Although calls for Juan Soto to become the highest-paid player in MLB had been around even before his home run in the 10th inning of Game 5 of the ALCS for the New York Yankees landed in center row at Progressive Stadium, but it looks like that won’t happen. According to Brittany Ghiroli of The Athletic, Soto surpassing Shohei Ohtani’s $700 million contract in free agency “seems like a pipe dream” at this point. Ghiroli noted that it’s not impossible that Soto would be willing to take a large deferral in a deal. This is the approach Ohtani took in his contract with the Los Angeles Dodgers.

Juan Soto The Generational Hoodie

Ohtani’s deal is officially a 10-year, $700 million deal, but $680 million of that is being deferred until the contract expires. He will be paid $68 million annually from 2034 to 1943. The net present value of Ohtani’s contract as determined by MLB is $46 million per season. It remains the richest contract in MLB history by average annual salary, surpassing the $43.3 million mark set by Max Scherzer when he signed with the New York Mets in December 2021. Soto will almost certainly become the second-highest paid player in MLB by total value and average annual salary behind Ohtani this season. Mike Trout is currently the second highest paid player by total value with a 12-year, $426.5 million contract from the Los Angeles Angels.

Soto will turn 26 on October 25 and has had a great walking year in his first season with the Yankees. He set personal records with 8.1 FanGraphs wins above replacement, 41 home runs and 128 runs scored during the regular season. When you combine Soto’s age with the peak offensive level he reaches each year, it’s difficult to imagine him signing for less than $500 million. Even that number could be a starting point for negotiations.