Juan Soto has a new contract with the New York Mets worth $765 million over 15 years, finalized on Wednesday. As part of this record-breaking deal, Soto will receive free use of a luxury suite and up to four premium tickets behind home plate for every regular-season and postseason Mets home game.
The Mets will also provide personal security for Soto and his family at the team’s expense for all spring training, regular-season home, and away games. Normally, MLB teams offer security to player families in seating areas at ballparks.
In addition, New York will help Soto’s family with travel arrangements during the season. Soto will wear his previous uniform number, No. 22, and the contract includes eight types of award bonuses.
Soto wore No. 22 during his time with the Nationals, Padres, and Yankees, but it had been worn by Mets third baseman Brett Baty for the past three seasons.
The Mets are planning to introduce Soto at a news conference Thursday afternoon at Citi Field.
“This is a seminal moment in franchise history,” said Mets owners Steve and Alex Cohen in a statement. “Juan Soto is a generational talent. He is not only bringing staggering historical statistics with him but also a championship pedigree.”
Soto’s luxury suite will be valued at the Mets’ current prices, likely for tax purposes, and after 2025, Soto can choose to change or give up his suite selection for the upcoming season by January 15. He must request the premium tickets, which can be used by family members, at least 72 hours before the game.
The Yankees had not offered Soto a free suite.
“Some high-end players that make a lot of money for us, if they want suites they buy them … whether it’s CC (Sabathia), whether it’s (Aaron) Judge, whether it’s (Gerrit) Cole, whether it’s any of these guys,” said Yankees general manager Brian Cashman.
“We’ve gone through a process on previous negotiations where asks might have happened and this is what we did and we’re going to honor those, so no regrets there.”
Cashman added that the Yankees provide a shared suite for player families and a family room with babysitting services.
As part of the contract, Soto receives a $75 million signing bonus, which will be paid within 60 days of the agreement being approved. The deal for the 26-year-old player exceeds Shohei Ohtani’s $700 million, 10-year contract with the Dodgers. Soto’s contract was finalized on Sunday after passing a physical on Tuesday.
Soto’s salaries will be $46,875,000 in 2025 and 2026, $42.5 million in 2027, and $46,875,000 each in 2028 and 2029. For the final ten years, he will earn $46 million per year.
Soto has the option to opt out of the agreement after the 2029 World Series, but the Mets can block this option by increasing his yearly salary to $50 million for 2030-2039 and raising the total contract value to $805 million. If the Mets don’t act to remove the opt-out option by three days after the World Series, Soto can decide by the fifth day.
Soto also has a full no-trade clause and will receive a hotel suite on road trips.
“Today’s signing further solidifies our organizational commitment to consistent championship competitiveness,” said Mets president of baseball operations David Stearns.
“Not only does Juan provide historic levels of on-field production, but his joy, intensity, and passion for the game mirror our budding culture. We are thrilled to add him to our team and look forward to watching his excellence for years to come.”
Soto will also earn various bonuses throughout his contract. He would get a $500,000 bonus for winning his first MVP award and $1 million for each MVP award after that.
For finishing second in MVP voting, Soto would receive $350,000, and for third through fifth, he would earn $150,000. He placed third in the AL MVP voting this year.
Other bonuses include $100,000 for each All-Star selection, Gold Glove, and All-MLB first or second team selection. Soto would get $350,000 for World Series MVP and $150,000 for League Championship Series MVP. He would earn $150,000 for a Silver Slugger award and $100,000 for the Hank Aaron Award.
These award bonuses will be paid by January 31 of the year after the season in which the bonus is earned.