The New York Mets signed Juan Soto to a record-breaking contract and formally introduced the four-time All-Star during a press conference at Citi Field on Thursday afternoon.
Soto decided on signing with the Mets amid a group of finalists that also included the Boston Red Sox, Los Angeles Dodgers, Toronto Blue Jays and incumbent New York Yankees.
“This is a seminal moment in franchise history,” Mets Owners Steve and Alex Cohen said in a statement. “Juan Soto is a generational talent. He is not only bringing staggering historical statistics with him but also a championship pedigree. Our Amazin’ fan base is very excited to welcome Juan to Queens. Congratulations, Juan.”
Mets president of baseball operations David Stearns added: “Today’s signing further solidifies our organizational commitment to consistent championship competitiveness. 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.”
Although the Dodgers were among the teams to meet with Soto and make a contract offer, it’s not believed they were among his most serious suitors.
Did Juan Soto’s contract break Shohei Ohtani’s record?
On Dec. 11, 2023, the Dodgers signed Ohtani to a 10-year, $700 million contract that represented the biggest contract in MLB history and largest deal in professional sports. It surpassed Lionel Messi’s four-year, $674 million contract he signed with FC Barcelona in 2017.
Ohtani’s Dodgers contract also broke the record for richest MLB contract, which had been the $426.5 million deal Mike Trout signed with the Los Angeles Angels.
On the surface, Soto’s new contract breaks Ohtani’s record as the biggest in sports history. It includes a full no-trade clause and $75 million signing bonus, in addition to various perks such as security for family members, suite at Citi Field and premium tickets.
Soto’s contract also affords him the opportunity to opt out after the 2029 season. Should he do so, then Soto would technically fall short of breaking Ohtani’s contract record. If Soto declines to opt out and see the lifetime of the deal through, it would officially set a new record.
Another path to achieving that status is if the Mets increase the average annual value (AAV) of the final 10 years of Soto’s contract from $51 million to $55 million.
Doing so would bring the total value of the contract to $805 million over 15 years, equating a $53.66 million AAV.
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