Yankees, Juan Soto agree to historic deal for 2024 season ahead of free agency: reports

If Juan Soto wants to break Shohei Ohtani's record for the largest contract in sports, he's off to a good start.

Ohtani inked a $700 million deal with the Los Angeles Dodgers last month, but in his final year of arbitration, he made $30 million.

However, Soto and his new squad, the New York Yankees, avoided arbitration by agreeing on a reported $31 million salary. That is now the most money ever given to a player that was arbitration-eligible.

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Juan Soto of the San Diego Padres grimaces after hitting a fly ball in the first inning against the Baltimore Orioles on August 15, 2023, at Petco Park in San Diego. (Denis Poroy/Getty Images)

Several years ago, many thought that Soto would be the first player in MLB history to sign a deal worth at least $500 million, but Ohtani lived up to his billing as the Japanese Babe Ruth, won two MVPs in three years, and took that title.

However, Soto is slated to be a free agent at season's end at the ripe age of 26. So, it's very possible he could join Ohtani in the $500 million club (or more).

And with his age, he very well could sign the longest deal ever. That title currently belongs to Fernando Tatis Jr. with his 14-year pact he signed before the 2021 season, worth $340 million.

The Yankees acquired Soto from the San Diego Padres, who seem to be in the midst of major salary dumps following the death of owner Peter Seidler. They also have Manny Machado and Xander Bogaerts signed to deals worth $350 million and $280 million, respectively.

Juan Soto flips his bat after a home run.

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The Bronx Bombers had their worst season in a generation in 2023. Their 82 wins were their lowest since 1993, and it was the first time since 2016 they missed the postseason. Their .227 batting average was the second-worst mark in all of baseball, and they scored the sixth-least runs in the league.

But Soto is going to provide a huge boost.

Soto had a down 2022 but showed his talent this past season by hitting .275 with 35 homers, 109 RBI and a .930 OPS. He led the majors in walks last season (132) for the third time in his career. While that still isn't his best work, his career numbers show that it should surprise nobody if he's even better.

Juan Soto of the San Diego Padres hits a home run in the fifth inning against the New York Yankees at Yankee Stadium on May 26, 2023. (Matt Thomas/San Diego Padres/Getty Images)

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A three-time All-Star, the outfielder has a .946 OPS while hitting .284 in his career. He's the active career leader in on-base percentage (.421), and he has four top-10 MVP finishes – he finished sixth this past season.

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