DALLAS (AP) — Star outfielder Juan Soto and the New York Mets agreed Sunday to a record $765 million, 15-year contract, a person familiar with the deal told The Associated Press. This is the largest agreement in team sports history.
The person spoke on condition of anonymity because the agreement, first reported by the New York Post, required a medical exam.
Although there is no definitive record in sports outside of the United States, Soto’s contract is believed to eclipse records in all other team sports. The deal was reached on the eve of the first full day of baseball’s annual winter meetings, thwarting attempts by the New York Yankees to retain the star who helped them reach the World Series.
He would have the right to terminate his contract after the 2029 season if the Mets do not increase his average annual salary by $4 million per year at that point. Soto will receive a $75 million signing bonus, which will be paid after the contract is approved by the commissioner’s office.
Soto’s contract is the largest and longest in major league history, surpassing Shohei Ohtani’s $700 million, 10-year contract with the Los Angeles Dodgers last December. The agreement includes a $680 million deferred payment, amounting to just under $46.1 million a year in baseball’s luxury tax.
Soto’s contract does not include any deferred payments, and his average annual value remains at $51 million, the person said. That length exceeds Fernando Tatis Jr.’s $340 million, 14-year contract with San Diego through 2034.
The final offer the Yankees made to Soto was $760 million over 2016, said another person familiar with the negotiations, who also requested anonymity because the details have not been made public. The average annual value of this offer was $47.5 million.
Soto, a 26-year-old four-time All-Star, is the first shortstop at that age since shortstop Alex Rodriguez agreed to a record $252 million, 10-year contract with the Texans in December 2000 at age 25. He became the most accomplished free agent.
Soto was 19 years old when he made his major league debut with Washington in 2018 and helped the Nationals win the World Series the following year with a batting average of .282, 34 home runs and 110 RBIs.
He turned down Washington’s 15-year offer of $440 million in 2022 and was traded to San Diego in August of that year. Following the death of Padres owner Peter Seidler, Soto was traded to the Yankees in December 2023 and helped New York reach the World Series for the first time since 2009.
Soto had a batting average of .288, 41 home runs, 109 RBIs, and 129 walks, ranking second in the batting order behind Aaron Judge, and displayed the top offensive power in the major leagues with 237 home runs. He hit the game-winning home run in the American League Championship Series opener against Cleveland, hit a game-tying three-run home run in the 10th inning, and clinched the pennant in Game 5 against the Guardians.
Soto has a batting average of .285 with 201 home runs, 592 RBIs and 769 walks in seven major league seasons.
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