LATEST: Yankees Expected to Sign Record $701 Million Deal to Continue 4-Time Silver Slugger

The acquisition of Juan Soto, a four-time Silver Slugger and three-time All Star in the prime of his career, by the New York Yankees was the most significant deal of the offseason. With Soto, Aaron Judge may not be the finest left-handed hitter in the majors.

In order to avoid arbitration in 2024, Soto and the Yankees reached an unprecedented one-year, $31 million deal. Now, unless they reach an extension, Soto will become a free agent at the end of the season.

Eli Ben-Porat of Baseball America made a “bold prediction” for 2024, stating that the Yankees will sign their new star to a 15-year, $701 million contract, making it the largest MLB contract ever.

“Letting a 25-year-old future hall of famer walk away in free agency would be a rather shocking outcome,” Ben-Porat said. Is it really that brave to forecast that Juan Soto will sign the largest contract in history? Maybe not, if you believe the Yankees will stop at nothing to keep him.

Juan Soto Could Be Signed by the New York Yankees for $701 million.
Shohei Ohtani, a two-way superstar, inked a 10-year, $700 million contract with the Los Angeles Dodgers shortly after Soto was traded to the Yankees, making him, by far, the highest-paid player in MLB history. This comfortably surpassed the record of $426 million for a 12-year agreement from 2019 set by Mike Trout and the Los Angeles Angels.

If Soto decides to sign as a free agent, there will undoubtedly be a sizable market for his services—that is, if he performs up to par this season. The Yankees would probably need to state unequivocally that Soto won’t get better from any other team in order to stop him from doing so; this is something they usually do with players they desire.

Ben-Porat continued, “It has been more than ten years since Robinson Cano stunned the baseball world by declaring his intent to sign a free agent contract with a different team and leaving the Yankees.” “The Yankees rarely experience this because they usually go above and beyond to keep their star players.”

Even for a guy who is just starting his prime years and is generally regarded as a generational talent, the Yankees may be overpaying at $701 million. Ohtani’s deal amount may not be equivalent for Soto because he is an unparalleled dual threat both in the batting cage and on the pitching, and he may have additional marketing value due to his status as a Japanese star.

According to Zach Britton of The Athletic, Soto is expected to receive a $540 million, 14-year contract extension. Ben-Porat, however, predicted that the Yankees would need to smash the record in order to prevent Soto’s agent, Scott Boras, from looking into other possibilities.

He stated, “Juan Soto is only a batter and does not pitch, so it would be unlikely that he would command as much as Shohei Ohtani in any other situation.” “But with a player as talented as Soto, Scott Boras will have his top priority on creating history by signing the biggest contract ever.”

The 2024 Season Will Be Important in the Contract Talks Between Juan Soto and the New York Yankees
Events on the diamond in 2024 will presumably have the biggest impact on Soto’s future.

Right now, Soto’s predicted line is.278/.418/.507 with 84 RBI, 28 home runs, and 119 walks. Even though Soto’s 2020 season was among the finest in MLB history, and even if his output from that season would be a step back from last season, if the rest of the team can perform as well, it should be enough to carry the Yankees well into the postseason.

In order to guarantee that Soto and the team continue to perform well together for years to come, a record-breaking agreement may be struck if Soto is a major factor in the Yankees reaching their historic playoff form.