Juan Soto's Desired Contract Figures Revealed; Can Yankees Retain Him?

Juan Soto's desired asking price has been revealed. Will the New York Yankees be able to re-sign him?

Jul 3, 2024; Bronx, New York, USA; New York Yankees right fielder Juan Soto (22) at Yankee Stadium. Mandatory Credit: Wendell Cruz-USA TODAY Sports / Wendell Cruz-USA TODAY Sports

NEW YORK - This shouldn't come as much of a surprise.

New York Yankees superstar outfielder Juan Soto is set to become a free agent after the 2024 season concludes, and he is a generational talent.

For that, the 25-year-old will be earning a massive pay day on the open market this winter. In fact, MLB insider Jon Heyman of The New York Post reported that Soto will be in the hunt for $500 million plus, and "likely even $600 million."

That is a substantial price tag, but Soto has been one of the best two-way sluggers in the game of baseball since coming up in 2018 with the Washington Nationals.

The Yankees acquired the young phenom from the San Diego Padres in a blockbuster trade during 2023 Winter Meetings, which saw New York's top pitching prospect Drew Thorpe and righty swing-man Michael King as the main center pieces in the deal.

Now, the Yankees have made it clear that they want to retain Soto, who is slashing .297/.432/.560 with a .992 OPS, 22 home runs and 64 RBIs in 91 games in his first season in the Bronx. Soto is playing through a right hand injury as of late, proving he is a total gamer as he is trying to help his struggling team turnaround their recent 7-18 rut across the past 25 games.

Back in May, managing partner Hal Steinbrenner told YES Network insider Jack Curry that the Yankees intended on approaching Soto about an extension during the season. But as Heyman revealed, this is unlikely to come to fruition.

Soto is expected to be highly sought after in free agency by the Yankees, cross-town rival Mets, Los Angeles Dodgers and Philadelphia Phillies. The pressure will be on once he hits the open market, and the Yankees would not be able to live it down if billionaire owner Steve Cohen lured Soto away to Queens.