REPORT: Yankees general manager Brian Cashman Anticipates Superstar To Enter Free Agency; Extension Unlikely

The 2024 season is poised to be a significant one for superstar outfielder Juan Soto, as he embarks on his first and potentially only campaign with the New York Yankees. Acquired in a blockbuster trade during the winter meetings, Soto enters his final year of arbitration with a record-setting salary of $31 million.

Despite his impressive tenure with the Nationals, Soto’s future with the Yankees beyond this season remains uncertain. General manager Brian Cashman has indicated that the odds favor this being a one-year arrangement, suggesting that Soto is likely to explore free agency next winter. This decision aligns with Soto’s representation by Scott Boras, who typically advises his clients to test the market for maximum value.

Given Soto’s youth and projected earning potential of $500-600 million in a long-term deal, it’s understandable that he and Boras would opt for free agency. While a standout season with the Yankees could bolster their efforts to retain him, any potential long-term deal is unlikely to involve a discount, given Soto’s status as a generational talent.

Since his debut in 2018, Soto has consistently been among the game’s top hitters and all-around players, culminating in a World Series ring with the Nationals in 2019. With his impressive achievements at just 25 years old, Soto’s impending payday is eagerly anticipated, whether it comes from the Yankees or another team in free agency.

While the possibility of a long-term extension with the Yankees remains, it’s more probable that Soto will seek his massive payday in the free-agent market next winter, rather than committing to an extension prior to that.