Juan Soto Rumors: Scott Boras Provides Huge Update on Former Padres Star's Free Agency

Maren Angus-Coombs | Dec 4, 2024

Oct 26, 2024; Los Angeles, California, USA; New York Yankees outfielder Juan Soto (22) hits a solo home run in the third inning against the Los Angeles Dodgers during game two of the 2024 MLB World Series at Dodger Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images / Jayne Kamin-Oncea-Imagn Images

The bidding war for former San Diego Padres outfielder Juan Soto reportedly has a floor of $600 million.

According to The Athletic, all remaining contenders have made offers above $600 million.

There have been a handful of teams reportedly in the mix for Soto but only five have offered him contracts — the Toronto Blue Jays, Los Angeles Dodgers, Boston Red Sox, New York Mets, and New York Yankees.

Agent Scott Boras stated on Tuesday at Dodger Stadium that Juan Soto has started narrowing down potential destinations, though he did not reveal which teams are being excluded.

“When you’re going through these things, he’s just got a lot of information to meld through,” Boras said Tuesday. “We’ve had meetings with a number of franchises. He’s begun the process of eliminating teams and doing things. Juan is a very methodical thinker, so we’ll see, but I don’t think anything is imminent in the near future.”

At 26, Soto is poised to sign a historic contract due to both his youth and his status as a once-in-a-generation offensive talent. His deal is expected to span at least 12 years, with its value likely surpassing the record set by Shohei Ohtani’s 10-year, $700 million contract with the Dodgers last offseason. For luxury tax purposes, Ohtani’s contract was valued at $460 million, with the players' union estimating it at $438 million.

Initial reports from the first round of Soto’s meetings suggested his free agency decision wouldn’t be solely focused on money. However, Jon Heyman of the New York Post made it clear on Monday that the decision will largely revolve around financial considerations.

“I think there’s a chance, but I think not likely,” Heyman said. “…In this case, we’re talking about guys who are going to have opt-outs. So, if you have opt-outs, that’s more evidence that you’re going to go for the biggest money because if you don’t like the place, you can then opt out, right? So, I think it’s very likely he would get the biggest deal that he’s offered. I wouldn’t say it’s a guarantee.”

Soto, in his debut season with the Yankees this past season, hit .288 and set a career-high with 41 home runs. His .989 OPS ranked third in the majors, behind only Aaron Judge and Shohei Ohtani, and he finished third in the American League MVP voting.