Yankees

Akshita Patel

REVEALED: WHOPPING Amount New York Yankees Spending On Juan Soto This Year!

In a bid to form an Evil Empire, the New York Yankees pulled off a risky trade with the San Diego Padres, which saw Juan Soto landing in the Bronx. The deal was deemed a gamble because the Bronx Bombers managed to acquire Soto on a one-year rental contract. Soto will become a free agent by the end of the 2024 season.

Nonetheless, the ambitious Yankees’ front office justified the trade move, saying their focus is to win a world championship in 2024. Perhaps a bit too much for a team that crashed out of the playoff race in 2023. Regardless, the team now has Juan Soto, and the outfielder has hit arbitration, which requires the Bombers to pay him for the impending season.

   

Yankees To Pay $30-33 Million To Juan Soto This Year!

Yankees
Brian Cashman, Hal Steinbrenner, Juan Soto

Juan Soto is arguably one of the best hitters in the league. His stature in MLB ranks amongst the highest in the pecking order. At just 25 years of age, Soto has managed to put his contention for the Hall Of Fame someday. Having said that, the Yankees secured the services of the highly sought-after outfielder for the upcoming season. San Diego Padres paid him $24 million last season, wherein he hit a career-best 35 home runs season. However, what troubled the Padres most was Soto’s 2024 season salary. The estimated figure was somewhere around $30 million, which seemed too steep for a franchise in a financial crisis. Thus, San Diego opted to part ways.

Meanwhile, Juan Soto has hit arbitration. That means the Yankees are going to have to pay him for his services for the impending season. Industry rumors suggest that Soto could land somewhere around $30 million, with some also suggesting a figure of $33 million. Anyways, Soto won’t accept a single penny less than the $30 million threshold. Having said that, while Yanks’ current payroll is well below the luxury tax threshold, the future looks bleak. Soto is supposed to enter free agency, wherein his market value is estimated at $500 million. The Yanks are already obliged to pay $40 million to Aaron Judge, $36 million to Gerrit Cole, $32 million to Giancarlo Stanton, and $27 million to Carlos Rodon at least till 2027. Thus, if they intend to sign Soto beyond 2024, they will be required to make space for him.

After Soto, Yanks To Pursue Another Padres Player?

Yankees
The Yankees should make a strong run for Blake Snell, The Post’s Jon Heyman writes. The Yankees should make a strong run for Blake Snell, The Post’s Jon Heyman writes. USA TODAY Sports via Reuters Con

If landing Juan Soto was not enough, the New York Yankees seem active in the pursuit of an ex-Padres pitcher, Blake Snell. The two-time CY Young award winner is a free agent, seeking a $150 million offer this off-season. Meanwhile, the Yanks, desperate to fulfill rotational needs, have expressed an active interest in acquiring the pitcher in a splash deal.

Not only that but as per rumors, Gerrit Cole has given his blessings to the Yankees’ front office to pursue his CY Young counterpart actively. However, the hiked salary is a concern. Snell is not expected to settle for anything less than a $24-30 million AAV. Thus, the Bronx Bombers need to be careful before committing such huge amounts toward an inconsistent starting pitcher.