New York Yankees owner Hal Steinbrenner made headlines this spring when he remarked that the team’s payroll is “not sustainable” long-term due to luxury-tax penalties. Since then, All-Star outfielder Juan Soto has had a standout season that could reset the market for position players this fall.
On the “Pinstripe Territory” podcast, ESPN MLB insider Buster Olney speculated that Steinbrenner might hope for a discount during negotiations with Soto’s camp once he becomes a free agent after the World Series.
“I do think, in the end, the Yankees are going to be outbid by somebody,” Olney said about Soto’s impending free agency. “I can’t see Hal going to nutty numbers and we don’t know if (New York Mets owner) Steve Cohen is going to do like he does with some of his art and just blow the competition out of the water.”
Soto has enjoyed his time with the Yankees since being traded from the San Diego Padres in December 2023. Some speculate that helping the Yankees win their first World Series since 2009 could lead him to accept a lower offer than what the Mets might provide, but indications suggest he intends to explore free agency.
As of Thursday, DraftKings Sportsbook listed the Yankees as second favorites at +400 odds to win this year’s World Series.
“We don’t know really what’s in Soto’s heart,” Olney explained. “Does he really want to stay with the Yankees, or, like a lot of players, and by the way, this is totally their prerogative, some players equate money for respect.”
ESPN’s Jorge Castillo recently reported that “the Mets loom as the Yankees’ strongest competition” for Soto, given Cohen’s significant resources and determination to win. It’s believed he might offer Soto a deal worth as much as $600 million over 12 years.
“I was told in spring training: That’s (the Mets’) guy,” Olney added regarding Soto. “Soto is the focus on what the Mets are going to try to do.”
Should the Yankees fail to reach the World Series, Steinbrenner might reconsider and offer Soto a blank check to remain with the team.
