Official MLB transaction records

Soto's $765M Deal with Mets Includes Luxury Suite, Eyes Championships

Dec 12, 2024, 10:45 PM

Juan Soto, a 26-year-old outfielder, has signed a historic 15-year, $765 million contract with the New York Mets, marking the largest deal in Major League Baseball history. The contract includes a $75 million signing bonus and no deferrals, with an opt-out clause after the fifth season that can be nullified by the Mets if they agree to raise his annual average value from $51 million to $55 million following the 2029 season. Soto's decision to join the Mets was influenced by the team's vision for the future, the personal touch from Mets owner Steve Cohen, and the inclusion of a luxury suite for his family, a perk the Yankees did not offer. Soto expressed his appreciation for his time with the Yankees but was drawn to the Mets' ambition to build a dynasty and their family-oriented atmosphere. The Mets' owner, Steve Cohen, emphasized his commitment to winning championships, setting a goal of two to four World Series titles over the next decade. Soto's signing is seen as a significant move for the Mets, aiming to shift the balance of power in New York baseball away from the Yankees. The Mets are also considering adding players like Nolan Arenado to bolster their roster, indicating a comprehensive strategy to enhance their competitiveness.