Contract breaks MLB record for largest trade

On By Littum

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DALLAS — Juan Soto made it abundantly clear he wanted to sign with the highest bidder when he became a free agent after the New York Yankees lost the World Series.

He was a man of his word.

Soto agreed to a staggering 15-year, $765 million contract Sunday night with the New York Mets, breaking the record for the largest contract in sports history.

The Yankees, Boston Red Sox and Toronto Blue Jays all submitted bids of at least $700 million, but the Mets came in with the highest, just $5 million more than the Yankees’ 16-year, $760 million contract, a senior Yankees executive said. told USA TODAY Sports.

Still, while there was only a $5 million difference overall, the annual average salary for the Mets’ contract is $51 million compared to the Yankees’ $47.5 million AAV.

The deal also doesn’t include a dime of deferred money with a $75 million signing bonus, along with an opt-out after the fifth year.

If the contract wasn’t already big enough, it could be worth $805 million, a person with direct knowledge of the deal told USA TODAY Sports. The Mets have the right to void Soto’s buyout if they increase his salary from $51 million to $55 million beginning in 2030 for 10 years.

Soto’s deal is more than $300 million richer than any contract in baseball history.

Shohei Ohtani signed a 10-year, $700 million contract last year with the Los Angeles Dodgers, but with $680 million deferred, that lowered the current value to about $460 million.

And like Mets owner Steve Cohen, the richest owner in baseball, showed his financial power by refusing to be tendered.

That’s why executives told USA TODAY Sports two weeks ago that the Mets were the “clear favorites” to land Soto, believing Cohen simply didn’t want to lose.

As Soto informed the Mets he was on his way, the Washington Nationals’ front office had dinner at the Anatole Hotel and recalled that 2½ years ago they had offered Soto a 15-year, $440 million deferred contract.

Soto’s rejection of the offer turned out to be the best financial investment since Tesla, and perhaps the Nats’ most prudent decision in trading him to San Diego in July 2022, knowing they couldn’t afford to give him an extension.

While the talk all along was that Soto was seeking a $500 million contract and might even reach $600 million once Ohtani signed, no one could have imagined him reaching $700 million with four teams still in the bid, and the Mets added $30 million. for their last offer on Sunday.

Then again, who ever thought the Mets would pay Soto more than double the amount MVP Aaron Judge received two years ago from the Yankees in his nine-year, $360 million deal?

The question now is, how do the losing teams in the Soto sweepstakes rebound? The Yankees are now expected to make a serious push for free agent Christian Walker, make a run at third baseman Alex Bregman and perhaps trade for Chicago Cubs outfielder/first baseman Cody Bellinger. The Red Sox are looking to sign either starter Max Fried or Corbin Burnes, who is being pursued by the San Francisco Giants. The Red Sox want at least Fried or Burnes and could trade for Nolan Arenado from St. Louis Cardinals. And the Blue Jays hope to sign slugger Anthony Santander or Teoscar Hernandez.

The dominoes will soon begin to fall at these winter meetings, but when the dust settles, the Mets will still be the ones smiling the widest, knowing they landed the big whale in the waters of the free trade market.

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