The Yankees made it clear that signing Juan Soto was their primary goal this offseason, with managing general partner Hal Steinbrenner even embarking on a cross-country trip for a two-hour meeting with Soto and his agent, Scott Boras.
New York was prepared to go further into financial territory than ever before to maintain the relationship that had proven vital in guiding the team to its first World Series in 15 years. However, as other teams expressed strong interest in the superstar outfielder, the Yankees recognized the need to stay proactive.
As Soto’s free agency lingered and other teams, including the Mets, positioned themselves as contenders, the Yankees quietly began to develop a “Plan B.” This contingency plan came into play on Sunday when Soto ultimately chose to sign a 15-year, $765 million contract with the Mets, crossing borough lines and ending his potential future with the Yankees.
With Soto now off the table, New York’s front office shifted its attention toward other free agents, including pitchers Corbin Burnes and Max Fried, as well as potential position players like Pete Alonso, Teoscar Hernández, and Anthony Santander.
Despite competing with teams like the Red Sox, Blue Jays, and Dodgers for Soto’s services, the Yankees’ biggest obstacle remained Mets owner Steve Cohen’s willingness to spend. Yankees captain Aaron Judge even stated that he would have no issue if the team exceeded his own massive contract to retain Soto.
According to MLB.com’s Mark Feinsand, the Yankees’ final offer was $760 million over 16 years—$47.5 million in average annual value—just slightly below the Mets’ $51 million average annual value with their $75 million signing bonus and no deferrals.
Soto was first acquired by the Yankees from the Padres during last year’s Winter Meetings, with the understanding that there was a possibility he could only spend one season in New York. Despite talks with Steinbrenner and the front office regarding a long-term extension, Soto chose to focus on his performance during the 2024 season before addressing his future.
That season was memorable for Soto’s critical pennant-winning home run against the Guardians in the ALCS, and his impressive .288/.419/.569 slash line, with 31 doubles, 41 homers, 109 RBIs, and 129 walks.
Now signed with the Mets, Soto will bring his impressive talents to a team that was two wins shy of reaching the World Series in 2024. His first return to Yankee Stadium in Mets colors during the three-game Subway Series on May 16–18 is expected to draw a fascinating reception.
Meanwhile, the Yankees will turn their attention to alternative moves in free agency and the trade market as they recalibrate their strategy following the loss of their top target.
