Yankees, Juan Soto agree to historic deal for 2024 season ahead of free agency: reports

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If Juan Soto wants to break Shohei Ohtani's record for the largest contract in sports, he's off to a good start.

Ohtani inked a $700 million deal with the Los Angeles Dodgers last month, but in his final year of arbitration, he made $30 million.

However, Soto and his new squad, the New York Yankees, avoided arbitration by agreeing on a reported $31 million salary. That is now the most money ever given to a player that was arbitration-eligible.

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Juan Soto of the San Diego Padres grimaces after hitting a fly ball in the first inning against the Baltimore Orioles on August 15, 2023, at Petco Park in San Diego. (Denis Poroy/Getty Images)

Several years ago, many thought that Soto would be the first player in MLB history to sign a deal worth at least $500 million, but Ohtani lived up to his billing as the Japanese Babe Ruth, won two MVPs in three years, and took that title.

However, Soto is slated to be a free agent at season's end at the ripe age of 26. So, it's very possible he could join Ohtani in the $500 million club (or more).

And with his age, he very well could sign the longest deal ever. That title currently belongs to Fernando Tatis Jr. with his 14-year pact he signed before the 2021 season, worth $340 million.

The Yankees acquired Soto from the San Diego Padres, who seem to be in the midst of major salary dumps following the death of owner Peter Seidler. They also have Manny Machado and Xander Bogaerts signed to deals worth $350 million and $280 million, respectively.

Juan Soto flips his bat after a home run.

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