Juan Soto contract breakdown: Mets' $765M deal has opt-out clause that could raise price, signing bonus, more
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Report: Mets Sign Juan Soto to Record $765M Deal
Above: Juan Soto in action during Game Five of the 2024 World Series on Oct. 30, 2024, in New York City. Image copyright: Jim McIsaac/Contributor/Getty Images Sport via Getty Images
The Facts
Major League Baseball (MLB) outfielder Juan Soto and the New York Mets have agreed to a record-breaking 15-year, $765M contract, marking the largest deal in professional sports history and surpassing Shohei Ohtani's previous record $700M contract with the Dodgers.
First reported by the New York Post, the contract includes a $75M signing bonus and specifies that no money will be deferred, resulting in a $51M average annual value — a record for a player salary.
The Spin
Narrative A
Steve Cohen is transforming the Mets into a powerhouse and bringing leverage back to a team that has been historically smaller. His personal $21.3B fortune facilitates record-breaking deals, outpacing even the league's richest team — the Yankees. Applying Cohen's hedge fund tactics, the team is retaining core talent, trading aging stars for elite prospects, and revamping the farm system, ensuring long-term competitiveness and a bright future for the Mets.
Narrative B
Juan Soto’s $765M deal with the Mets highlights MLB's salary cap issue. While Soto benefits, the league faces unsustainable contracts that could cheapen the sport. Teams like the Mets exploit the absence of cost ceilings, driving salaries toward $1B. These deals often age poorly, as seen with Mike Trout or Manny Machado. Without a cap, parity fades, and MLB risks losing its "anything can happen" playoff magic.