Juan Soto, Yankees Agree to Historic Deal to Avoid Arbitration

Soto and the Yankees avoided arbitration with a record-setting deal.

The New York Yankees and star outfielder Juan Soto managed to avoid arbitration after agreeing to a record-setting one-year contract ahead of Thursday’s deadline.

Soto will collect $31 million during the 2024 season, his first year with the Yankees, breaking the record for the largest salary given to an arbitration eligible player in league history, according to ESPN’s Jeff Passan. 

The previous record was set last offseason by Shohei Ohtani, who penned a $30 million deal ahead of his final season with the Los Angeles Angels.

Soto, who was traded to New York by the San Diego Padres in a blockbuster deal this offseason, is entering his final year of arbitration and will hit unrestricted free agency after the ‘24 campaign, unless he signs an extension with the Yankees.

Last year with the Padres, Soto, 25, featured in all 162 games and registered a .930 OPS. He led MLB with 132 walks and added 35 home runs and 109 RBI across what was another strong season. 

He’s been rewarded for his excellent play with a historic one-year deal, and he’ll look to continue putting up league-best numbers heading into his contract year before hitting free agency for the first time in his career.