Juan Soto hoping to sign bigger contract than Shohei Ohtani?

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 once infamously turned down a $440 million contract offer from the Washington Nationals. The 25-year-old outfielder is making $31 million in his final season of arbitration, and he is set to finally hit free agency after the season.

And just how much money might Soto get? Possibly more than $500 million.

The Athletic’s Britt Ghiroli wrote a piece about Soto that was published on Wednesday. The story explored Soto’s career and contract situation.

Ghiroli reported in her story that many people in the industry believe the bidding for Soto will start at $500 million. One person was quoted in the story as saying they believe Soto will want the type of money Shohei Ohtani received, minus the deferrals.

Ohtani signed a 10-year, $700 million deal with the Los Angeles Dodgers that contained a tremendous amount of deferrals. So much money was deferred by Ohtani that the present-day value of his contract was calculated at $460 million, giving him an average annual value of $46 million. That average annual value may be what Soto is looking to top.

Soto is on his third team already despite not yet hitting free agency. The Padres acquired him in a 2022 trade deadline deal as they pushed to make a deep postseason run. After having a disappointing 2023 season, the Padres dealt Soto to the Yankees. New York acquired Soto despite knowing he had plans to test free agency after the season.

Soto is off to a strong start with the Yankees. He’s batting .345 and the team is 6-1 through seven games.

Soto debuted in MLB in 2018 with the Washington Nationals. He won the 2019 World Series with the team and has had four top-10 NL MVP finishes.