The New York Yankees season has started strong in 2024, largely thanks to Juan Soto's contributions. The Yankees obtained Soto in a seven-player trade from the San Diego Padres. seven-player trade from the San Diego Padres. The 25-year-old outfielder is set to become a free agent for the first time and is expected to receive a lucrative contract. Tim Britton of The Athletic has predicted a 14-year, $540 million deal for the outfielder. Before the Yankees' May 4 matchup, Soto mentioned that he is unsure if he wants to continue playing for the team long-term, according to the New York Post’s Jon Heyman.
Heyman asked Soto if he wanted “to stay in pinstripes” before the matchup against the Detroit Tigers.
“Right now, I'm still getting to know the team. It's too early to make a decision after just one month into the season,” said Soto. “We need to see how things go until the season ends.”
Since arriving in New York, Soto has never rejected the idea of staying with the Yankees. According to Heyman, Soto's response is simply a cautious move not to reveal his plans, which is a smart approach.
“I’ve really enjoyed it,” Soto mentioned about his time as a Yankee so far. “It’s been a great experience. It’s a great group of guys. We all feel comfortable playing for each other. It’s feeling great so far.”
Yankees Should Expect Soto’s Deal to Reset the Market
Soto will likely seek a record-breaking salary when the time comes for him to sign. Soto signed a $31 million contract this offseason, setting the record for an arbitration-eligible player. However, the Yankees are in a good position to offer the money, as stated by Jomboy Media’s Jimmy O’Brien according to Jomboy Media’s Jimmy O’Brien.
“They have got a lot of money coming off the books this year so they’re set up financially as well to give him a decent deal,” O’Brien said during an April 22 appearance on MLB Network.
The Yankees won't be the only team interested in signing Soto. According to Heyman, the New York Mets will have the best chance of enticing him away.
“Steve Cohen has the most money, ultimately, even if he doesn’t have the highest revenue. To me, that’s the team that’s got the best chance probably to steal him away,” Heyman said during an April 5 appearance on Around the Bases.
The Yankees already have Soto on their team. However, they have not “tried to even explore what it might take to secure an extension,” according to NJ.com’s Randy Miller.
Soto is already a three-time All-Star and four-time Silver Slugger. At his age, with his achievements, there's a chance that his next contract will surpass the $500 million mark, as indicated by ESPN’s Alden Gonzalez.
The effort to sign Soto will likely need to exceed the 15-year, $440 million extension he turned down from the Washington Nationals, according to MLB.com’s Jessica Camerato.
Soto’s Free Agency Desires
Unless an extension is agreed upon, Soto will explore free agency after the season concludes. Soto aims to sign a long-term deal and “just finish in that one spot,” wrote Gonzalez.
Whether with the Yankees or elsewhere, Soto doesn't want to go through the process of seeking offers again. When discussing his desires, he referred to his former teammates Bryce Harper, Trea Turner, Xander Bogaerts, and Manny Machado, who all signed long-term deals, as per Gonzalez.
Juan Soto said that players sign long contracts because they think they will finish their career on that team. Anything unexpected could happen in the future, like getting traded. But if they sign a long contract, it's their choice if they want to be traded, rather than becoming a free agent and looking for a new team. They just believe they will stay with the team for a long time.
The Yankees have not discussed extending the contract with the young superstar. However, Soto, who is represented by Scott Boras, is open to considering offers to extend the contract, according to Miller.
Soto mentioned in March that if the team wants to discuss the contract, they can speak with Scott Boras. He mentioned that he's focused on playing baseball and being part of the Yankees at the moment, without worrying about it.
