Juan Soto reportedly signs $765m deal with Mets, richest contract in ...

The deal, spurning the New York Yankees’ attempt to retain the star who helped them reach the World Series, was reached on the eve of the first full day of baseball’s annual winter meetings.

He would have the right to opt out of the contract after the 2029 season if the Mets don’t at that time increase the average annual value by $4 million annually.

Soto will get a $75 million signing bonus, payable upon the deal’s approval by the commissioner’s office.

Soto’s agreement is the largest and longest in Major League Baseball history, topping Shohei Ohtani’s $700 million, 10-year contract with the Los Angeles Dodgers, a deal signed last December.

That agreement included $680 million in deferred payments and is valued at just under $46.1 million annually for baseball’s luxury tax.

Speculation has been rife for weeks about where the 26-year-old free-agent would land, with Mets, Yankees, Los Angeles Dodgers, Boston Red Sox and Toronto Blue Jays among the frontrunners.

Some believed he would stay with the Yankees, who he helped to the World Series last season, but the Mets, led multibillionaire Steve Cohen, the richest owner in baseball, had too much on the table.

The Yankees are understood to have offered Soto $760m over 16 years, but Soto’s representatives had made it clear he would sign with whoever offered him the biggest deal.

Soto, a four-time All-Star, was a rare commodity in Major League Baseball: a superstar reaching free-agency while still in his mid-20s.

By the time his 15-year contract ends he will be in his 40s. While it’s unlikely a player who is already a limited outfielder will be much of a force by then, there is no denying his ability now.

In the 2024 season, he hit a career high 41 home runs and trailed only his Yankees teammate Aaron Judge in on-base percentage across the majors.

Soto has been a star since he made his debut with the Washington Nationals as a 19-year-old in 2018. The Dominican was a major part of the Nats’ World Series title the following year, and has also played for the San Diego Padres and Yankees.

Across his seven seasons in the majors he has batted .285 with 201 homers and 592 RBIs with an OPS of .953, a figure that marks him out as an exceptional talent.

The contract tops the $700m 10-year deal two-way Japanese star Shohei Ohtani signed with the Dodgers last December.

But whereas much of Ohtani’s deal is in deferred money, Soto will earn the full amount while still playing. The deal is also reported to contain an opt-out after five years.

That Soto is stayed in New York is not a surprise: he feels at home in a city with a large Dominican population. 

But his destination represents a shift in the city’s power balance: for years the Mets were the strugglers playing catchup with the Yankees, the most successful team in major league history.

But now with Cohen’s cash, and stars such as Soto and shortstop Francisco Lindor, the Mets appear to be in the ascendant.

Guardian