Should Mets take the gamble and sign Juan Soto for Shohei Ohtani-esque $700 million deal?
The New York Mets, especially owner Steve Cohen, have shown in the past that they are not afraid of spending big bucks to sign the best free agents. Although it has not always been successful in the past, now with a strong core group of players capable of contending for the World Series, they could take a shot at the hottest free agent this year, Juan Soto.
Last year, the LA Dodgers broke the bank, committing $700 million to Shohei Ohtani for 10 years. Ohtani delivered in his first season, winning the World Series, and is slated to be one of the frontrunners for the National League MVP.
While the Japanese superstar was making headlines, Soto was gearing up for his impending free agency. In his only season with the New York Yankees, he hit 41 home runs with a .989 OPS. If not for his teammate Aaron Judge, he would have been the favorite to take home the American League MVP award. His strong season has made it harder for teams to come up with a price that would seal his future with the club.
Shohei Ohtani's two-way prowess allowed him to throw in a number as high as $700 million. The Dodgers accepted because they were getting both a hitter and pitcher for the next 10 years. The advantage that Soto has is that he is four years younger, and as per his fitness history, may play well past 40 years of age.
But because of the virtue of just being a hitter, the only way Soto can command a number as high as $700 million is if he locks his future with a team for 14 or 15 years. The Mets have the bandwidth to commit that amount.
They shed a lot of the 2023 payroll when they released big names like Justin Verlander and Max Scherzer. After further subtractions in 2024, they stand at $159 million for next year. They can afford to sign Soto, who has also said that he loves playing on the East Coast.
If they do commit 13-15 years, some money is expected to be deferred. However, the deal could be structured in a way that gives Soto the highest annual average value for any contract. That record is owned by Ohtani, who is valued at $43.7 million, as a large sum of his contract is deferred.
Mets President looking to go all out for Juan Soto
In a recent interaction with the media, Mets President David Stearns said that the team has the flexibility to add whomever they want.
"We've got financial flexibility," Stearns shared on Sunday, via SNY. "It means that pretty much the entirety of the player universe is potentially accessible to us. That's an enormous opportunity. I envision us taking advantage of that opportunity and being aggressive in certain spaces."
Stearns will be cautious with his approach despite Steve Cohen's willingness to go all out. Their main opponents will be Hal Steinbrenner and the Yankees, who will look to seal Soto as the face of the club for the next decade.