Getty Juan Soto during a May 22 game against the Seattle Mariners.
For as good as the New York Yankees are playing, and they have the best record in the American League, Juan Soto‘s free agency will be a driving narrative all 2024.
Of course, it doesn’t help that he’s happy to add fuel to the fire.
Prior to a May 24 game against the San Diego Padres, Soto was asked if he would consider returning to his most recent MLB home.
“We gonna be open to listen to anybody and everybody,” Soto told reporters pregame. “We ain’t closing any doors. Whoever wants to talk about deals and stuff, I’m open to deal with anybody.”
But, for as much weight as that statement carries the Yankees’ star made sure to reassure fans he’s focused on this season.
“But that’s going to be in the future,” Soto continued. “We’re gonna see if we make it to the future. Right now I’m focusing on 2024. I’m apart of the Yankees, and I’m a Yankee right now throughout 2024. And my goals are really clear, to win a championship here.”
Soto is slashing .312/.409/.563 with a .972 OPS. He’s up to 13 home runs and 41 RBIs through 52 games in New York.
It’s equally likely his comments are directed at Yankees’ ownership.
Steinbrenner Shoots Down $300M Payroll
Hal Steinbrenner, a managing general partner in New York, made some recent comments that could concern fans hoping to see Soto play out his MLB career in pinstripes.
“I’m gonna be honest, payrolls at the levels we’re at right now are simply not sustainable for us financially,” Steinbrenner told Dan Martin of the New York Post on May 22. “It wouldn’t be sustainable for the vast majority of ownership, given the luxury tax we have to pay.”
Steinbrenner continued, adding in that “I don’t believe I should have a $300 million payroll to win a championship.”
The Yankees’ payroll is already sitting at $202-million in committed salary. And if anything, Steinbrenner isn’t ready to see that number increase by any significant amount.
San Diego, on the other hand, sits in the middle of the league for 2024 payroll, at $162-million, per Spotrac.
That all spells trouble for Soto’s chances at staying in New York.
The projections for his next contract range from over $500 to $700 million.
Projecting Soto’s Next Contract
There’s been varying projections on Soto’s next deal, since he became extension eligible
In a March 4 article for The Athletic, Tim Britton projected that Soto will earn a 14-year, $540 million extension.
Eli Ben-Porat of Baseball America predicted the Yankees will extend him to a 5-year, $701 million deal in an article on March 8.
“It would be a rather shocking outcome if the Yankees were to let a 25-year-old future hall of famer walk away in free agency,” Ben-Porat wrote. “Does this really count as a bold prediction, projecting Juan Soto will get the biggest contract in history? Perhaps not, if you assume the Yankees do whatever it takes to keep him.”
Ken Rosenthal thinks that $500-million may be the baseline for any Soto negotiations.
“Never mind that perhaps only a handful of clubs, most notably the crosstown rival Mets, might be willing to give Soto the $500 million plus he surely desires,” Rosenthal wrote on May 17. “If the Yankees offer him that amount tomorrow, Boras will merely consider it a baseline, and go from there.”
None of the above numbers fit Steinbrenner’s ideal payroll. And it’s worth noting that Soto turned down a 15-year, $440-million offer from the Washington Nationals in 2022.
The only certainty is that Soto will be paid, and it will be for a number he feels comfortable with. Whether that’s in the Bronx or elsewhere.