In a move that has sent shockwaves through Major League Baseball, star outfielder Juan Soto spurned his former team, the New York Yankees, and agreed to a record-breaking 15-year, $765 million contract with the crosstown New York Mets. The deal, which dwarfs all previous MLB contracts in total value, signifies a new era in player compensation and underscores the Mets’ commitment to winning a World Series title.
Financial details of the contract reveal a king’s ransom for Juan Soto’s talents. The 26-year-old Dominican sensation will receive an average annual value of $51 million; essentially his yearly salary, eclipsing the previous record set by Shohei Ohtani’s $46.1 million AAV with the Los Angeles Dodgers. The massive contract includes a hefty $75 million signing bonus, payable upon approval by the commissioner’s office. Not bad for signing on the dotted line. The deal does include an opt-out clause after the fifth season, allowing Juan Soto to potentially test free agency again at the prime age of 31 if he thinks he can get an even better deal.
It’s unclear why in the world Juan Soto would want to leave the Yankees, who reportedly offered a competitive 16-year, $760 million deal. It could be that Juan Soto thinks the Mets have a greater chance of winning a championship. The Mets, who are fresh off a National League Championship Series appearance, boast a strong young core and a deep farm system, potentially providing a more sustainable window of contention for Juan Soto.
The record-setting contract reflects not only Juan Soto’s immense talent, but also the ever-inflating landscape of MLB salaries. A four-time All-Star and one of the most feared hitters in the game, Juan Soto boasts a career batting average of .292 with a staggering .426 on-base percentage. His arrival in Queens instantly elevates the Mets’ offense, creating a potentially dominant lineup alongside Pete Alonso and Francisco Lindor.
Juan Soto isn’t the only athlete to sign a record shattering contract in the last few years.
- The previous biggest MLB contract was held by Shohei Ohtani who signed a record-breaking contract in 2023 with the Los Angeles Dodgers after a highly anticipated free agency period. Shohei Ohtani’s deal came just before he shattered another record of stealing 50 bases and hitting 50 home runs in a single season. His contract is reported to be worth a staggering $700 million over 10 years, and was the largest contract ever signed in professional sports until Juan Soto’s new $765 Million dollar deal with the New York Mets.
- In soccer, Cristiano Ronaldo holds the world record for the biggest contract of any athlete in any sport, with a contract for just the 2024 season worth an estimated $277.48 million dollars with the Saudi Pro League’s Al Nassr FC.
- In Formula 1, Red Bull’s Max Verstappen signed a five-year, $55 million dollar a year deal in 2024, locking him in until the end of the 2028 season.
- In the NFL, Dallas Cowboys quarterback Dak Prescott signed a four-year, $240 million contract extension just before the start of the team’s 2024 season. The contract includes $231 million dollars in guaranteed money with a $80 million dollar signing bonus. Dak Prescott will earn an average yearly salary of $60 million dollars, making him the highest-paid player in NFL history.
- In the NHL, the Toronto Maple Leafs top center, Auston Matthews, signed a four-year, $53 million contract extension in 2023 for the 2024 through 2028 season. That comes out to $13.25 million dollars per season, the highest contract pers search in the NHL.
Juan Soto’s signing is a watershed moment for both the Mets and Major League Baseball. With a generational talent locked in for the next decade and a half, the Mets just became instant World Series contenders. The astronomical price tag underscores the financial power of MLB franchises and the growing value of elite players. One thing is certain, baseball fans in New York are in for a treat with Juan Soto’s bat promising a new era at Citi Field.
Juan Soto signing with Mets on 15-year, $765 million contract