DALLAS — On Sunday morning, sometime between 9:30 and 10 a.m., New York Yankees general manager Brian Cashman submitted the organization’s final contract offer for Juan Soto. It would’ve been, by far, the richest deal in North American professional sports history.
He soon found out it wasn’t enough. That night, Scott Boras, Soto’s agent, called to tell him his client had agreed to sign with the New York Mets.
Cashman then hopped on a conference call with Yankees owner Hal Steinbrenner and president Randy Levine to break the news that Soto had decided to turn down the Yankees’ 16-year, $760 million offer for a slightly richer deal in Queens.
“Hal Steinbrenner really stepped up to find a way to retain Juan Soto, and I’m certainly proud of his efforts,” Cashman said Monday. “Certainly went well beyond what I would have expected.”
Cashman spoke to reporters Monday at the Hilton Anatole, site of this year’s winter meetings. A few minutes later, at the other end of the hotel, Mets president of baseball operations David Stearns declined to discuss Soto because the agreement was not yet official.
The Mets and Soto agreed Sunday to a 15-year, $765 million deal without deferrals and with escalators that could carry the total to $805 million, sources told ESPN. It will surpass the record $700 million deal Shohei Ohtani signed just a year ago — in total value and average annual value. The Yankees’ offer, which also didn’t include deferrals, would have, too.
“I would just say Hal went above and beyond to try to find a way to keep Juan Soto in pinstripes and continue to keep him a part of our mix as we move forward and take our shot,” Cashman said. “But there’s a lot of different ways to figure this thing out, and so we’re just going to have to figure it out a different way.”
The 26-year-old Soto’s decision ended a month-plus-long saga featuring recruitment meetings, various stages of offers and endless rumors. In the end, the Boston Red Sox, Toronto Blue Jays and Los Angeles Dodgers made offers, but Soto’s choice came down to the Yankees and Mets. Cashman explained the Yankees made their final offer blindly, without knowing what others were offering, and weren’t given a chance to match the Mets. He said he did not know if Soto would’ve chosen the Yankees if they had matched their crosstown rivals’ offer.
“I’d rather him not be in the American League East,” Cashman said when asked if Soto going to the Mets made the loss sting more. “I guess, you know, pick your poison. Ultimately, listen, the Mets got a great player. So, congratulations to them.”
Soto’s decision came the day after the one-year anniversary of the Yankees acquiring Soto and outfielder Trent Grisham from the San Diego Padres for five players, including right-hander Michael King, knowing Soto could bolt after only one season in the Bronx. Soto went on to hit a career-high 41 home runs and finish third in American League MVP voting as the Yankees’ right fielder before starring in October as the Yankees fell three wins short of a World Series title — a platform year that further ignited a heated bidding war between a few of the sport’s richest franchises.
“It’s not a deal we regret,” Cashman said of last winter’s trade. “He impacted us in a heavy way. I’m just sorry we fell short in the World Series. But he, with others obviously, had a great part in us getting where we did, becoming American League champs in 2024.”
Without Soto, Cashman said Aaron Judge is likely to move back to right field, giving Jasson Dominguez, the organization’s top prospect, a path to start in center field. With the money previously allocated to Soto, the Yankees can pivot in several directions.
The Yankees have met with both Corbin Burnes and Max Fried, the top two starting pitchers on the free agent market with major league experience. They have expressed interest in trading for Chicago White Sox left-hander Garrett Crochet and Chicago Cubs first baseman/outfielder Cody Bellinger. Outfielders Anthony Santander and Teoscar Hernandez are potential free agent targets. As is third baseman Alex Bregman.
The Yankees had also met with left-hander Blake Snell and shortstop Willy Adames before both players signed with other clubs as they waited for Soto. They will be aggressive.
“It’s not easy to find matches with comfort in free agency,” Cashman said. “Typically, you have to get out of your comfort zone, but we’re also, at the same time, not going to be drunken sailors. We’re going to do our best to try to improve the team based on our evaluations, based on our capabilities, because the Steinbrenner family‘s efforts are strong typically and we’ll hopefully run into some things that can benefit us that will make our fans excited as we move forward.
