The contract breaks the MLB record for largest deal

DALLAS — Juan Soto made it clear he would sign with the highest bidder when he became a free agent after the New York Yankees lost the World Series.

He was a man who kept his word.

Soto agreed to a stunning 15-year, $765 million contract with the New York Mets on Sunday night, breaking the record for the largest contract in sports history.

The Yankees, Boston Red Sox and Toronto Blue Jays all submitted bids of at least $700 million, but the Mets received the highest bids, just $5 million more than the Yankees’ 16-year, $760 million contract Dollar, a senior Yankees executive told USA TODAY Sports.

Although there was only a $5 million difference overall, the Mets contract’s average annual salary is $51 million compared to the Yankees’ AAV of $47.5 million.

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The deal also includes not a penny of deferred money with a $75 million signing bonus and an opt-out after the fifth year.

If the contract wasn’t already big enough, it could be worth $805 million, a person with direct knowledge of the deal told USA TODAY Sports. The Mets have the right to void Soto’s buyout if they increase his salary from $51 million to $55 million for 10 years starting in 2030.

Soto’s deal is more than $300 million richer than any other contract in baseball history.

Shohei Ohtani signed a 10-year, $700 million contract with the Los Angeles Dodgers last year, but with the $680 million move, today’s value dropped to about $460 million.

And just like that, Mets owner Steve Cohen, the richest owner in baseball, showed his financial power by refusing to be outbid.

That’s why executives told USA TODAY Sports two weeks ago that the Mets were the “clear favorites” to sign Soto, believing Cohen simply wouldn’t lose.

While Soto was informing the Mets that he was joining them, the Washington Nationals front office was having dinner at the Anatole Hotel and remembered that they had offered Soto a 15-year, $440 million deferred contract two and a half years ago .

Soto’s offer rejection turned out to be the best financial investment since Tesla and perhaps the Nats’ wisest decision to trade him to San Diego in July 2022 despite knowing they couldn’t afford to sign him to a contract extension .

While there was always talk of Soto seeking a $500 million contract and perhaps even a $600 million prospect once Ohtani signed, no one could have imagined he would reach $700 million with four teams left were on offer and the Mets added $30 million to their last offer on Sunday.

Then again, who would have ever thought that the Mets would pay Soto more than double the money that MVP Aaron Judge received from the Yankees in his nine-year, $360 million contract two years ago?

The question now is how do the losing teams in the Soto Sweepstakes recover? The Yankees are now expected to make a serious push for free agent first baseman Christian Walker, make a run at third baseman Alex Bregman and potentially trade for Chicago Cubs outfielder/first baseman Cody Bellinger. The Red Sox are trying to sign either starter Max Fried or Corbin Burnes, who is being pursued by the San Francisco Giants. The Red Sox want at least Fried or Burnes and could trade for Nolan Arenado from the St. Louis Cardinals. And the Blue Jays hope to sign slugger Anthony Santander or Teoscar Hernandez.

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The contract breaks the MLB record for largest deal

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