The tender for superstar outfielder Juan Soto has passed the $600 million mark.

According to a report from Ken Rosenthal, Evan Drellich and Brendan Kuty of The Athletic on Tuesday, this is the new floor for Soto in free agency.

This is not an estimate or prediction that Soto’s contract will exceed the $600 million threshold. The Athletic reports that all remaining contenders in the Soto sweepstakes — the Yankees, Mets, Red Sox, Blue Jays and Dodgers are the five publicly known suitors for Soto — have made legitimate contract offers in excess of $600 million.

With the winter meetings approaching this month and offers already reaching this point, it’s time to prepare for a decision from Soto. In fact, Soto’s agent Scott Boras, speaking to reporters during Blake Snell’s opening press conference at Dodgers Stadium on Tuesday, said Soto has begun narrowing his options.

“When you go through these things, he just has a lot of information to process,” Boras said. “We had meetings with a number of franchises. He started eliminating teams and doing things. Juan is a very methodical thinker, so we’ll see, but I don’t think anything is imminent in the near future.”

Another takeaway from this new phase of the Soto sweepstakes is that by signing this massive contract, the generational outfielder is on track to set a new record for today’s value.

Shohei Ohtani’s $700 million deal with the Dodgers last winter is valued at $460 million because of his deferrals. Since Soto is only 26 years old, teams can offer the phenom a longer contract of at least a decade. It also doesn’t hurt that the outfielder is one of the best hitters in baseball, a high-swinging left-hander who is coming off a career year in pinstripes.

The Yankees and Mets have long been considered favorites in this sweepstakes because of their owners, their payrolls and their direct path to contention. Don’t sleep on the Red Sox, though. As Rosenthal put it Tuesday, Boston “has emerged as a surprising force in the negotiations.” The pressure on each of these teams – even Toronto and Los Angeles, which are the bottom teams in the process – is on as the final phase of negotiations begins.