The Juan Soto Sweepstakes is expected to reach $700 million

The bid for the Juan Soto Derby is expected to reach baseball’s magic $700 million mark, with the heated competition still featuring five major teams including the Mets and reigning Yankees closing in on one historic end is approaching.

At least four teams – the Mets, Yankees, Red Sox and Blue Jays – are believed to be at least within reach of this MLB record, previously only achieved by international superstar Shohei Ohtani. Interestingly, Ohtani’s World Champion Dodgers are one of five finalists thought to be left in the bid (but apparently not eliminated due to other obvious positives).

Soto’s goal heading into the big winter sweepstakes was to find a consistent winner who would pay what he was worth, which turns out to be a lot, at least in the eyes of baseball’s key decision-makers. It is understood that no team has yet separated financially, making the decision difficult. In addition, changed offers are said to have been received in the last one or two days, which can complicate matters.

Soto is already known for being patient (see his punches), and with all four highest bidders bringing with them strong positives as well as some negatives, it should come as no surprise that he is carefully weighing a decision that will impact his next 15 years (although there will probably be at least one opt-out no matter where he goes). Meanwhile, fans and even senior executives are increasingly concerned, particularly about Soto, but also about how they might change if he moves elsewhere. Once he signs, expect a lot of activity at the winter meetings, which unofficially begin on Sunday.

Some may wonder how Soto, as great a hitter as he is, can surpass the uniquely great Ohtani, whose record-breaking $700 million deal is valued by MLB people at between $437 million and $470 million given his unprecedented .680 Millions of dollars in deferred funds taken into account. But keep in mind that Soto, who turned 26 on the day of Game 1 of the World Series against the Dodgers, is four years younger than Ohtani as a free agent.

The other factor is that Soto doesn’t appear to have any geographic preferences impacting his market, as appears to be the case with Ohtani, whose other top choice besides the Dodgers was the incumbent Angels. Soto has already played for three teams, including just one year in the Bronx, albeit a happy and productive one overall, as he posted a .989 OPS and the Yankees reached the World Series for the first time in 15 years. Despite old rumors that he preferred the East Coast, friends say he also really liked San Diego.

The American League champion Yankees currently have the best roster of the four highest bidders, and that certainly works to their advantage. But Soto reportedly had questions about her farm system at their meeting, which was generally a very positive gathering. For a team that has only had winning seasons since 1993, that seems like a minor consideration, but it’s his decision and he’s looking to the future.

While the National League runner-up Mets are clearly on the upswing and wealthy owner Steve Cohen is giving them all sorts of options, their current roster might be a bit questionable. With so many key free agents either gone (Luis Severino) or unsigned (Pete Alonso, Sean Manaea, Jose Quintana), their team appears unfinished.

At their meeting, the Red Sox highlighted their outstanding roster of prospects, their history of Dominican stars (including Pedro Martinez and David Ortiz) and the excellent Fenway fit for Soto’s patented opposite-field drives. But they have to come to terms with the fact that they have finished last in each of the last three seasons.

The Blue Jays, who like the Mets have the potential to be extremely aggressive, appear to be a much better team on paper than they showed in 2024. But their two big stars, Vlad Guerrero Jr. and Bo Bichette, are free agents after 2025, so their future may look less certain than that of the Yankees, Mets and certainly the Dodgers.

Then there’s the wild card in this derby, the Dodgers, who have the best MLB roster and appear to be very well positioned to dominate in the coming years. That’s thanks to a deep pitching staff, a versatile and star-studded position staff and, especially, Ohtani, perhaps baseball’s most versatile player, whose $68 million in annual deferments allow them to do just about anything they want.

The Dodgers also hope to re-sign Japanese superstar pitcher Roki Sasaki and star outfielder Teoscar Hernandez. The potential of joining what appears to be a super strong side is certainly why they remain in a derby where the other four teams understandably all seem more motivated.