At Least $600 Million; Putting Juan Soto’s Value Into Perspective After He Joins Aaron Judge, Shohei Ohtani in an Exclusive Club

The New York Yankees have enjoyed stellar success, being one of the top-class teams in the 2024 MLB season. Juan Soto has played an integral part in making the franchise successful. While the Yankees pay him $31 million annually, Soto’s agent, Scott Boras, has not hinted at a contract extension.

Eventually, after the current 2024 season, Juan Soto will become a free agent. Previously, Scott Boras rejected a $440 million, 15-year contract from the Nationals in 2022. Now with the Yankees, Soto’s free agency seems inevitable this time. With a panel of 28 executives, insiders, and agents predicting Soto’s future deal, ESPN’s McDaniel tried his best to solve the long-awaited Soto’s future contract puzzle. 

Regarding Soto’s free agency, the panels discussed the right number for the star Yankees outfielder’s contract. Opinions varied widely. Three panelists concluded he would sign a deal worth less than $400 million, while the other three predicted he would secure a contract exceeding $600 million.

Eight people predicted Soto would land a deal between $400 and $499 million. However, the best projections for Soto were yet to come, as 14 people believed he would sign a contract worth $500 to $599 million. After analyzing all 28 predictions, the final average figure came out to be a whopping $655 million.

While some players or fans might think Soto is overrated, his numbers tell a different story. Since debuting at age 19 in 2018, he has been a force to be reckoned with in the batter’s box. A three-time All-Star, four-time Silver Slugger award winner, and batting title holder, Soto, at 25, is looking unstoppable. If that’s not enough, Soto helped the Washington Nationals win the 2019 World Series, a feat he’s hopeful to replicate with his future team. 

Previously, Shohei Ohtani signed the biggest MLB deal for 10 years at $700 million with the Dodgers. Being a two-way player definitely helped him get the deal. Additionally, Aaron Judge’s $360 million deal for a 9-year contract was the second-best one. However, since Juan Soto is four years younger than Ohtani, chances are high that he would land in the same numbers. 

Which teams can go after Juan Soto in the bidding war?

As Scott Boras said, Soto is a generational talent; every team wants him in their lineup. However, the number of teams bidding for him would be much smaller due to his high price. “It’s still very early, of course, but the Yankees and Mets were by far the most common answer when discussing potential outcomes with our panel of baseball insiders. Beyond them, the Texas Rangers, Washington Nationals, San Francisco Giants, and Toronto Blue Jays were all brought up multiple times — but everyone else mentioned is seen as secondary to the New York clubs at this point,” McDaniel said. 

As the situation unfolds, Yankees owner Hal Steinbrenner has openly stated that the club is dealing with luxury tax penalties. Increasing the current payroll of $313 million could necessitate cutting costs in other areas. Additionally, Mets President of Baseball Operations David Stearns and owner Steve Cohen have shown serious interest in Soto.

Once Soto hits free agency, the Mets are expected to pursue him aggressively despite analysts predicting his high contract numbers. Ultimately, the bidding war between the Mets and Yankees will be fascinating to watch. With such intense competition, the likelihood of Soto securing a contract above $600 million seems more than a possibility now.