The New York Mets recently agreed to terms with superstar outfielder Juan Soto on a 15-year contract worth $765 million after a furious bidding war with the New York Yankees, with whom Soto spent his standout 2024 season.
The Yankees’ final offer was quite competitive – reportedly $760 million over 16 years, also without any deferrals.
The New York Post’s Jon Heyman reported Monday night that the Yankees “were given the chance [to match the Mets’ offer] but declined.
On Tuesday, though, Heyman changed his story and said instead that the Yankees “had the option to keep bidding” but “hit their limit.”
The Yankees also reportedly refused to offer Soto a free suite at Yankee Stadium — as the Mets did at Citi Field — saying that neither Aaron Judge nor Derek Jeter were afforded such a luxury.
The New York Mets recently reached an agreement with superstar outfielder Juan Soto on a $765 million, 15-year contract following a heated bidding war with the New York Yankees, with whom Soto had a stellar 2024 season.
Why the Mets won the bidding is clear. With a $75 million signing bonus and no deferred funds, they made the highest offer. In addition, Soto had a five-year opt-out, which the Mets could only waive by raising the deal’s total value above $800 million.
The Yankees made a very aggressive last offer, reportedly offering $760 million over 16 years with no deferrals. On Monday night, Jon Heyman of the New York Post reported that the Yankees “were given the chance [to match the Mets’ offer] but declined.”. However, Heyman stated on Tuesday that the Yankees “had the option to keep bidding” but “hit their limit.”. “.
The Yankees allegedly declined to give Soto a complimentary suite at Yankee Stadium, similar to what the Mets did at Citi Field, claiming that neither Derek Jeter nor Aaron Judge were eligible for such a perk. They did give him a discount, though.
The Yankees reportedly hit their maximum price before the Mets did, and each team has one. It’s easy to see a situation where the Yankees take it for granted that Steve Cohen, the richest and possibly most driven MLB owner, would have been prepared to keep putting up the offer until he won. The Post claims that’s kind of what happened.
That frantic bidding makes sense, of course. At just 26, Soto is a generational hitter whose combination of batted-ball authority and plate discipline—both of which are exceptional—portends great things for the future. To the long-term advantage of the Mets, the Yankees ultimately blinked first when it came to market rates for such a talent.
