"We could see excess of $700,000,000" - MLB insider claims Shohei Ohtani's record might fall to Juan Soto with free agent's next contract
The free agency of Juan Soto has been the overriding topic of discussion in the MLB this winter following the conclusion of the World Series. MLB insider Jeff Passan believes this saga is about to reach its climax in the next few days.
Passan stated that Soto will be signing a contract within a couple of weeks that could possibly exceed the record-breaking $700 million deal that Shohei Ohtani signed last year.
Soto is a four-time All-Star and five-time Silver Slugger-winning outfielder who made his MLB debut as an 18-year-old for the Washington Nationals and won the World Series the following year. He rejected an extension with the team he was shipped to the San Diego Padres in 2022. Soto joined the New York Yankees for the 2024 campaign and became a free agent at the end of the season.
ESPN analyst Jeff Passan made a short appearance on SportsCenter on Wednesday to provide his latest update on the marquee free agent.
"We are finally in the endgame after a month-long pursuit by teams for Juan Soto," he said. "And we know at this point that the final number is going to be at least $600 million over a double-digit number of years. Now, the question is how high can that go? If teams are willing to go to, say, 15 years, which they might be able to, because Juan Soto is only 26.
"We could see a contract potentially in excess of $700 million," he said. "Shohei Ohtani's 10-year, $700 million last off-season set the standard.
Soto had rejected a 15-year, $440 contract extension from the Nationals in 2022.
Jeff Passan expects Juan Soto to sign before the end of the winter meetings
Juan Soto had an excellent 2024 season with the New York Yankees and quickly became a big favorite among the home fans at Yankee Stadium. Therefore, re-signing him to a long-term contract has been the top priority of their front office this off-season.
However, they face stiff competition from their crosstown rivals, the New York Mets, and arch-nemesis, the Boston Red Sox, for his signature. The Los Angeles Dodgers and the Toronto Blue Jays are also among the teams vying for the free agent.
"At this point, we don't know who the favorites are," Jeff Passan said. "The Mets have been near the top the whole time. The Yankees, of course, the incumbent team. The Boston Red Sox, the Toronto Blue Jays, and the Los Angeles Dodgers are all still in it.
The expectation is that there will be meetings over the weekend, and it's at that point Juan Soto will decide where he is going to go," he added. "And we will know at the latest by the time the winter meetings in Dallas start."
The 2024 MLB Winter Meetings will be held in Dallas, Texas, from December 9-12.