Juan Soto has reset the market for salaries when it comes to Major League Baseball players.
Here's a look at how the new $765 million contract stacks up to other sports and why Soto signing with the New York Mets could financially impact billionaire Warren Buffett.
What Happened: Hedge fund manager Steve Cohen has made a big splash in Major League Baseball free agency with his New York Mets landing the highly-prized Soto, who played last season with interstate rival the New York Yankees.
Soto will be paid $765 million over the next 15 years, ranking as one of the largest sports contracts of all time, with an average annual salary of $51 million now being paid to the superstar.
Mets Win Might Affect Buffett: The New York Mets play in the NL East division in Major League Baseball and are now the betting favorite to win the division next year with odds of +150 at BetMGM, followed by the Atlanta Braves at +180.
Billionaire Warren Buffett is a partial owner of the Atlanta Braves thanks to Berkshire Hathaway Inc (NYSE:BRK)(NYSE:BRK) owning a stake in the publicly traded MLB team, which trades as Atlanta Braves Holdings (NASDAQ:BATRA).
Last year, the Philadelphia Phillies won the NL East with a record of 95-67. The Mets (89-73) and Braves (89-73) also made the MLB Playoffs as Wild Cards, but the Mets lost in the National League Championship Series to the eventual World Series winners, the Los Angeles Dodgers.
The Mets have struggled in recent years, making the MLB Playoffs in only four of the last ten seasons and winning only four playoff series over that time. The team last made the World Series in 2015 and 2000, but they came up short. The team's last World Series win was in 1986.
Soto signing with the Mets could be bad news for the rest of the NL East, including the Braves, who have made seven straight postseasons. The Braves won the 2021 World Series and the NL East for six straight seasons from 2018 to 2023.
With the Mets, Braves, and Phillies all expected to be competitive in the 2025 season, the Braves risk missing the playoffs, which could hurt the public company financially.
Here are the current betting odds for the 2025 World Series from sportsbook DraftKings Inc (NASDAQ:DKNG):
- Dodgers: +380
- Braves: +750
- Mets: +800
- Yankees: +900
- Phillies: +1,000
- Orioles: +1,100
The Mets moved from seventh (+1,400) in betting odds to win the World Series to third, and could see their odds quickly pass the Braves if bettors back the team after the Soto signing. Three of the five NL East teams rank among the top five betting favorites for the next World Series.
Soto signing with the Mets could be good news for Mets fans and Cohen, but could quickly turn into bad news for Buffett and Braves shareholders, depending on which team fares better in the 2025 MLB season.
Soto's Earnings In Context: For comparison, Soto's new deal contrasts with Los Angeles Dodgers star Shohei Ohtani's 10-year, $700 million contract signed last offseason. Ohtani, one of only four MLB players averaging over $40 million annually, has a heavily backloaded deal with $680 million deferred, lowering his salary in the initial years, as reported by Bleacher Report.
In the NBA, Jaylen Brown signed a five-year $285.4 million deal that pays an average of $57.1 million annually. There are 12 NBA players who earn an average of $40 million annually.
In the NFL, several quarterbacks have reset the market with recent deals. Superstar Patrick Mahomes (Kansas City Chiefs) signed a 10-year $450 million contract averaging $45 million annually. Dallas Cowboys quarterback Dak Prescott reset the market in September with a four-year contract for $240 million, averaging $60 million annually.
The salaries of MLB, NBA and NFL are significantly higher than NHL players. In the NHL, Edmonton Oilers forward Leon Draisaitl will be the highest-paid player next season with an average annual salary of $14 million thanks to an eight-year $112 million contract extension.
Front Office Sports tweeted out comparisons showing what Soto will out-earn over the next 15 years.
- $757 million: The Pittsburgh Pirates entire payroll since 2015
- $678 million: The average MLS franchise team valuation
- $531 million: LeBron James’ NBA earnings in career
- $450 million: Patrick Mahomes’ NFL earnings on current contract through 2031
- $332 million: Tom Brady's NFL earnings in career
- $255 million: The 2024 NFL salary cap
- $154 million: Tiger Woods’ PGA Tour earnings in career
To put the $765 million into further context, Soto will now make more over the next 15 seasons than the combined career salaries of three sports superstars, using data from Spotrac:
- Tom Brady: $332.96 million
- Kobe Bryant: $323.31 million
- Michael Jordan: $93.88 million
- Total: $750.15 million
The salaries above do not include endorsements and were not adjusted for inflation.
Read Next:
Photo: nyker/Shutterstock.com
