Bidding for Juan Soto hits important milestone

Juan Soto is set to sign the second-biggest contract in MLB history. While we don't yet know which team will pay him, the contract he signs will likely be worth more than $600 million. The Athletic's Ken Rosenthal and Evan Drellich reported Tuesday that bidding for Soto has already topped the $600 million mark, meaning the eventual contract he signs could be closer to $650 million.

According to the report the New York Yankees, New York Mets, Boston Red Sox, Toronto Blue Jays and Los Angeles Dodgers are the known teams in the running for the slugger. All contenders have offered Soto a contract worth more than $600 million, but it is unknown which teams those are specifically.

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At the Dodgers' introductory press conference for starting pitcher Blake Snell, Soto's agent Scott Boras, who also represents Snell, told reporters that Soto has begun the process of eliminating potential landing spots, but did not mention any team by name. The expectation among front offices is that Soto will make his decision by the end of the MLB's Winter Meetings, which begin on Sunday and may even sign before then.

Boras emphasized that a decision is not imminent, though.

“When you’re going through these things, he’s just got a lot of information to meld through,” Boras said. “We’ve had meetings with a number of franchises. He’s begun the process of eliminating teams and doing things. Juan is a very methodical thinker, so we’ll see, but I don’t think anything is imminent in the near future.”

The reason Soto is on the verge of signing the second biggest contract in MLB history, and one that is expected to be 12 or more years long is because he is in the prime of his career. At 26 years old, Soto is also coming off one of his best seasons, hitting .288 with 41 home runs, a career high, and posting an OPS of .989 in 2024.

According to Rosenthal and Drellich, the Mets are widely considered the favorite, due to the belief that owner Steve Cohen will outbid any team's offer. The favorite isn't always the winner, though, and Soto will have a tough decision to make in the upcoming days.

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