Juan Soto Signs Richest Sports Deal with Mets

Superstar outfielder Juan Soto and the New York Mets agree on a 15-year, $765 million contract. The deal is the richest deal in professional sports history. The deal includes an opt-out after five years and no deferred money. If Soto chooses not to opt out, his deal will go up $4 million per year — from $51 million to $55 million — for the remainder of the contract, meaning the total value could exceed $800 million. The contract also includes a $75 million signing bonus. The 26-year-old Soto, whose prodigious power, discerning eye and postseason bona fides created a free agent frenzy. Following a standout season with the New York Yankees in which he guided the team to the World Series. Juan Soto also finished third in the American League MVP voting. Juan Soto drew significant interest in the free agent market.

The Mets, Yankees, Toronto Blue Jays, Boston Red Sox and Los Angeles Dodgers were among the final bidders. There were teams with a lower payroll like the Royals and Rays exploring signing Soto. The Yankees fielded a competitive offer — a 16-year, $760 million deal with an annual average value of $47.5 million and no deferrals. The $765 million guarantee exceeds the $700 million the Dodgers gave two-way star Shohei Ohtani on a 10-year deal last winter. While 97% of Ohtani’s salary will be deferred for 10 years, Soto’s deal contains no deferred money, lifting the net present value of his deal well above Ohtani’s.

 

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