After securing a record $765 million, 15-year deal for Juan Soto with the New York Mets, agent Scott Boras entered Nick & Sam’s, a restaurant near the winter meetings hotel, with about a dozen of his staff.
They were given a bottle of celebratory champagne and enjoyed dishes like deviled eggs, crab, shrimp, and a New York strip steak — a fitting choice, since the Mets had taken the All-Star outfielder from their rivals, the Yankees.
“Scott is coming with his army of personnel. It was kind of like the ‘Gladiator,’” said Boston Red Sox manager Alex Cora, who watched from across the steakhouse on Sunday night.
Soto’s deal, which was still waiting on a physical, became the largest and longest in baseball history. The agreement made waves at the winter meetings and caused disappointment for the Yankees, who had just raised their offer to $760 million over 16 years, up from $712.5 million for 15 years.
“My first thought is that my oldest kid is going to be 28 when he’s done playing. That really puts it in perspective for me,” said San Francisco president of baseball operations Buster Posey.
Yankees manager Aaron Boone found out about Soto’s decision when his flight landed in Dallas.
“Literally, as the wheels hit the runway, the alert hit my phone that he had signed with the Mets,” Boone recalled.
He sent an emoji of a face to Mets manager Carlos Mendoza, a former Yankees coach. Mendoza wasn’t sure what Boone meant.
“I sent him another face,” Mendoza said Monday, shrugging his shoulders.
Soto’s deal, which includes a $75 million signing bonus, could rise to $805 million if the Mets decide to void Soto’s option to opt out after the 2029 season.
“I was shocked when I saw the bonus. My goodness,” said Cincinnati manager Terry Francona, thinking about the effect on the prices other teams will have to pay for players. “I think it makes it harder, but I certainly don’t begrudge teams for doing it if they can. They’re not breaking the rules. We’re going to have to make really good decisions, and we’re not going to be able to outspend on mistakes, so we have to limit those.”
Soto’s contract raised expectations in a free agent market that includes pitchers Corbin Burnes and Max Fried, first basemen Pete Alonso and Christian Walker, third baseman Alex Bregman, and outfielder Anthony Santander.
“I think everybody’s intent is hopefully to land their planes as soon as possible, whether it’s trades or free agency,” said Yankees general manager Brian Cashman.
Some teams worry about the financial power of Mets billionaire owner Steve Cohen, whose team has spent the most in baseball over the last two years.
“We want to win and we have an owner that is willing to do whatever it takes,” Mendoza said. Mets president of baseball operations David Stearns wouldn’t comment on Soto’s deal because it wasn’t finalized.
“Every year I’ve ever been around the game at some point in the offseason there is a cry of inflationary free agency,” he said. “And then at some point in the offseason there’s this worry that a bunch of players aren’t going to either get paid what they deserve or aren’t going to have jobs.”
Many smaller teams have long wanted a salary cap, but since the 1994-95 strike, the consensus has been not to propose a hard cap, knowing it could lead to another long work stoppage. The current labor contract ends in December 2026.
Most teams were unable to compete for Soto.
“We have to be creative. We have to put the best 26 guys on a roster or the best 40 guys on a roster, not the best one or two,” said Kansas City manager Matt Quatraro. “I still think at the end of the day you have a chance to compete against those guys. Soto is going to hit four to five times a night. Those are impactful at-bats, but there’s other ways to combat that with a full 26-man roster.”
Soto, 26, helped Washington win the 2019 World Series and in 2022 rejected a $440 million, 15-year offer from the Nationals, who then traded him to San Diego.
“I can sit here and say that I’m the only manager that won a World Series with him,” said Nationals manager Dave Martinez. “How about that?”
San Diego traded Soto to the Yankees last December. “I’m not sure there’s anything we could do any different,” said Cashman. “Outside of winning the World Series, it played out perfect.”
With Aaron Judge, Soto helped the Yankees win their first AL pennant since 2009 before they lost to the Los Angeles Dodgers in the World Series. Boras asked for final offers Saturday night and expected them by the next morning.
“Hal Steinbrenner really stepped up to find a way to retain Juan Soto,” Cashman said. “He is one of one. He is a unique guy with a unique age.”
Boras called Cashman on Sunday night to inform him that Soto was signing with another team. Cashman then contacted Steinbrenner and team president Randy Levine to share the news.
Cashman said the Yankees had a Zoom meeting with pitcher Blake Snell before he agreed to a $182 million, five-year deal with the Dodgers. The GM is still interested in Boras’ other clients, including Burnes and Bregman.
“When you get a chance, give me a slot and we’ll talk about who’s remaining on the board,” Cashman said he told Boras during their Sunday night conversation.
