went on to have the best year of his career, slashing .288/.419/.569 with 41 home runs, 109 RBI, a 180 wRC+ and an 8.1 fWAR while batting in front of Aaron Judge, the American League MVP.
Soto, who finished third in MVP voting, went on to hit .327/.469/.633 with four home runs and nine RBI in the postseason. While unable to win the second ring of his career, he put himself in prime position to ask baseball’s highest rollers for more than half-a-billion dollars.
With the Yankees unable to retain Soto, there are a number of ways they can now spend the money they wanted to give him.
The team has question marks at first, second/third (depending on how Jazz Chisholm Jr. is used) and in all three outfield spots, though Judge will occupy center or right. Steinbrenner, who generally prefers a payroll below the highest luxury tax threshold, which is $301 million in 2025, also said he wants a “deep dive” on the Yankees’ rotation and bullpen.
Some younger players, like Caleb Durbin and Jasson Domínguez, could fill a few of those spots on cost-efficient salaries. However, the Yanks can spread their Soto money around on the top remaining free agents, a group that includes, but is not limited to, Corbin Burnes, Max Fried, Christian Walker, Alex Bregman, Anthony Santander and Tanner Scott.
Willy Adames, seen as another potential fallback option, is already off the board after agreeing to a deal with the Giants.
The Yankees are also expected to pursue Japanese ace Roki Sasaki, though he will be limited to international signing bonus pool money once posted.
So the Yankees still have ways to improve — there’s also the trade market — after losing out on Soto. However, no singular hitter is going to replace his offensive production, which will now be on full display in Queens for the foreseeable future.
The Yankees will get their first look at Soto in blue and orange duds on May 16 when they host the first Subway Series game of the 2025 season. At that point, the Bronx faithful will no longer be cheering for Soto.
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