Juan Soto wants a $700 million contract in free agency?

Feb 25, 2024; Tampa, Florida, USA; New York Yankees left fielder Juan Soto (22) smiles in the dugout against the Toronto Blue Jays at George M. Steinbrenner Field. Mandatory Credit: Kim Klement Neitzel-USA TODAY Sports

Juan Soto’s free agent asking price seemingly keeps going up.

MLB teams believe Soto will be looking for as much as $700 million on his free agent contract, according to Jon Heyman of the New York Post. Soto could also be looking for as much as 14 years on the deal, which could make him the first player in MLB history to earn $50 million a year without any deferred money involved.

Heyman adds that as many as 11 teams had already checked in to register interest with Soto’s camp by Thursday morning, just hours after the New York Yankees were beaten by the Los Angeles Dodgers in the World Series. Notably, two of those teams are thought to be small market clubs, suggesting interest in Soto will be widespread and not limited to big-budget teams.

Previous reports had indicated that Soto would be eyeing at least $500 million, but that was before a postseason that did nothing to hurt his value. He hit .327 with four home runs during the Yankees’ playoff run, and was arguably the team’s most consistent offensive performer outside of Giancarlo Stanton. He did not give much of a hint about his future after the team’s Game 5 loss, saying that he would give every club a fair shake on the open market.

The Yankees and New York Mets are still viewed as the favorites to land Soto due to their spending power, with the Dodgers a potential factor as well. The Yankees, having had him for a season already, may have some key advantages even if the outfielder hits the open market.