Star outfielder Juan Soto and the New York Mets agreed Sunday to a record $765 million, 15-year contract, a person familiar with the matter told The Associated Press, a deal that could reach $805 million and is considered the greatest deal in team sports history.
The person spoke on condition of anonymity because the agreement, first reported by the New York Postunderwent a successful medical examination.
Although no definitive record exists in sports outside the United States, Soto’s deal would eclipse that of all other team sports. The deal, rejecting 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 do not increase the average annual value by $4 million per year at that time. Soto will receive a $75 million signing bonus, payable after the deal is approved by the commissioner’s office.
Soto’s deal is the largest and longest in Major League Baseball history, surpassing Shohei Ohtani’s 10-year, $700 million contract with the Los Angeles Dodgers, a deal signed in December last. That deal included $680 million in deferred payments and is valued at just under $46.1 million per year for baseball’s luxury tax.
Soto’s deal does not include deferred money, the person said, leaving his average annual value at $51 million. Its term exceeds Fernando Tatis Jr.’s 14-year, $340 million contract with San Diego through 2034.
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The Yankees’ final offer to Soto was $760 million over 16 years, said a second person familiar with the talks, also speaking on condition of anonymity because that detail has not been announced. This offering had an average annual value of $47.5 million.
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 25 years old.
Soto was 19 when he made his major league debut with Washington in 2018 and helped the Nationals win the World Series the following year, when he hit .282 with 34 homers and 110 RBIs.
He turned down Washington’s 15-year, $440 million offer in 2022 and was traded in August to San Diego. After the death of Padres owner Peter Seidler, Soto was traded to the Yankees in December 2023 and helped New York reach the World Series for the first time since 2009.
Soto hit .288 with 41 home runs, 109 RBIs and 129 walks, finishing second in the batting order to Aaron Judge to power an offense that led the major leagues with 237 home runs. He hit a go-ahead homer in Game 1 of the AL Championship Series against Cleveland and a game-clinching three-run homer in the 10th inning that won the pennant against the Guardians in Game 5.
Soto has a .285 batting average with 201 home runs, 592 RBIs and 769 walks over seven major league seasons.
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