Soto’s bid could be as high as $700 million

Than that Juan Soto The decision is getting closer, the expected contract seems to continue to increase. Jon Heyman of the New York Post writes that the price could rise to $700 million. Heyman suspects the Mets, Yankees, Red Sox and Blue Jays could all be close to that mark. The Dodgers are also among the finalists, but various reports say they have the least chance of signing him of the quintet.

On Tuesday, The Athletic reported that several teams had made offers of $600 million or more. Agent Scott Boras said at the time that Soto had begun narrowing the field, but he did not provide a timeline for his decision. Most reports indicate he will likely sign by the end of the winter meetings next week, perhaps as early as this weekend.

According to Heyman, teams have continued to adjust their offers in recent days. Alex Speier of the Boston Globe reported last night that the Red Sox were hoping for one final meeting with Soto’s camp to get the outfielder to reveal the specific price at which he put pen to paper. It’s not clear whether Soto would give a team that seating opportunity.

Shohei Ohtanis The deal was initially reported as a 10-year, $700 million contract. The extreme nature of the shifts in the Ohtani deal, reported days after he announced he would sign with the Dodgers, dramatically reduced the net present value. MLB valued the contract at around $461 million for luxury tax purposes. That’s still an all-time record. Soto would undoubtedly top the $461 million mark, and is widely expected to go well past the $500 million mark. (MLBTR projected a 13-year, $600 million deal at the start of the offseason.) Getting to $700 million without a reprieve would shatter previous contractual precedents.

Ohtani’s annual salary of $46.06 million – again adjusted for deferrals – is the record for average annual value. Bryce Harper’s The 13-year contract is the longest free agent contract in history. Soto would likely have to break both records to get to $700 million, possibly on a 14-year deal at $50 million per year. It shouldn’t be long before we find out if the market will reach these heights.