It was earlier in May that New York Yankees star outfielder Juan Soto seemingly put an end to thoughts that he’d sign a contract extension in-season.
Represented by super-agent Scott Boras, the overriding belief has been that Soto will test MLB free agency next winter. It makes sense given his performance and the market dynamics around baseball right now.
We now have some more surprising information on Soto’s future with the Yankees courtesy of MLB insider Jon Heyman.
He noted on Wednesday that “chances are very good” Soto stays with the Yankees beyond this season. It’s very surprising in that Yankees owner Hal Steinbrenner made waves recently by indicating that they’ll need to trim their payroll moving forward.
“I’m gonna be honest, payrolls at the levels we’re at right now are simply not sustainable for us financially,’’ Steinbrenner said last week. “It wouldn’t be sustainable for the vast majority of ownership [groups], given the luxury tax we have to pay.’’
Related: New York Yankees owner again signals major budget cuts on the horizon
Juan Soto not going to be one-and-done with the New York Yankees?
We’re sure other big-market teams are going to get involved in the Soto sweepstakes this coming winter. It’s also highly unlikely that he’ll sign an extension before the season comes to a conclusion.
Despite the mixed reports of Soto’s future, the Yankees should be in a good position to retain him. He’s likely looking at a total contract value of $500-plus million. Very few organizations around MLB can afford that. In short, Soto’s market will be somewhat limited due to the finances.
- Juan Soto stats (2024): .312 average, 15 HR, 46 RBI, .408 OBS, .989 OPS
In the midst of season that has seen some Yankees stars struggle at the plate, Soto has proven himself as a consistent force.
It’s going to be all about how the market plays out. But don’t be surprised if Soto is in the pinstripes for the long haul.