MLB Network Radio's Steve Phillips knows the intracity rivalry between the Mets and Yankees well. As the general manager of the Mets from 1997-2003, he oversaw the first World Series matchup between the two teams in 2000, which the Yankees won.
These days, Phillips is able to observe the New York rivalry from a distance as the two teams battle for free agent slugger Juan Soto.
More news: Juan Soto Has 5 Offers, $700 Million Target: Reports
Soto is reportedly seeking a contract of 15 years and at least $700 million. A contract that large could potentially set a record for a baseball player in terms of both years and dollars.
Shohei Ohtani signed a 10-year, $700 million contract with the Los Angeles Dodgers in Dec. 2023, but the deferred money in the deal brought its present-day value to $437,830,563 in total, according to calculations by the MLB Players Association.
But negotiations rarely use the player's asking terms as a starting point. As teams' initial offers roll in, it's worth wondering where teams will begin the bidding.
Phillips wrote on Twitter/X on Tuesday that his initial offer for Soto would be 13 years for $520 million, for an average annual value of $40 million.
My initial offer for Juan Soto would be 13 years for $520 million. That’s an AAV of $40 million.
What would be your initial offer?
At 26, Soto is younger than most free agents. He's made four All-Star teams, won a World Series ring, and hit 201 home runs across seven seasons with the Washington Nationals, San Diego Padres, and New York Yankees.
More news: Yankees' Aaron Judge OK With Juan Soto Topping His $40 Million Salary
Soto hit 41 homers, scored an AL-leading 128 runs, drove in 109, and reached base at a .419 clip batting ahead of Judge with the New York Yankees in 2024. Soto finished third in MVP voting behind only Yankees teammate Aaron Judge and Kansas City Royals shortstop Bobby Witt Jr., and was instrumental in leading the Yankees back to the World Series for the first time since 2009.
Five teams met with Soto and his agent, Scott Boras, in Southern California this month: the Toronto Blue Jays, Boston Red Sox, New York Mets, New York Yankees, and Los Angeles Dodgers. Reportedly each team sent a representative from ownership and the team's baseball operations department (a president of baseball operations and/or a general manager), as well as their manager.
More news: MLB Executives Explain Why Yankees Are the Juan Soto Favorites: Report
Soto is widely expected to sign during the week of the Winter Meetings in Dallas, Texas, Dec. 8-12.
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