Juan Soto's 'Historic' Asking Price Revealed; Will Yankees Retain Him?

Juan Soto is reportedly seeking a "historic" long-term contract of $700 million. Will the Yankees be able to retain him?

Oct 28, 2024; New York, New York, USA; New York Yankees outfielder Juan Soto (22) walks during the sixth inning against the Los Angeles Dodgers in game three of the 2024 MLB World Series at Yankee Stadium. Mandatory Credit: Brad Penner-Imagn Images / Brad Penner-Imagn Images

Now that the World Series is over, the New York Yankees must shift their focus to retaining superstar outfielder Juan Soto.

But as anticipated, re-signing Soto is going to be far from cheap as the 26-year-old is now a free agent for the first time in his career.

Although teams cannot talk dollar figures with free agent players until Monday, approximately five days after the World Series, MLB insider Jon Heyman of The New York Post reported that Soto is believed to be seeking a historic contract of $700 million or more.

According to Heyman, Soto is looking for a "solid $700 million" as opposed to the record-setting $700 million deal that Shohei Ohtani received from the World Series champion Los Angeles Dodgers, which has $680 million in deferred money for the next decade.

As Heyman also revealed, about 11 rival teams checked in on Soto to express their interest by Thursday morning. The Yankees were eliminated from the World Series in Game 5 the night before.

It should come as no surprise that Soto is going to be highly sought after on the open market given he is a generational talent and just had his 26th birthday on October 25.

Whether he gets $700 million or not, Soto would be the highest paid Yankee of all-time if they're able to retain him. Team captain Aaron Judge's $360 million deal and ace Gerrit Cole's $324 million contract are currently the two largest amounts the organization has dished out in their team's history.

But it remains to be seen whether the Yankees will set the market for Soto.

And when asked if he would give the Yankees a chance to match any external offer, this is what the star outfielder had to say following Game 5 of the World Series:

“The Yankees, I have open arms to let them come in and talk to me. I don’t have any doors closed. I’m going to keep all my doors open and whoever wants to come in and talks, we’re gonna have a good conversation.”

Soto, who is coming off a career-year with the Yankees, is going to land a massive long-term deal. Time will tell regarding whether he will stay in pinstripes, but the Yankees may have to exceed their limits in order to keep him in The Bronx for the forseeable future.