Yankees up their Juan Soto bid as free-agency sweepstakes reaches new phase - lulu

The Yankees upgraded their initial bid within the past couple of days to superstar free agent outfielder Juan Soto, perhaps improving their position in a sweepstakes that involves at least five big-market teams, according to people familiar with the situation. 

The incumbent Yankees are making clear their resolve to try to retain their top target, but they also understand that the well-watched derby is only in the middle innings. The situation remains fluid, and any of four or more other interested teams still has a chance to win the prize of the winter. 

The Yankees recently staged calls with star free agent starters Corbin Burnes and Max Fried, along with several other top available players, but remain almost solely focused on Soto and have not made offers to the pitchers, who might merely be part of the Yankees’ Plan B in case Soto goes to the Mets, Dodgers, Red Sox, Blue Jays or perhaps an unknown mystery team. 

The Yankees have upped their offer to Juan Soto.Jason Szenes / New York Post

The Soto derby appears to be into its second round of bidding, with those four teams (or more) still remaining in the game. Soto, 26, is seen as certain to set the record for contract value, and though no specific figures have surfaced, word is there are teams willing to exceed $600 million. 

Shohei Ohtani, the Dodgers’ two-way international superstar, holds the current record with his heavily deferred $700M deal, with a value pegged at somewhere around $450M due to 97 percent of the money being deferred interest-free. 

Soto is believed interested in a 15-year deal, which would take him into his 40s. Though a short deal at a super-high annual salary could make some sense, since he would still become a free agent again in his 20s, word is out that such a deal doesn’t interest him, especially since he’s expected to receive opt-outs in any long deal. 

The Yankees told Soto they are willing to include opt-outs as part of their package to the 26-year-old superstar, but that is unlikely to separate them, as multiple teams are expected to accede to that request. 

Hal Steinbrenner had a productive meeting with Juan Soto.Gabriella Bass

Soto’s meeting with the Yankees a week ago Monday went “very well” from Soto’s standpoint, according to folks briefed on the matter. There’s been a bit of skepticism about how aggressively the Yankees would bid, but they are making their intentions pretty clear now. 

Team owner Hal Steinbrenner attended the meeting and showed keen interest in bringing the star back to The Bronx, where he hit 41 home runs, posted a .989 OPS and finished third in MVP balloting this past season. Soto had at least four other meetings with club owners, all motivated to make the big splash of the winter. 

Though the Yankees have been publicly perceived as a favorite due to their incumbent status and MLB’s highest revenues, the other four teams known to be in the bidding are all motivated and attractive in their own right. 

Juan Soto and the Yankees reached the World Series in his lone season with the team.Charles Wenzelberg / New York Post

Mets owner Steve Cohen, who’s also made Soto his top priority, should give them a good chance to lure Soto across town, and the Red Sox, Jays and Dodgers also have been keenly interested. 

Boston tried to sell Soto on Fenway Park being the perfect ballpark for him and is said to have had a productive meeting as well. The Red Sox are trying to make a free agent splash after basically sitting out the past few winters and seeing their fortunes fall. 

The deep-pocketed Jays seem extremely interested, as well.

And the Dodgers remain the intriguing wild card in this competition. They’ve been seen as a long shot, due to their already stacked roster, and some other teams may discount them following the $182 million deal for Blake Snell.

Maybe they are a long shot, but they have a lot going for them, with baseball’s best roster and an ability to attract top talent, and there’s no word they’ve left this party yet.