Juan Soto agrees to record $765 million, 15-year contract with NY Mets
Global News
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.
Star outfielder Juan Soto and the New York Mets agreed Sunday to a record $765 million, 15-year contract, a person familiar with the deal told The Associated Press, a deal that could escalate to $805 million and is believed to be the largest pact in team sports history.
The person spoke on condition of anonymity because the agreement, first reported by the New York Post, was subject to a successful physical.
While there are no definitive records in sports beyond the United States, Soto’s deal is thought to eclipse those in all other team sports. 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.
Soto’s agreement does not include deferred money, the person said, leaving its average annual value at $51 million. Its length tops Fernando Tatis Jr.’s $340 million, 14-year contract with San Diego that runs through 2034.
The Yankees’ final offer to Soto was for $760 million over 16 years, a second person familiar with the talks said, also on condition of anonymity because that detail was not announced. That offer had a $47.5 million average annual value.
A four-time All-Star at age 26, Soto is the most accomplished free agent at that age since shortstop Alex Rodriguez agreed to a record $252 million, 10-year contract with Texas in December 2000 at age 25.
