The Yankees failed in their bid for Juan Soto and offered the superstar outfielder an extra year, but watched as he settled for the higher average annual value presented by the Mets.

Owner Hal Steinbrenner, general manager Brian Cashman and the Yankees offered Soto $760 million over 16 years, according to Jon Heyman of The Post, but he ended up signing with the Mets for 15 years and $765 million — the largest contract in the history of professional sports.

It was more than double the nine-year, $360 contract the Yankees gave Aaron Judge as a free agent two years ago and reflected Steinbrenner’s determination to keep Soto in the Bronx, forming a team with Judge at the top their ranking.

Soto, who turned 26 in late October, posted a .288 OPS with a .989 OPS in his only year with the Yankees, helping them to a trip to the World Series that ultimately fell to the Dodgers.

This began his sweepstakes, which also included the Yankees, Mets, Dodgers, Red Sox and Blue Jays.

And with the winter meetings set to begin Monday, Soto made his decision.

However, the Yankees were reminded of how much work they have to do in transitioning to Plan B.