MLB rumors: Yankees make big move in Juan Soto sweepstakes

The New York Yankees have bolstered their bid for superstar outfielder Juan Soto, signaling their determination to retain their top free-agent target. According to reports, the Yankees recently upgraded their offer, perhaps improving their standing in the offseason’s most closely watched free-agent sweepstakes.

Soto, 26, is widely expected to secure a record-breaking contract that could exceed $600 million, with some teams reportedly prepared to push past that threshold. The Yankees are one of at least five big-market teams pursuing the former MVP candidate, including the New York Mets, Los Angeles Dodgers, Boston Red Sox, and Toronto Blue Jays. A potential “mystery team” may also be in the mix.

The Yankees’ focus on Soto has been unwavering despite preliminary conversations with free-agent pitchers like Corbin Burnes and Max Fried. For now, Soto remains their clear priority.

The Yankees have reportedly indicated their willingness to include opt-outs in their proposal, a significant factor in Soto’s preference for a long-term deal spanning up to 15 years. However, these opt-outs are unlikely to set them apart, as multiple teams are expected to make similar concessions.

Yankees keep their foot on the gas in the pursuit of Juan Soto

New York Yankees outfielder Juan Soto (22) celebrates with teammates in the dugout after hitting a solo home run against the Chicago White Sox during the fifth inning at Guaranteed Rate Field. — Kamil Krzaczynski-Imagn Images

Soto’s recent meeting with the Yankees’ front office was successful. Team owner Hal Steinbrenner attended the session and demonstrated his commitment to returning Soto to the Bronx. This comes after Soto’s stellar 2024 season with the Yankees, during which he hit 41 home runs, posted a .989 OPS, and finished third in MVP voting.

The Yankees, with their financial might and high-profile status, may appear to be favorites in the race. However, their competitors present formidable challenges.

Mets owner Steve Cohen has reportedly made Soto a top priority, while the Red Sox are aggressively pursuing the slugger to revitalize their franchise. Boston’s pitch emphasized how Fenway Park’s unique dimensions could suit Soto’s power-hitting style, and their meeting was said to be productive.

The Toronto Blue Jays are also in strong contention, with deep pockets and a willingness to make a major splash. Meanwhile, the Dodgers remain a compelling wildcard. Despite their stacked roster and recent $182 million commitment to Blake Snell, Los Angeles is still believed to be engaged in the Soto sweepstakes, leveraging their consistent success and appeal as a destination for top talent.

Soto’s decision is expected to hinge on more than just financial terms, as he weighs factors like team culture, roster composition, and competitive outlook. As the race heats up, the Yankees’ upgraded offer signals their intent to make Soto a cornerstone of their franchise for years to come. Whether that commitment is enough to outpace fierce competition remains to be seen.