Soto's record $765-m, 15-year deal reverberates through MLB

Shortly after striking a record $765 million, 15-year contract for Juan Soto with the New York Mets, agent Scott Boras walked into Nick& Sam's, a restaurant near the winter meetings hotel, with about a dozen of his staff.

They were given a bottle of celebratory champagne and dined on deviled eggs, crab, shrimp and a New York strip steak — appropriate given that the Mets had stripped the All-Star outfielder from the rival Yankees.

"Scott is coming with his army of personnel. It was kind of like the 'Gladiator,'" said Boston Red Sox manager Alex Cora, who watched from across the steakhouse Sunday night.

Soto's deal, the largest and longest in baseball history, was pending a physical. The agreement reverberated across the winter meetings and stung the Yankees, who on Sunday morning had raised their offer to $760 million over 16 years from $712.5 million for 15 years.

"My first thought is that my oldest kid is going to be 28 when he's done playing. That really puts it in perspective for me," San Francisco president of baseball operations Buster Posey said.

Yankees manager Aaron Boone learned of Soto's decision when his flight arrived in Dallas.

"Literally the wheels hit the runway and the alert hit my phone that he had signed with the Mets," Boone recalled.

He texted an emoji of a face to Mets manager Carlos Mendoza, a former Yankees coach. Mendoza wasn't sure what Boone meant.

"I sent him another face," Mendoza said Monday, shrugging his shoulders.

Soto's deal, which includes a $75 million signing bonus, would rise to $805 million if the Mets exercise their right to void Soto's ability to opt out after the 2029 season.

"I was shocked when I saw the bonus. My goodness," said Cincinnati manager Terry Francona, thinking about the implications for prices other teams will have to pay for players. "I think it makes it harder, but I certainly don't begrudge teams for doing it if they can. They're not breaking the rules. We're going to have to make really good decisions, and we're not going to be able to outspend on mistakes, so we have to limit those."

Soto's deal sparked even greater expectations in a free agent market that includes pitchers Corbin Burnes and Max Fried, first basemen Pete Alonso and Christian Walker, third baseman Alex Bregman and outfielder Anthony Santander.

"I think everybody's intent is hopefully to land their planes as soon as possible, whether it's trades or free agency," Yankees general manager Brian Cashman said.

Some teams have feared the economic might of Mets billionaire owner Steve Cohen, whose team has been baseball's biggest spender during the last two years.

"We want to win and we have an owner that is willing to do whatever it takes," Mendoza said.

Mets president of baseball operations David Stearns wouldn't discuss Soto because the deal wasn't finalized.

"Every year I've ever been around the game at some point in the offseason there is a cry of inflationary free agency," he said. "And then at some point in the offseason there's this worry that a bunch of players aren't going to either get paid what they deserve or aren't going to have jobs."

Many small-market teams have long sought a salary cap but the consensus since the 1994-95 strike has been not to propose a hard limit, knowing it would provoke another lengthy work stoppage. The current labor contract expires in December 2026.

Most teams were priced out of the Soto market.

"We have to be creative. We have to put the best 26 guys on a roster or the best 40 guys on a roster, not the best one or two," Kansas City manager Matt Quatraro said. "I still think at the end of the day you have a chance to compete against those guys. Soto is going to hit four to five times a night. Those are impactful at-bats, but there are other ways to combat that with a full 26-man roster."

Soto, 26, helped Washington win the 2019 World Series and in 2022 turned down a $440 million, 15-year offer from the Nationals, who then traded him to San Diego.

"I can sit here and say that I'm the only manager that won a World Series with him," Nationals manager Dave Martinez said. "How about that?"

San Diego traded Soto to the Yankees last December.

"I'm not sure there's anything we could do any different," Cashman said. "Outside of winning the World Series, it played out perfect."

Combining with Aaron Judge, Soto helped the Yankees win their first AL pennant since 2009 before they lost to the Los Angeles Dodgers in the World Series.

Boras asked Saturday night for final offers in the morning.

"Hal Steinbrenner really stepped up to find a way to retain Juan Soto," Cashman said. "He is one of one. He is a unique guy with a unique age."

Boras called Cashman on Sunday night to inform him Soto was signing elsewhere. Cashman then contacted Steinbrenner and team president Randy Levine to deliver the news to both jointly.

Agencies via Xinhua