The New York Yankees suffered a major setback as they lost out in the bidding war for superstar Juan Soto, who chose to join the crosstown-rival Mets on a historic deal. This decision stings for Yankees fans, especially after Soto’s impressive performance during his lone season in New York. Despite the loss, Yankees owner Hal Steinbrenner made a competitive offer to land the outfielder.
Soto ultimately signed a groundbreaking 15-year contract with the Mets, valued at $765 million, with the possibility of reaching $800 million through escalators. The contract is fully guaranteed with no deferred money and includes an opt-out after the fifth year.
The Yankees put up a strong fight, offering Soto a 16-year deal worth $760 million, according to Jon Heyman of The New York Post. However, the slight difference in average annual value—$51 million with the Mets versus $47.5 million with the Yankees—combined with the additional escalators, was enough to lure Soto to Queens.
This loss is a tough blow for the Yankees, especially after making it to the World Series for the first time in 15 years. With Soto now out of the picture, the Yankees face the challenge of finding more protection for their star player, Aaron Judge. This could involve a major spending spree on players like Teoscar Hernandez, Christian Walker, Alex Bregman, and Anthony Santander.
While losing out on Soto is a tough pill to swallow, it’s clear that Soto prioritized securing the best possible deal for himself. The Yankees will now need to regroup and adjust their strategy to stay competitive in the coming seasons.