• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

Juan Soto Sweepstakes Underway: Superstar’s Deal Could Reshape MLB

The MLB superstar is set to gain the second-largest contract in U.S. pro sports history.

Kirby Lee-Imagn Images

The Juan Soto free-agency derby is officially underway, and his decision is set to have major ramifications across the sport. 

Soto’s impending free agency has been highly anticipated all year, becoming a major storyline during both the All-Star Game and the World Series. The moment has now arrived, and the 26-year-old Soto began receiving calls from nearly a dozen teams within hours of the Dodgers completing a five-game World Series win over Soto’s Yankees. 

With a deal almost certain to exceed $600 million, Soto is now in line to reap the second-largest player contract in U.S. pro team sports history, trailing only the 10-year, $700 million agreement between the Dodgers and Shohei Ohtani. Depending on the level of deferrals involved, Soto could smash Ohtani’s contract in present-day value. 

Soto, like all other MLB free-agent players, will be eligible to sign with a new team beginning Monday at 5 p.m. ET. 

“I’m going to be available for all 30 teams,” Soto said after the Dodgers clinched their World Series win. “I don’t want to say anybody has any advantage because at the end of the day, we’re going to look at what they have and how much they want me.”

Soto is represented by baseball mega-agent Scott Boras, long known for working with many of baseball’s biggest stars and commanding top-dollar deals. But Soto’s youth—he just turned 26—and his Hall of Fame-caliber trajectory on the field make him a particularly unique free agent, even among other stars to hit the market recently such as Ohtani. 

Limited Suitors

Despite Soto’s comments, and the fact that several teams have conveyed their initial interest, only a select few actually have the financial ability to take on a contract of this size. That group includes the Dodgers, Yankees, and Mets, and perhaps a few others such as the Phillies, Cubs, and Blue Jays.

All of these clubs have ownership stakes in their regional sports networks and have been comparatively insulated from the ongoing turbulence in that part of the television industry. None of those teams are connected to the Diamond Sports Group bankruptcy, either. 

Ripple Effect?

Soto has frequently spoken well of his one year in pinstripes, a season that brought the Yankees their first World Series berth in 15 years. But some of that consideration could rest on what the team does with ace pitcher Gerrit Cole, who opted out of the final four seasons and $144 million on his existing contract with New York.

The Yankees can eliminate that opt-out by adding on a fifth year and $36 million to Cole’s deal by Monday at 5 p.m., when full free agency opens. Keeping Cole, last year’s American League Cy Young Award winner, would help convey a continued commitment to winning, something Soto has said is important to him. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Oct 30, 2024; New York, New York, USA; New York Yankees pitcher Gerrit Cole (45) reacts after a play during the fifth inning against the Los Angeles Dodgers in game five of the 2024 MLB World Series at Yankee Stadium.

Gerrit Cole Reverses Opt Out, Stays With Yankees. What’s Next?

Discussions will now start on a potential contract extension to finish his career in New York.

New Era, New Chaos? New CFP Team Rankings Explained

The new College Football Playoff system’s complexities might confuse some college football fans.

Super Bowl Ads Sell Out Three Months Early, at Record Price

Ad units are believed to be selling at more than $7 million per 30 seconds.

Sports Drive Fox Corp.’s Revenue Despite Election Ad Overload

The Fox Sports parent posted increases in revenue and earnings.
podcast thumbnail mobile
Front Office Sports Today

Surprising Start to MLB’s Offseason

0:00

Featured Today

Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Donald Trump holding a basketball in the White House
October 30, 2024

Mavericks Owner’s $100 Million Trump Donation Dwarfs All Other Sports Owner Political Giving

Dr. Miriam Adelson is one of the most powerful donors in U.S. politics.

Saints Fire Dennis Allen: NFL’s Coaching Carousel Spins Early

The now-former Saints coach was in the third season of a four-year contract.
Oct 18, 2024; Minneapolis, Minnesota, USA; Minnesota Lynx forward Napheesa Collier (24) works around New York Liberty forward Breanna Stewart (30) during the first half of game four of the 2024 WNBA Finals at Target Center.
October 31, 2024

Unrivaled Expands While Keeping Seat Warm for Caitlin Clark

The women’s basketball league is adding six roster spots to bring the total to 36.
October 31, 2024

Everyone Wants In on the WNBA Expansion Gold Rush

There are 10 to 12 cities interested in a WNBA expansion team.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
Oct 31, 2024; New York, New York, USA; Los Angeles Dodgers president and CEO Stan Kasten celebrates with the Commissioner’s Trophy after the Los Angeles Dodgers beat the New York Yankees in game four to win the 2024 MLB World Series at Yankee Stadium.
October 31, 2024

Dodgers Winning Formula Blends Underdog Spirit With Big Dollars

Team officials point to an “opportunistic” mindset as it overcame numerous injuries and setbacks.
Philadelphia Eagles quarterback Jalen Hurts (1) reacts to scoring a touchdown with Philadelphia Eagles running back Saquon Barkley (26) in the fourth quarter of the NFL game against the Cincinnati Bengals at Paycor Stadium in Cincinnati on Sunday, Oct. 27, 2024.
October 31, 2024

Here’s Every NFL Team Linked to Private Equity Investments

The NFL gave the O.K. in August for PE firms to buy up to 10% of a franchise.
October 30, 2024

Money Well Spent: Dodgers Top Yankees in World Series

The financially robust MLB club wins its first full-season league championship since 1988.
Nick Dunlap of Tuscaloosa, Ala., tees off on the 18th during the third round of the Sanderson Farms Championship at the Country Club of Jackson in Jackson, Miss., Saturday, Oct. 5, 2024.
October 30, 2024

PGA Tour Could Get More Exclusive Under Proposed Rule Changes

This is the latest move to consolidate more prize money and rankings points.