Dominican baseball star Juan Soto has become the new king of global sports by signing the largest contract in history, surpassing previous record deals held by soccer legends Lionel Messi and Cristiano Ronaldo.
As hinted in the weeks leading up to the agreement, Soto prioritized financial security and chose to join the New York Mets in Queens rather than staying with the New York Yankees in the Bronx.
The left-handed slugger's deal with the Mets dwarfs other notable contracts in sports history, including Shohei Ohtani's $700 million, 10-year deal with the Los Angeles Dodgers.
Bigger than Messi and Ronaldo
Soto's contract totals an unprecedented $765 million over 15 seasons with the New York Mets, eclipsing Lionel Messi's 2017 deal with FC Barcelona ($673 million), Cristiano Ronaldo's contract with Al-Nassr in Saudi Arabia ($522.5 million), and Patrick Mahomes' 10-year, $450 million deal with the Kansas City Chiefs.
El Mundo today, what a bomb. Leo Messi’s contract with Barcelona revealed on front page 🔴👇🏻 @elmundoes
— Fabrizio Romano (@FabrizioRomano) January 31, 2021
- €555,237,619 contract [4 years].
- €138m per season fixed + variables.
- €115,225,000 as ‘renewal fee’ just for accepting the contract.
- €77,929,955 loyalty bonus. pic.twitter.com/FK3I34hJta
Part of the rationale behind the Mets' historic offer lies in Soto's unique combination of youth and talent. At just 26 years old, he is coming off a career-best season with the Yankees, where he hit 41 home runs and drove in 109 RBIs, leading the team to the 2024 World Series.
While the Mets have not officially announced the agreement, the deal's terms have been made public.
According to journalists like Jeff Passan (ESPN) and Bob Nightengale (USA Today), the contract includes an opt-out clause after the fifth year (2029). The Mets could cancel this clause by adding $4 million annually for the next 10 years, pushing the total value to $805 million.
Wait, if Juan Soto’s 15-year, $765 million contract wasn’t stunning enough, it can actually be worth $805 million.
— Bob Nightengale (@BNightengale) December 9, 2024
If the Mets want to void Soto’s opt out after the 2029 season, they must increase his annual salary from $51 million to $55 million beginning in 2030.
Additionally, Jorge Castillo reported that Soto received a $75 million signing bonus.
Soto can either opt out after the fifth year (2029) or receive a $4 million raise per season — from $51 million to $55 million — for the remainder of the contract, per source. https://t.co/3Vh6pXJ8ZB
— Jorge Castillo (@jorgecastillo) December 9, 2024
Soto's meteoric rise
Soto's rise to stardom began when he debuted at 18 with the Washington Nationals, leading them to a World Series title in 2019.
Despite the Nationals offering him a 10-year, $445 million contract in 2022, Soto declined, aiming to secure a deal worth over half a billion dollars.
He was subsequently traded to the San Diego Padres midseason that year, where he played until joining the Yankees in late 2023 for $31 million—a move that significantly boosted his market value.
Initially, experts projected Soto's next contract to be worth around $500 million over 10 years. However, as his achievements piled up during the season, expectations rose to over $600 million.
A stellar postseason and World Series performance pushed that number to $700 million, igniting a bidding war that the Mets ultimately won against teams like the Yankees, Blue Jays, Red Sox, and defending champions the Dodgers.
Soto is set to join the Mets' Spring Training in March, where he will begin proving whether Steve Cohen's massive investment in the future king of baseball will pay off.
© 2024 Latin Times. All rights reserved. Do not reproduce without permission.
