After the New York Yankees clinched the American League Championship Series against the Cleveland Guardians on October 19, fans in Cleveland began chanting, “Re-sign Soto.” This refrain follows months of calls from Yankees fans for the team to retain right fielder Juan Soto at home games in the Bronx. The chants gained momentum after Soto hit a pivotal home run in the 10th inning during Game 5 of the ALCS, leading the Yankees to a 5-2 victory and advancing them to the World Series against the Los Angeles Dodgers.
Soto is celebrating his 26th birthday on October 25, the same day as Game 1 of the World Series, and has been a standout player for the Yankees this postseason, boasting a .333 batting average with three home runs and eight runs batted in. Unlike other Yankees stars such as center fielder Aaron Judge, who signed a nine-year, $360 million deal in 2022, Soto is playing on a one-year contract for 2024, making him eligible for free agency following the World Series.
In terms of contracts, Soto does not have a deal in place for the 2025 season. Prior to joining the Yankees, he played for the San Diego Padres and the Washington Nationals. His 2024 contract, worth $31 million, set a record for arbitration-eligible players, surpassing Shohei Ohtani’s previous record of $30 million with the Los Angeles Angels in 2022.
As for Soto’s potential future contract, estimates range widely. Reports suggest he could command anywhere from $500 million to nearly $600 million. While it’s uncertain where he might play next season, Soto expressed openness to negotiating a long-term deal during the season if the Yankees chose to approach his agent, Scott Boras.
Yankees owner Hal Steinbrenner has indicated a desire to keep Soto with the team for the long haul, though it’s acknowledged that his agent typically does not finalize contracts during the season. Meanwhile, there are indications that the New York Mets may also be interested in Soto’s services.
Regardless of where Soto ultimately signs, it appears he is holding out for a significant payday, having previously turned down a 15-year, $440 million offer to remain with the Nationals in 2022.