Yankees to Extend 4-Time Silver Slugger With Record $701 Million Deal
In a significant move this offseason, the New York Yankees completed their most impactful trade by bringing in Juan Soto, a highly decorated player with four Silver Slugger awards and three All-Star selections. Soto, who is currently at the peak of his career, now possesses one of the most formidable left-handed bats in Major League Baseball, surpassing even Aaron Judge.
To settle matters for the upcoming 2024 season and avoid arbitration, Soto and the Yankees reached a groundbreaking agreement on a one-year, $31 million contract – setting a new record. However, unless an extension is agreed upon, Soto is expected to become a free agent at the end of the season.
In a bold forecast for 2024, Baseball America’s Eli Ben-Porat predicted that the Yankees will secure Soto’s services for the long run with a monumental 15-year, $701 million deal. This proposed contract would stand as the richest in the history of Major League Baseball.
Ben-Porat emphasized the unlikelihood of the Yankees allowing a 25-year-old player destined for the Hall of Fame to depart in free agency, calling it a shocking scenario. He questioned whether it truly qualifies as a bold prediction to anticipate that Juan Soto will receive the most substantial contract ever, presuming that the Yankees will go to great lengths to retain him.
The New York Yankees Hold the Key to Securing Juan Soto with a 700 million deal with the Los Angeles Dodgers, establishing himself as the highest-paid player in MLB history by a significant margin. This deal shattered the previous record held by Mike Trout of the Los Angeles Angels, who signed a $426 million, 12-year extension in 2019.
Given Soto’s anticipated performance this season, he is poised to attract strong interest in the event he enters free agency. To prevent this scenario, the Yankees would likely need to signal to Soto that no other team would offer him a more lucrative deal, a tactic they have historically employed with players they value.
Ben-Porat remarked, “It has been more than ten years since Robinson Cano surprised the baseball community by departing the Yankees for a free-agent contract with another team. Such occurrences are rare for the Yankees, as they typically go to great lengths to retain their star players.”
At $701 million, however, the Yankees may be exceeding expectations, even for a player like Soto, widely regarded as a once-in-a-generation talent entering his prime years. Ohtani’s contract, as an extraordinary dual threat both at the plate and on the mound, may not serve as a direct comparison due to his unique marketing appeal as a Japanese star.
While Zach Britton of The Athletic has forecasted a 14-year extension worth $540 million for Soto, Ben-Porat believes the Yankees may need to break records to dissuade Soto’s agent, Scott Boras, from exploring alternative options.
“Juan Soto excels as a batter without pitching abilities, which typically wouldn’t warrant a contract as substantial as Shohei Ohtani’s. However, considering Soto’s exceptional talent, securing the largest contract in history will be a top priority for Scott Boras,” he noted.
The outcome of the 2024 season will play a crucial role in the discussions regarding Juan Soto’s contract with the New York Yankees.
The outcome of Juan Soto’s performance in the 2024 season will greatly influence his future prospects. Currently projected to achieve a .278/.418/.507 slash line with 119 walks, 28 home runs, and 84 RBI, although this would represent a decline from his previous season and fall short of his remarkable 2020 performance, it could still significantly contribute to the New York Yankees’ success in the playoffs, provided other team members also play their roles effectively.
If Soto plays a significant role in the Yankees’ resurgence in the postseason, it could pave the way for a groundbreaking contract that secures his continued collaboration with the team for years to come
