The New York Mets made history late Sunday by signing Juan Soto to a record-breaking 15-year, $765 million contract, including a $75 million signing bonus. This deal surpasses Shohei Ohtani’s previous $700 million single-year deal with the Dodgers and Lionel Messi’s $674 million Barcelona contract, marking the largest in sports history. Soto’s annual average value (AAV) of $51 million also sets a new Major League Baseball record.
The contract includes a five-year opt-out clause, offering Soto flexibility to renegotiate or explore free agency in 2029. If Soto remains with the Mets beyond that period and the team seeks to void the contract, his total earnings could rise to $805 million.
A Blockbuster Signing with Rippling Effects
At just 26 years old, Soto’s resume—including a 2024 season with 128 runs scored, 8.1 WAR, and a third-place finish in AL MVP voting—solidifies his status as one of MLB’s premier talents. Billionaire Mets owner Steve Cohen has once again demonstrated his commitment to building a championship team, but this bold move comes with consequences.
To accommodate Soto’s mammoth contract, the Mets have reportedly parted ways with three key players, including All-Star third baseman Jeff McNeil, veteran starter Max Scherzer, and slugger Pete Alonso. All three are expected to be traded or released to free up payroll and address the team’s financial constraints.
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The Financial Landscape
Despite Cohen’s deep pockets, the Mets’ financial position has been challenging. According to Forbes, the team generated $393 million in revenue for 2023 but operated at a $292 million loss. With this latest signing, Cohen is signaling a willingness to absorb even greater losses to bring a championship to Queens, though it may put additional pressure on the Mets to trim costs elsewhere.
How Does This Impact the Mets’ Roster?
With Soto in the fold, the Mets now boast one of MLB’s most dynamic outfields, alongside fellow star Kodai Senga anchoring the pitching staff. However, filling the gaps left by McNeil, Scherzer, and Alonso will be critical to maintaining depth and competitiveness across the roster.
League-Wide Reaction
The Soto signing reverberated across the league, with the Yankees narrowly missing out on Soto after offering him a 16-year, $760 million deal. The Red Sox also made a bid at $700 million, but neither team could match the Mets’ aggressiveness.
As the Winter Meetings officially begin in Dallas, all eyes will be on the Mets and how they navigate the challenges and opportunities created by this historic move. Whether this record-shattering contract leads to sustained success or exacerbates financial strain remains to be seen. One thing is certain: the Mets are fully committed to chasing a World Series title.
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