A report from November claimed that New York Mets owner Steve Cohen was "willing to go $50M over whatever" New York Yankees owner Hal Steinbrenner or other would-be buyers offered to sign Juan Soto in free agency.
It turns out Cohen didn't have to go quite that far to convince Soto to relocate from the Bronx to Queens before Christmas.
ESPN's Jeff Passan and others reported that the 15-year, $765M contract Soto will receive from the Mets once the agreement becomes official includes a $75M signing bonus, an opt-out after five years, no deferred money and a structure that could allow the deal to exceed $800M total. To compare, ESPN's Buster Olney shared that the Yankees' final offer was $760M over 16 years with an annual average value of $47.5M and no deferrals.
According to MLB insider Andy Martino of SNY, the Yankees "were in the lead for Soto all through the process, through the weekend and late [Sunday] afternoon" until Cohen closed the deal.
Agent Scott Boras previously said that Soto wanted "ownership that's going to support that they are going to win annually," and it appears Cohen sold the All-Star outfielder on a vision that includes team president of baseball operations David Stearns building upon what he achieved in his first year with the organization that ended with the Mets completing a trip to the National League Championship Series.
"One thing that Juan Soto articulated to David Stearns and Steve Cohen throughout this process is that he did believe in Cohen.
— SNY (@SNYtv) December 9, 2024
Steve Cohen 'The Salesman' and not just Steve Cohen 'The Checkbook' helped seal this deal late."
- @martinonyc pic.twitter.com/JJUCtE4PzW
"The Mets' meeting with Soto in November, people briefed on the matter said, happened in California at one of Cohen’s homes. That was different," The Athletic's Will Sammon reported after the Soto-Mets news broke. "All of Soto’s other meetings with different clubs were held at a hotel. ... Soto’s get-together with the Mets shared commonalities from previous meetings with high-profile free agents, where pieces of Cohen’s personality poured out into the process. In past meetings, according to people briefed on the discussions, Cohen told free agents that he views his ownership as a civic duty. He’s in it to win for the long haul, he says. He’s looking to do what it takes to build a perennial winner."
Of course, it doesn't hurt that Cohen is the richest owner in MLB who is both able and willing to give a 26-year-old phenom a historic contract. According to Sammon and others from The Athletic, Soto also "felt the energy at Citi Field" during his previous visits to Queens while with the Yankees and other clubs.
Juan Soto's bat works everywhere. His numbers at Citi Field, though, are something else. In 35 career games at Citi Field (146 plate appearances), Soto has a 1.175 OPS with 12 home runs, including two of the five longest home runs in the stadium’s history (466 feet, 463 feet).
— Will Sammon (@WillSammon) December 9, 2024
Bob Klapisch of NJ Advance Media reported Monday morning that "Steinbrenner came within $5M of" Cohen and "upped his offer by a whopping $100M in just the last few days" in an attempt to persuade Soto to commit his long-term future to the Yankees.
"The Yankees believed they could convince Soto to re-sign as long as they were competitive with Cohen," Klapisch added. "They didn’t necessarily have to outbid the Mets, just get close enough to show Soto they meant business."
Steinbrenner and others within the Yankees were wrong, and they'll now have to live with Soto representing the Mets for the foreseeable future.
Mike Puma of the New York Post and others noted that the Mets need more than just Soto as they attempt to compete with the reigning World Series champion Los Angeles Dodgers. Many fans will still want Cohen to re-sign beloved first baseman Pete Alonso. The Amazins could use an ace after Kodai Senga missed almost all of this past season because of injury setbacks.
Cohen showed he's all-in on winning via the Soto deal. Time will tell if Stearns can work his magic for a second straight offseason.
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