New York Yankees Give Slugger Record-Breaking Arbitration Deal

The New York Yankees ensured that Juan Soto will hold at least one contractual record for the 2024 season.

The New York Yankees reportedly made outfielder Juan Soto the highest-paid arbitration-eligible player in history with a one-year deal for 2024 worth $31 million, per MLB.com.

The deal beats the record set by Shohei Ohtani last season, when he and the Los Angeles Angels agreed to a one-year, $30 million deal in his final arbitration season.

The arbitration deal does not preclude the Yankees from getting a long-term deal done with Soto, who is a free-agent after the 2024 season.

Soto’s deal loomed large as the Yankees had until Thursday to reach arbitration deals with its remaining players. Entering Thursday evening there was just one reported, the $860,000 contract agreed to with pitcher Victor Gonzalez, per the Post. That changed quickly and by Thursday night the Yankees agreed to terms with all of their eligible players.

Perhaps getting something done with Soto was the high priority. It would be hard to blame the Yankees.

Soto has been in the Top 10 of MVP voting four times, including a sixth-place finish in the National League in 2023. He earned those votes after he batted .275/.410/.519/.930 with 35 home runs and 109 RBI. He also went to the All-Star Game for the third time and played in every game of a season for the first time in his career.

Another third-year arbitration player, infielder Gleyber Torres, agreed to a one-year deal with the Yankees worth $14.2 million, per the New York Post.

Two other outfielders the Yankees traded for — Alex Verdugo and Trent Grisham — also agreed to deals. 

Verdugo agreed to a reported $8.7 million per The Post, while Grisham and the Yankees agreed to a $5.5 million deal per FanSided.

Catcher Jose Trevino also had a reported deal of $2.73 million per the Post. 

Pitcher Clay Holmes settled for a reported $6 million plus incentives and pitcher Nestor Cortes settled at $3.95 million, both per MLB.com.

The remaining arbitration players that agreed to deals were pitchers Clarke Schmidt and Jonathan Loaisiga.