Yankees' top offseason task is re-signing Juan Soto. Here's what they're up against.
NEW YORK -- It's bad enough the New York Yankees just suffered about as frustrating a World Series loss as any in recent memory, now they have to worry about whether or not arguably their best all-around player will depart during the offseason.
Juan Soto is officially a free agent, and judging by his amazing 2024 season, he will have several suitors that will be prepared to throw what could amount to a record contract in his direction.
"I'm really happy with the city, with the team, but at the end of the day we will see," Soto said after Wednesday's Game 5 loss to the Los Angeles Dodgers. "We're going to look at every situation, every offer that we get. I don't know what teams want to come after me, but definitely I'll be open to listen to every single team. I don't have any doors closed or anything like that, so we're going to be available for all 30 teams."
The Yankees, of course, will be one of the interested teams, but Soto, despite how much he says he loves New York, will almost certainly take his time and explore every possible scenario. The 26-year-old outfielder, a generational talent by any metric, is known for being deliberate when it comes to where he plays. Back in mid-2022, he turned down a 15-year, $440 million contract to remain with the Washington Nationals.
Eventually he was traded to the San Diego Padres, who got one season out of him before shipping him to the Yankees last offseason. He then was awarded a record $31 million, one-year deal in arbitration.
Needless to say, Soto will be the prize of the offseason. So, buckle up, Yankees fans, this is going to be a process and likely a stressful one at that.
Juan Soto was worth every dollar to the Yankees in 2024
Soto lived up to the hype in New York and then some, and he did it under the biggest spotlight imaginable. Though the Yankees lost the World Series, Soto played extremely well in the regular season and through the Bombers' postseason run.
The slugging right-fielder hit .288 with a career-high 41 home runs and 109 RBIs in 157 games during the regular season. He also posted a stellar .419 on-base percentage, second only in MLB to teammate Aaron Judge's remarkable .458.
In the playoffs, Soto got on base to the tune of a .469 OBP, to go along with his .327 average, four homers and nine RBIs in 14 games.
Though Judge is expected to win his second AL MVP Award, expect Soto to get plenty of love from the voters.
Prior to Game 5, Yankees manager Aaron Boone made it crystal clear what he wants to see happen going forward.
"I hope he's here forever," Boone said of Soto. "I also know I'm excited for him and what the next few months are for him. But from my perspective, I couldn't have asked for better."
What kind of a contract could Juan Soto command?
In short, considering Dodgers superstar Shohei Ohtani signed a 10-year, $700 million deal prior to the 2024 season, one can expect Soto's next contract to be in that vicinity, both in dollars and years. Ohtani's contract is unique in that $680 million of it is deferred for a decade, making it much easier for Los Angeles to stay competitive.
Could the Yankees do something similar? Perhaps. But they have a bit of a problem in that they already pay Judge $40 million per season. Even though Judge has proven to be a tremendous teammate and selfless to a fault, he is arguably the best player in baseball, right there with Ohtani. He's also the Yankees' captain, an honor that speaks for itself in terms of prestige and respect.
Judge said all the right things about the Soto situation on Wednesday.
"It would be great to keep playing with him because he's definitely a special player," Judge told reporters. "I think everybody in this room wants him back. ... He just does a lot of the little things that people don't notice that truly make him one of the best players, if not the best player in the game."
Still, it's fair to say that paying Soto more annually could be considered by some an insult to Judge. However, let's not forget that Judge is six years older, and since the Yankees haven't won a championship in going on 16 years, the pressure will be on the front office and ownership to ante up for a player who could be a cornerstone of the franchise well after Judge is no longer playing at a high level.
As for which teams will be interested in Soto, his expected price tag is sure to scare off many, but big spenders like the Dodgers, New York Mets, the sometimes-aggressive Toronto Blue Jays, and possibly the Philadelphia Phillies could find themselves right in the thick of the sweepstakes.