Juan Soto Predicted to Remain in AL East by Signing $520 Million Mega Deal

Getty Outfielder Juan Soto will be this winter’s top MLB free agent. Can the New York Yankees keep him in the Bronx for the long haul?

While the New York Yankees are focused on returning to the postseason in 2024, questions about 2025 and beyond linger. The biggest one of all involves outfielder Juan Soto, who is expected to become a free agent at the end of this season.

Can the Yankees re-sign the 25-year-old superstar to a long-term deal? With the trade deadline in the rearview mirror, Bleacher Report’s Zachary D. Rymer gave “way too early” free agent predictions for 10 players. His prediction for Soto is he’ll re-sign with the Bombers to the tune of 15 years and $520 million.

“Yankees owner Hal Steinbrenner may not have helped his cause by whining about “unsustainable” payrolls in May, but there should already be money earmarked for Soto,” he said. “Given how much the team has coming off its books this winter, it might even be possible to sign him and not have to subsequently live with a skyrocketed payroll.”

Only Shohei Ohtani has signed a $500-plus million deal. His 10-year contract with the Los Angeles Dodgers is worth $700 million. But thanks to a historic amount of deferrals, the present-day value of Ohtani’s deal is about $460 million. Depending on how Soto’s future contract is structured, a $500 million deal could give him the richest present-day value contract in MLB history.

The Yankees Need to Keep Juan Soto in the Bronx

New York acquired Soto in a blockbuster trade with the San Diego Padres last December. The left-handed slugger has made an impact during his short time in the Bronx.

He’s slashing .309/.436/.593 with 27 home runs, 22 doubles, 77 RBI, 89 runs scored and a league-leading 89 walks in 486 plate appearances. Soto also appeared in the All-Star Game as a starting outfielder alongside teammate Aaron Judge.

They have proved to be a formidable duo at the top of manager Aaron Boone’s lineup. Ahead of August 1 games, they’ve combined for 66 home runs and 176 RBI.

In 2023, the Yankees’ team wRC+ was 94, which was tied for 19th-best in baseball, per FanGraphs. As of August 1, New York’s team wRC+ had improved to 119, which is baseball’s best mark. Judge (212 wRC+) and Soto (189 wRC+) are easily leading the way among qualified Yankee hitters.

Who Is the Yankees’ Main Competition for Soto?

Every MLB team could use a player like Soto in their lineup. However, only a select few are willing and able to afford the outfielder’s anticipated price tag. Rymer mentioned the Texas Rangers, Washington Nationals, Toronto Blue Jays and San Francisco Giants as potential fits for Soto. However, he also said the New York Mets are the biggest threat to the Yankees right now.

A Mets-Yankees bidding war over Soto has been brewing for months. The Mets have their own soon-to-be free agent to deal with in first baseman Pete Alonso. But could president of baseball operations David Stearns get the green light to try to sign both Alonso and Soto this upcoming winter?

“I bet he goes for both,” one league executive who knows Mets owner Steve Cohen (but doesn’t work for the team) told SNY’s Andy Martino in February.

Between the Mets potentially going all-in for Soto and the Yankees being hindered by having to get payroll under control, it should be a fascinating trip to free agency for Soto. It’ll also end up being a lucrative one for the left-handed slugger.

Matt Musico covers Major League Baseball for Heavy.com and has been writing about baseball for the past decade. He’s the creator of MLB Daily Dingers, and his work has been featured on numberFire, MLB Trade Rumors, Bleacher Report, Elite Sports NY, and Yahoo! Sports. More about Matt Musico