Getty Steve Cohen's Mets could enter a bidding war with the Yankees for Juan Soto.
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ffseason spending from the New York Mets has been mild this winter compared to previous years under Steve Cohen, the hedge fund titan who bought the team for $2.4 billion in 2020. The Mets could be strategically positioning their roster and payroll to make a run at superstar outfielder Juan Soto, who is set to become a free agent after the 2024 season.
“I think there’s a little bit of treading water happening in New York in terms of the Mets,” The Athletic senior writer Eno Sarris said on a January 8 episode of Foul Territory. “I think they want to maybe keep a spot open for Juan Soto. They want to be available for the really high-end [free agents]. They don’t want to be stuck with these mid-level contracts.”
The Mets did offer a $325 million, 12-year contract to Japanese ace Yoshinobu Yamamoto before he took the same deal to join the Los Angeles Dodgers in December, per the New York Post. Both Yamamoto and Soto are 25 years old. The San Diego Padres traded Soto this offseason to the New York Yankees, who will need to sign the slugging outfielder to an extension to avoid a potential crosstown bidding war in free agency with Cohen’s Mets.
Mets Taking Go Big or Go Home Free Agency Approach
“They were in on Yamamoto, they were cool with $300 million. But they haven’t gone and signed anyone for $60 million,” Sarris said on the Foul Territory show. “So they want to be one [year] and $10 [million], or 10 [years] and $300 [million]. That seems to be the plan going forward.”
Free agents to sign one-year deals with the Mets this offseason include infielder Joey Wendle, starting pitcher Luis Severino, and outfielder Harrison Bader. Their biggest commitment has been a two-year, $28 million deal with given to starting pitcher Sean Manaea with an opt-out after the 2024 season.
The Mets have “about $10 million left to spend” this offseason, SNY’s Andy Martino reported on January 9. Given that budget, it’s probably a stretch to think free agents Justin Turner or JD Martinez could be brought in to upgrade the Mets’ designated hitter spot. The team is instead prioritizing upgrades to its bullpen, with the New York Post reporting earlier this week that left-hander Wandy Peralta has connected with the Mets this offseason.
The Mets are set to have MLB’s largest payroll for the 2024 season, with roughly $40 million being paid to pitchers they’ve already traded: Max Scherzer and Justin Verlander. The Mets will also have to decide how they want to approach a potential contract extension for star first baseman Pete Alonso, who like Soto is set to hit free agency after the 2024 season.
How Much Could Juan Soto Sign For?
In early December, Mets reporter Tim Britton of The Athletic estimated that a 14-year or 15-year contract “isn’t out of the realm of possibility for Soto.” He is slated to hit free agency at age 26 and is repped by agent Scott Boras.
Soto turned down a 15-year, $440 million offer from the Washington Nationals in 2022, which led to Washington trading him to San Diego. Soto won’t match the record-breaking $700 million contract signed by Shohei Ohtani this offseason, but he seems likely to far surpass Mike Trout’s $426.5 million contract that currently stands as the second-largest deal in MLB history.
“A bidding war next winter with other clubs like the Mets and owner Steve Cohen could take Soto’s contract closer to $600 million and beyond,” Max Goodman, a Yankees beat reporter for NJ.com, wrote on December 9.