In recent days, the Yankees have increased their initial offer to superstar free agent outfielder Juan Soto, potentially strengthening their position in the highly competitive race that involves at least five other big-market teams, according to sources familiar with the situation.
The Yankees, while clearly determined to secure their top target, are aware that the bidding process is far from over. The situation remains fluid, and other interested teams still have a chance to land the prized player of the offseason.
Recently, the Yankees held discussions with star free agent pitchers Corbin Burnes and Max Fried, as well as several other top available players. However, their primary focus remains on Soto, and they have not made formal offers to the pitchers, who may serve as part of the Yankees’ Plan B if Soto chooses the Mets, Dodgers, Red Sox, Blue Jays, or potentially another surprise contender.
The bidding for Soto appears to have entered its second round, with at least four teams still in the hunt. Soto, 26, is expected to secure the largest contract in baseball history, with reports suggesting some teams are willing to offer over $600 million. The current record is held by Shohei Ohtani, the Dodgers’ two-way international superstar, who signed a heavily deferred $700 million deal, with a present value around $450 million due to the majority of the money being deferred interest-free.
Soto is believed to be seeking a 15-year deal, which would carry him into his 40s. While a shorter contract with a high annual salary might seem appealing—allowing him to return to free agency in his 20s—reports indicate he is not interested in such a deal, particularly given his expectation for opt-outs in any long-term agreement.
The Yankees have told Soto they are willing to include opt-outs in their proposal, though this is unlikely to give them an edge, as multiple teams are expected to offer the same.
Soto’s meeting with the Yankees last week went “very well” from his perspective, according to those familiar with the situation. While there had been some skepticism about how aggressively the Yankees would pursue him, they have since made their intentions clear.
Team owner Hal Steinbrenner was present at the meeting, expressing strong interest in bringing Soto to The Bronx, where he hit 41 home runs, posted a .989 OPS, and finished third in MVP voting this past season. Soto has met with owners of at least four other teams, all eager to secure his services.
Though the Yankees are often viewed as the favorites due to their status and MLB’s highest revenues, the other teams in the running also have strong appeals.
Mets owner Steve Cohen has made Soto his top priority, which could improve their chances of luring him across town. The Red Sox, Blue Jays, and Dodgers have also shown significant interest.
Boston has tried to pitch Fenway Park as an ideal fit for Soto, and their meeting is said to have been productive. The Red Sox, looking to make a splash in free agency after a few quiet offseasons, are eager to regain their competitive edge.
The well-funded Blue Jays are also extremely motivated to sign Soto.
The Dodgers remain an intriguing wildcard in the bidding. Though they are seen as a long shot due to their already deep roster, some may overlook them following the $182 million deal for Blake Snell. However, with the best roster in baseball and the ability to attract top talent, the Dodgers have not yet ruled themselves out of the race.
