For Juan Soto, Red Sox ‘Seem Willing’ to Make Largest Bid in Franchise History

Getty Free agent slugger Juan Soto

The Boston Red Sox have shied away from pursuing big-name free agents for the past six MLB offseasons, but the club now “seems willing” to offer “the largest bid in franchise history” in an all-out attempt to land Juan Soto, according to a report by The Boston Globe. That bid, according to baseball industry experts, could range anywhere from a low of $430 million to a top end of $700 million.

Soto’s agent Scott Boras is said to be looking to land a deal at the upper end of that spectrum for Soto. But other factors often come into play in free agent negotiations that could cause Soto to settle for a lower total dollar value. For example, in a recently unearthed 2021 interview, Soto revealed that the Red Sox were his favorite team when he was growing up in the Dominican Republic, due to their history of building their team around Dominican stars.

Whether that history would factor into Soto’s decision remains unclear. Soto, according to an SI.com report, has met with two other teams so far in addition to the Red Sox. The 26-year-old four-time All Star met with the Toronto Blue Jays on Friday and the New York Mets on Saturday, the report said. The New York Yankees — the team for whom Soto played the 2024 season on a one-year, $31 million contract — are expected to meet with Soto possibly as early as Monday.

What was said, or if any money was offered in any of those meetings has not been confirmed. According to one report in the local Boston media, however, the subject of money or contract terms was not mentioned in Soto’s meeting top Red Sox brass.

Soto in No Hurry to Make Decision

In any event, Soto appears to be in no rush to make up his mind. Boras has told ESPN.com that his client has not set a timeframe for his decision on where he will play next season and, likely, the remainder of his career. Based on recent high-profile signings, the length of the contract Soto signs will be at least 10 years.

MLB insider speculation, however, has held that baseball’s winter meetings appear to be a likely target date to get a Soto deal completed. Those meetings this year are set for Dec. 8 through Dec. 11, in Dallas, Texas. The Winter Meetings annually bring together top executives from all Major League franchises under one roof, along with agents and even players themselves. As a result, that’s where numerous trades and signings are finalized.

Prior to the Red Sox retreat from the high-end free agent market after the team fired 2018 World Series-winning VP of Baseball Operations Dave Dombrowski, the club had a rich history of inking top free agents to mega-deals. That was true both under current Fenway Sports Group ownership, headed by billionaire financial trader John Henry, and under previous ownership.

The team’s prior owner, Tom Yawkey — an oil and mining heir — bought the team in 1933. Yawkey died in 1976 but his family estate continued to own and operate the Red Sox until Henry’s group bought the club after the 2001 season.

Soto Offer May Double Previous Historic Red Sox Contract

It was under the previous ownership that, during the 2000 Winter Meetings, the Red Sox made history by signing former Cleveland power hitter Manny Ramirez to an eight-year, $160 million contract. Along with Alex Rodriguez who signed a 10-year, $252 million deal with the Yankees at those Winter Meetings, Ramirez became one of the first two players in MLB history to sign a $20 million-per-year contract.

Adjusted for inflation, the Ramirez contract would be worth slightly less than $300 million today — meaning that the offer the Red Sox “seem willing” to make could double the Ramirez deal in real dollars.