December 8th, 2024 – Sunday Night: Jon Heyman broke the news that the baseball was waiting for. Juan Soto was going to the New York Mets. Many thought the Mets and the Yankees had the advantage in the Soto sweepstakes, but the Mets blew everyone’s expectations away. An offer for $765 million over 15 years would get the deal done, and Juan Soto will likely be a New York Met for life.
The 2023 MLB offseason saw a staggering $700 million 10-year contract for the game’s biggest superstar Shohei Ohtani. Ohtani’s then record-breaking contract came as a shock to many, as the largest free agent contract was set with the New York Yankees just a couple of years earlier, but at a much smaller number. Aaron Judge signed with the Yankees for 9 years and $360 million, a contract which many thought was fair. But Ohtani’s contract was unique, as he was the first player to hit and pitch successfully since Babe Ruth 100 years ago. While the $700 million number was shocking, it came with an odd additional: $680 million was deferred. This means that Shohei Ohtani will only be paid $2 million/year from 2023-2032, and then will be paid $68/year for the next 10 years after that.
Aaron Judge set the record for the largest free agent contract in 2022, only to be beaten the next two consecutive years
But Juan Soto’s $765 contains zero deferrals, meaning that if he stays with the Mets for the next 15 years, they will be required to pay the full salary each year. Soto’s contract comes with an opt-out clause in five years, which states that Soto can opt out of his contract and reenter free agency. The Mets can void that opt-out if they add $5/year for 10 more years. This means that Soto’s total contract can be worth an astronomical $805 million over $15 years.
Update – December 11, 2024
After passing his physical, Juan Soto’s contract with the New York Mets is official. He will receive a $75 million bonus salary, and the rest of the of $690 million will be spread throughout his 15-year tenure, though some years will vary in total pay.
