Top free agent hitter Juan Soto has set his sights on an impressive $700 million MLB free agency contract — a record-breaking figure not hampered by the 97 percent deferred structure of Shohei Ohtani’s Dodgers contract. Following the Yankees’ World Series loss to Ohtani’s Dodgers, interest in Juan Soto spiked, with 11 teams reportedly expressing interest by Thursday morning. Although official discussions about salary are prohibited until free agency opens, the buzz around Soto’s $700 million target is undeniable.
Soto enjoyed his year with the Yankees, who view him as not only a phenomenal player but also a “great guy.” However, insiders believe Juan Soto’s contract will prioritize financial value and the potential for championships. It’s speculated that Soto aims for a contract spanning 14 years, potentially making him MLB’s first player with a non-deferred $50 million annual salary.
The Yankees, historically reluctant to set market highs, only matched the Giants’ $360 million offer to retain homegrown superstar Aaron Judge. For Soto, who isn’t a Yankees original, there is some uncertainty about whether the Yankees will offer the historic $700 million contract he seeks.
Other teams are keen, with the Mets (under the wealthiest MLB owner, Steve Cohen) and the Dodgers (who have enjoyed a revenue boost since the Ohtani deal) likely to join the Juan Soto free agency sweepstakes. Teams like the Giants, Blue Jays, and Red Sox are also expected to pursue him, while some small-market teams might offer Soto a chance to be their franchise centerpiece.
While Soto maintains no single team has an advantage, insiders note that he generally enjoyed his time in New York. His 2023 stats (41 home runs, .989 OPS) highlight the power he brings to any lineup, which explains the high demand. Now, at 26, Juan Soto’s age plays in his favor, potentially securing him a higher payout than Ohtani’s $437.4 million due to his longer career potential.
Soto’s free agency journey remains wide open, and while he appreciates his Yankees experience, he’s clearly focused on the best overall offer. As the MLB free agency heats up, Soto’s decision could reshape the league and set a precedent in sports contracts.
