While the New York Yankees trade for All-Star outfielder Juan Soto has received a great deal of praise, making it a benefit beyond this season got a whole lot harder after the announcement of Shohei Ohtani’s new contract.
Late last week, the Yankees made the first big splash of the offseason when they were able to finalize a long-rumored blockbuster trade for San Diego Padres outfielder Juan Soto. The team has been pursuing the young star since the season ended and was able to beat out four other organizations that made offers for him.
Soto fills several needs the team had heading into 2024 and gives them one of the better lineups in the American League. However, the 25-year-old could be one and done in New York since he intends to test his value on the free agent market this time next year.
While the organization plans to do all it can to bring him back on a new long-term contract, that got exceedingly tougher this weekend. On Saturday, the Los Angeles Dodgers gave two-way superstar Shohei Ohtani a record-shattering 10-year, $700 million contract. The deal is the largest in North American sports history and will set a new standard for contracts going forward.
- Juan Soto stats (2023): .275 AVG, .410 OBP, .519 SLG, 35 HR, 109 RBI, 97 R
Shohei Ohtani contract means big trouble for New York Yankees in 2024
That is bad news for the Yankees and their goal to re-sign Juan Soto. The three-time All-Star is represented by Scott Boras, he has been pushing hard for his client to test his value on the open market and advised him to turn down a massive $440 million offer from the Washington Nationals last year.
Soto was already projected to land a deal for as much as $500 million but that may have increased due to Ohtani’s new pact. Predicting what the Yankees will have to fork over to keep him is difficult, but the players that are the most comparable are probably Bryce Harper and Manny Machado.
Related: New York Yankees targeting specific pitchers following Juan Soto trade
Both were young stars just entering their prime when they signed their first big MLB contracts. The Phillies gave Harper a 13-year, $330 million contract in 2019, while the San Diego Padres handed Machado a 10-year, $300 million deal the same year. Then gave the former Orioles star a new 11-year, $350 million deal earlier this year.
While Soto doesn’t have an MVP on his resume he does have a World Series title and has been, arguably, more consistent a hitter than Harper and Machado over his first six seasons as he grows into one of the best young hitters in the sport. It isn’t impossible that he lands a deal that is close to $600 million next year.
The New York Yankees entered this offseason with the goal of not expanding their payroll to a point where they surpass another tax threshold. And it took them some time to finally agree to the massive $360 million deal they gave 2022 AL MVP Aaron Judge last season. Will they be willing to add a nearly $600 million investment next year?
If the Yankees win the World Series, that could change their thinking on a deal, however, if they don’t and they hesitate to give Soto what he is looking for, they very well may have given up two top pitching prospects for a one-year rental.
