Following the New York Yankees’ victory over the Cleveland Guardians in the American League Championship Series on October 19, fans in Cleveland began chanting, “Re-sign Soto.” This enthusiastic call for the Yankees to retain right fielder Juan Soto, who has received strong support from spectators at Yankee Stadium for several months, gained momentum after Soto hit a crucial home run in the 10th inning of Game 5, helping the Yankees secure a 5-2 win.
Soto’s three-run homer propelled the Yankees to the World Series, where they will compete against the Los Angeles Dodgers. As Soto approaches his 26th birthday on October 25, the same day as Game 1 of the World Series, he has emerged as a key contributor for the Yankees in the postseason, boasting a .333 batting average along with three home runs and eight RBIs.
Unlike notable Yankees players such as Aaron Judge, who signed a significant nine-year, $360 million contract in 2022, Soto is currently under a one-year contract that is set to expire after the World Series, making him a free agent afterward.
Soto does not have a contract for the 2025 season. Prior to joining the Yankees, he played with the San Diego Padres and the Washington Nationals. His 2024 contract with the Yankees is valued at a record-setting $31 million. This salary for Soto surpasses the previous record set by Shohei Ohtani, who secured a $30 million salary in 2022 with the Los Angeles Angels before signing with the Dodgers in 2023.
Sports analysts estimate Soto’s potential long-term contract could range from at least $500 million, according to Front Office Sports, with some sources indicating it might be between $520 million and $540 million. The Athletic has even suggested it could approach $600 million.
As for his next destination, it remains uncertain. Soto previously stated he would be open to discussions about a long-term deal if the Yankees reached out to his agent, Scott Boras. Yankees owner Hal Steinbrenner had also expressed interest in retaining Soto for the long haul, although he acknowledged that such negotiations are typically not pursued during the season.
While Yankees fans are eager for Soto to remain in New York, there is speculation that the New York Mets might also seek to acquire him. In 2022, Soto reportedly declined a substantial 15-year, $440 million offer from the Nationals, highlighting his value in the upcoming free agency.