Juan Soto Sets New MLB Record As Yankees Dodge Arbitration
It was about a month after the 25-year-old outfielder left the San Diego Padres to sign a contract.
Overcoming the previous MLB arbitration record established by Shohei Ohtani, Juan Soto, and the New York Yankees have agreed on a historic one-year, $31 million agreement.
The Yankees’ financial difficulty in trying to secure the talented outfielder long-term before he enters free agency at the end of the 2024 season is hinted at by Soto’s record-breaking deal, which they got from the San Diego Padres in an offseason trade.
Juan Soto is the highest-paid MLB arbitrator on the list
Major League Baseball’s arbitration deadline occurred on Thursday, and it was a historic day as organizations and players who qualified for arbitration exchanged compensation information for the 2024 season.
Arbitration becomes a significant component in setting compensation for players with three to six years of MLB service time; if agreements cannot be reached, talks may result in third-party arbitration.
Ohtani’s $30 million compensation from the last season is expected to be surpassed by Juan Soto, who is a selected Super Two and has the option of going through arbitration four times.
As a result, Soto is now the most-paid player in MLB history when it comes to arbitration. The highest wages awarded in arbitration are:
- $31 million for Juan Soto, 2024 Yankees
- $30 million for Shohei Ohtani, 2023 Angels
- $27 million for Mookie Betts, 2020 Dodgers
- $26 million for Nolan Arenado, 2019 Rockies
With Juan Soto and Trent Grisham acquired from the Padres, the Yankees, anxious to add to their lineup, cemented their place as a competitive team for 2024.
Juan Soto concentrating on output in 2024
Soto was excited about the upcoming season and stressed his commitment to winning during the press conference when he was presented as a Yankee.
” Right now, getting to know the men and the squad is my first focus as I work to achieve their desired outcome.”
Juan Soto
About his post-2024 future, Soto maintained his composure, putting the needs of the club ahead of his contract discussions and entrusting his agent with the task.
“They are familiar with who to contact and where to get my contract material. Just playing baseball is why I’m here. Because I work with one of the top agents in the league, it won’t be too difficult.”
It remains to be seen if the Yankees, in the face of possible free-agent bidding wars, can win Soto over for the long haul.
