Following Shohei Ohtani’s record-breaking offseason move to the Los Angeles Dodgers on a 10-year, $700 million contract, rumors are circulating that Juan Soto is eyeing a similar total as he enters free agency.
Soto, represented by infamous agent Scott Boras, is reportedly seeking the same $700 million benchmark, though with a different approach to structuring the deal.
According to MLB insider Jon Heyman of The New York Post, Soto is looking to break the bank following the Yankees heartbreaking loss to the Los Angeles Dodgers in the World Series.
“Top free agent hitter Juan Soto’s new magic number is thought to be $700M (or more) — and that’s a solid $700M, not the record $700M contract that’s 97 percent deferred that Japanese superstar Shohei Ohtani received from the Dodgers,” Heyman reported.
Ohtani’s landmark deal with the Dodgers defers $680 million of the total contract, meaning his base annual salary for the next decade will be a modest $2 million, followed by $68 million annually in deferred payments from 2034 to 2043.
By structuring the contract this way, the Dodgers cap Ohtani’s luxury tax impact at $46.1 million per year, freeing up budget to bolster their roster around him. (It’s also a genius tax move for Ohtani personally.)
Experts don’t anticipate this deferred structure will become a trend, noting that few players enjoy the level of off-field earning potential that Ohtani does. “In general, people want their money now,” Heyman added.
As Soto heads into free agency at age 26, he has the advantage of youth, positioning him as a unique candidate for a potential 14- or 15-year contract.
While such a lengthy commitment may be daunting for any organization, Soto’s age and production make the prospect tempting, with many suggesting he could still be an offensive force in his mid-to-late 30s.
The Dodgers along with the New York Mets and Philadelphia Phillies are expected to keep a close eye on Soto in free agency.
Following the Yankees Game 5 meltdown, Soto was very clear that he and Boras will look at every offer and won’t close the door on any team who’s truly interested in his (expensive) services.
“I’m really happy with the city, with the team, how these guys do. At the end of the day, we’re gonna look at every situation, every offer that we’ll get and take the decision from there,” Soto said.
Despite Soto’s appreciation for the Yankees, he left the door wide open to possibilities across the league, adding, “Every team has the same opportunity.”
“I don’t know what’s the teams that are going to come after me. Definitely, I’ll be open to this and every single team. I don’t have any doors closed. I’m gonna be available for all 30 teams.”
With his sky-high asking price, it’s fair to assume that many clubs around baseball have already dropped out of the Soto-sweepstakes.
There are rumblings that teams such as the Toronto Blue Jays and Washington Nationals are also interested in Soto. Having said that, it’s hard to envision them opening their checkbooks the way the Yankees, Dodgers, Mets, and even the Phillies can.
One thing is for certain: There is extreme pressure on Yankees owner Hal Steinbrenner and general manager Brian Cashman to keep Soto in pinstripes.
Very few players have bet on themselves as much as Soto has. He’s already turned down hundreds of millions of dollars in offers because he knew this day would come.
Other than Soto, the only other player who has hit free agency with the combination of age, talent and accomplishments is Alex Rodriguez.
Steinbrenner and Cashman know they won’t be getting any hometown discount from Soto. After the Yankees embarrassing loss to the Dodgers in the World Series, the pressure to keep Soto in the Bronx has ratcheted up even higher.
What are your thoughts on Soto’s free agency outlook?
There are many who believe that Steve Cohen and the crosstown rival Mets will steal him away from the Bombers.
At the end of the day, where do you think Soto ends up and what will his contract look like???