Yankees Juan Soto
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Juan Soto has been a great addition to the mix for the New York Yankees. They needed someone like him after what happened last year. In 2023, the Bronx Bombers had one of the worst seasons in their franchise history. They had failed to make the postseason last year for the first time since 2016. Moreover, the NY side had a terrible 82-80 record. As a result, it was their worst season in the last 30 years. On top of that, they also had the second-worst batting average in the league behind the nine-time champions, the Oakland Athletics. 

   

Moreover, there were so many injuries to key players like Aaron Judge, Anthony Rizzo, and Jasson Dominguez that really messed up their season. That’s when the front office realized the need to make significant changes in the offseason. And their biggest change was of course going all in for Juan Soto. Since the start of the 2024 regular season, the Dominican slugger has been the most impactful player for the Bronx Bombers. However, the Yankees only have him for a year. He will be a free agent next offseason. 

How Much Shall The Yankees Pay To Retain Juan Soto?

Juan Soto, Yankees
Juan Soto flip his bat after belting a solo homer in the sixth inning of the Yankees’ loss. AP

Clearly, it was a risk for the NY side to sign the best hitter in baseball just one year before he hits free agency. But they took the risk because they have been looking for redemption this year. However, the question remains how much the Yankees shall pay to keep the three-time All-Star on their roster. Moreover, the Dominican superstar shall become the biggest free agent next offseason. As per the recent projections by experts, he should sign a deal close to Shohei Ohtani’s $700 million contract. So far, in 2024, Juan Soto has been putting up big numbers as the Yankees don’t have another hitter with better numbers. To be precise, the only Yankee slugger who’s hitting above .300 is Soto so far in 2024. He is hitting .316 with eight home runs and has 28 RBIs. 

Already in the first month of the season, Juan Soto has earned 26 walks. He has an uncanny eye for making contact. Clearly, the Yankees would regret if they have to let him go next offseason. However, it is quite certain that they won’t be able to sign him for a deal close to $700 million. But the Bronx Bombers can make significant investments to keep the Dominican superstar for a long term deal. According to the New York Post, Juan Soto can sign the largest contract in history that would double the contract of Alex Rodriguez, which the Yankee legend received back in 2000. It was a contract worth $252 million in 2000, a record deal in American sports history. As per Spotrac, Juan Soto’s market value might be a 10-year deal worth $550 million. 

Teams Like Nationals And Mets Might Be Tough Competitors For The Pinstripes To Keep The Dominican Superstar

Juan Soto, Pete Alonso
GettyImages

There are a lot of variables that the NY side must take into account. Most importantly, the Yankees will have to pay a lot of money to Aaron Judge, Gerrit Cole, Giancarlo Stanton, and Carlos Rodon as a commitment. However, when other teams get into the market to sign Juan Soto, the Dominican market value will increase significantly. He will be 26 next offseason. At that stage, he will be at the peak of his earning potential. 

There have been rumors that the NY Mets are hot favorites to bid for Soto. They plan to build the lineup with potentially the most formidable hitting duo: Pete Alonso and the four-time Silver Slugger winner, currently playing for their city rivals. But what about the Washington Nationals, Soto’s former team? Would he like to go back to where his journey began in the league? Currently, the Nationals have many young stars who can fit well alongside Soto.

Stay tuned to Sports News International for more such updates about your favorite MLB team.