How the Yankees should interpret Scott Boras’ free-agent pitch to Juan Soto
SAN ANTONIO – Scott Boras spoke 41 words, but one would have been enough: No.
The MLB agent’s response came after a question about whether star free-agent slugger Juan Soto would consider a heavily deferred contract similar to Shohei Ohtani’s 10-year, $700 million deal with the Los Angeles Dodgers last season. Ohtani’s current contract is valued by MLB at $460.8 million, with an average annual salary of $46.08 million for luxury tax purposes.
Ohtani’s ability to accept a $2 million annual salary stems from his massive endorsement income Sportico projected at $65 million annually in March. In contrast, Soto’s earnings are estimated at about $3 million per year. Should Soto sign a long-term deal with a team like the New York Yankees, his endorsement income could increase, but it would still fall short of Ohtani’s staggering total – especially considering Ohtani’s iconic status in Japan.
Ohtani’s contract structure allowed the Dodgers to sign key free agents and will continue to benefit them for years to come. However, Soto is unlikely to follow in Ohtani’s footsteps.
“I don’t think tax considerations are central when you’re talking about a business opportunity where you can literally make billions by acquiring someone like him,” Boras said Wednesday at MLB’s general manager meetings.
Brian Cashman said he spoke to Scott Boras yesterday about Juan Soto:
“We certainly have an interest in keeping him and we will put our best foot forward. That will lead to us re-signing him, otherwise we will be forced to go in a different direction if we cannot.” pic.twitter.com/a9dG7FbZfW
— Yankees Videos (@snyyankees) November 5, 2024
What this means is that if Yankees owner Hal Steinbrenner wants Soto back in pinstripes, he will have to pay up without expecting any significant break from Boras. At the end of the season, Soto made it clear that his decision as a free agent is not just about signing with the highest bidder. He’s looking for a team committed to sustainable winning, a factor that could tip the balance in the Yankees’ favor.
The Yankees may not have won a World Series since 2009, but it’s a safe bet they’ll be playoff contenders every year the team reports for spring training.
“This is about owner involvement,” Boras said. “It’s about showing Juan Soto that his goals of winning and winning consistently will be achieved because that’s what makes the game fun for him.”
Boras also stated that he has been in regular contact with Steinbrenner and described his relationship with the Yankees owner as “very good.” It is widely expected that if the Yankees want to re-sign Soto, Steinbrenner will have to be as directly involved as he was two years ago when the team re-signed Aaron Judge. On Tuesday, Yankees general manager Brian Cashman said the club has not been informed of the possibility of matching a final offer when the time comes for Soto’s decision. One way for the Yankees to gain an advantage would be for Steinbrenner to continually communicate with Boras so they understand how Soto’s market is evolving.
Boras added that Soto would like to meet with other MLB owners in person to gauge how he is perceived around the league, making it clear that his free agency will be a “very thorough process.”
Steinbrenner has already met with Soto and expressed the organization’s commitment to retaining him. Soto has said repeatedly that he enjoys playing for the Yankees and feels comfortable in New York. However, Boras noted that Soto has not indicated that the Yankees should be treated differently than the other 29 teams.
“Juan knows who the Yankees are, and he’s certainly impressed and pleased,” Boras said. “He went to the World Series with them, which is a great achievement. But to really understand what the owner is thinking and what the Yankees’ plan is for the future, every player in his situation would want to hear about it. And with the respect he has for the New York Yankees, I know he will want to be very thorough in this process.”
Twenty-four years ago, Boras negotiated the richest contract in sports history for his client Alex Rodriguez at the time when he signed with the Texas Rangers. Boras is now drawing a parallel between Soto’s free agency and Rodriguez’s, noting that both were in their mid-20s, already established superstars and on their way to becoming two of the greatest players in history.
The main difference, Boras points out, is that Soto has already won a championship and proven himself in the most pressured moments. Soto hit the pennant-clinching home run in Game 5 of the American League Championship Series against Cleveland and has posted impressive numbers in World Series play: four home runs, eight RBIs and a .326 batting average in 12 career games.
Given these performances, it wouldn’t be surprising to see Boras hold on to a contract that could exceed Ohtani’s current value.
“You have the museum’s Mona Lisa,” Boras said. “You have the attraction. You also have a player who gives owners a better chance of winning repeatedly. And when owners win repeatedly, revenues skyrocket.”
(Top photo of Scott Boras and Juan Soto during the World Series last month: Kevork Djansezian / Getty Images)
