Inside The Pinstripes

Yankees' Biggest Obstacle in Re-Signing Juan Soto Revealed

The New York Yankees have a serious obstacle ahead of them when it comes to the Juan Soto free agency sweepstakes.

Grant Young

Oct 26, 2024; Los Angeles, California, USA; New York Yankees outfielder Juan Soto (22) reacts after hitting a home run against the Los Angeles Dodgers in the third inning for game two of the 2024 MLB World Series at Dodger Stadium. Mandatory Credit: Kirby Lee-Imagn Images
Oct 26, 2024; Los Angeles, California, USA; New York Yankees outfielder Juan Soto (22) reacts after hitting a home run against the Los Angeles Dodgers in the third inning for game two of the 2024 MLB World Series at Dodger Stadium. Mandatory Credit: Kirby Lee-Imagn Images / Kirby Lee-Imagn Images
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The top priority for the New York Yankees this offseason is re-signing superstar slugger Juan Soto.

Considering how important Soto was to New York making it to the World Series this season, his return to the Bronx feels like something the Yankees can't afford to miss out on if they want to remain championship contenders in the coming years.

But it won't be easy. And a November 4 story from MLB.com Yankees reporter Bryan Hoch discussed what the biggest hurdle in bringing Soto back will likely be.

"The Yankees would love to bring Soto back, and they’ll likely make a competitive offer, but managing general partner Hal Steinbrenner has already said that the club’s 2024 payroll was 'unsustainable long-term,'" Hoch wrote. "Soto seemed to enjoy his year in pinstripes, but if he intends to score a record-setting deal (one report had his target at $700 million), chances are that the Yankees won’t have the top bid on the table."

The consensus among the baseball community is that Soto's signing decision will ultimately come down to money, and he doesn't seem keen to give the Yankees a hometown discount. Therefore, if New York's front office doesn't at least match the top offer Soto receives from another team, that might mean he won't be a Yankee anymore.

However, given what Soto means to the Yankees' success, Steinbrenner could backtrack on that initial payroll sentiment. Not to mention that, as Hoch alluded to, "[The Yankees] do have other money coming off the books. Hill, Holmes, Kahnle, Loáisiga, Rizzo, Torres, Trivino and Verdugo account for a total of more than $50 million in 2024 payroll that can be redistributed to fill needs."

This added money off the books could afford the Yankees flexibility in structuring Soto's contract. Time will tell whether that's what they'll decide to do with it.

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Grant Young
GRANT YOUNG

Grant Young covers the New York Yankees, the New York Mets, and Women’s Basketball for Sports Illustrated’s ‘On SI’ sites. He holds an MFA degree in creative writing from the University of San Francisco, where he also played Division 1 baseball for five years. He believes Mark Teixeira should have been a first ballot MLB Hall of Fame inductee.

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