Juan Soto, one of MLB’s top free agents this offseason, is expected to make a decision about his next team around the time of the winter meetings, which begin on December 9, 2024.
The New York Yankees are considered a strong contender to re-sign him after his stellar performance in 2024, which included 41 home runs and a .989 OPS, helping the team reach the World Series.
However, Soto is reportedly weighing offers from several teams, including the Mets, Red Sox, Dodgers, and Blue Jays.
The Yankees are reportedly willing to make a significant financial commitment to retain Soto, but owner Hal Steinbrenner acknowledged that their current $238 million payroll limits long-term sustainability.
The Yankees have not disclosed the details of their conversations with Soto but emphasized his importance to the team and their willingness to explore all options to keep him in New York.
If Soto leaves, the Yankees have hinted at contingency plans but have not revealed specific details. His free agency could potentially set records, with contract values speculated to exceed $600 million.
The Yankees’ focus isn’t just on the competition from their crosstown rivals, the Mets, but increasingly on the Boston Red Sox, who are making a strong push for Soto.
With the Winter Meetings set to begin on December 9 in Dallas, Yankees general manager Brian Cashman has made it clear that the team will explore all options to strengthen the roster in 2025.
If Soto ultimately signs elsewhere, the Yankees will have to adjust their strategy.
Financially, the team is likely prepared to offer Soto a contract that could exceed Aaron Judge’s $40 million per year, but Hal Steinbrenner has expressed concerns about exceeding the luxury tax threshold.
Even without Soto, the team’s payroll is projected to surpass $224 million.
