"'The Man Who Made Otani into a Dwarf'', the history Soto wrote is $765 million without a dipper...Up to $805 million
Dec 09, 2024
|
|
It was the largest single contract in the history of North American professional sports as well as Major League Baseball. Ohtani, who changed the history of the sport 'money', reigned for a year as the first '700 million man'.
The main character of the history has changed again. On December 9, 2024, Juan Soto, considered the biggest FA fish of all time, agreed to a contract with the New York Mets as a condition for an astronomical amount of money.
ESPN reporter Jeff Bankruptcy said on the 9th that Superstar outfielder Juan Soto and the New York Mets agreed to a 15-year, 765 million-dollar contract with an average annual salary (AAV) of 51 million dollars. 'The largest contract in professional sports history' reported that there is no deferred payment in this contract, and the total amount could increase by up to $800 million with escalator provisions set.
MLB.com gave more details. The Sinning Bonus is $75 million, and it has given it the right to exercise the opt-out at the end of five seasons. However, if the Mets increase their average annual salary (AAV) from $51 million to $55 million after five seasons, that is, after the 2029 season, a clause was added that the right to opt out could be extinguished. In that case, the total amount of the 15-year contract will increase to $805 million and AAV 53.66 million.
|
|
In the case of Ohtani, the present value is much lower than Soto's contract because he will receive $680 million, or 97.1% of the total, over 10 years after 2034, when the contract term ends. It is $461 million for luxury tax and $438 million for ML players' union calculation.
In AAV, the face value is $51 million for Soto and $70 million for Ohtani, which is less than Soto, but in AAV, which is based on the current price, Soto is $51 million and Ohtani is $46.1 million, which is ahead of Soto. In other words, Soto made an unprecedented record in total and AAV.
MLB.com commented that `Otani's 10-year $700 million contract will be tied to 97 percent of the total amount through a grace period, lowering the current price to $461 million.' `Soto's contract dwarfs it and every other deal in MLB history'
The Soto scramble was simply 'money war'. According to MLB.com , Mets owner Steve Cohen offered conditions beyond the reach of the Los Angeles Dodgers, Toronto Blue Jays, and Boston Red Sox as well as the New York Yankees. The Yankees' conditions were 760 million dollars for 16 years. The contract is a year long, but the total amount is $5 million less than the Mets. There was not much room for Soto to worry about.
|
However, as most big market clubs, including the Yankees and Mets, Toronto, Boston, and Dodgers, participated in the scramble, the ransom rose exponentially. It was reported that it had already exceeded the mid-$600 million mark in the middle of last month, and the forecast rose to $700 million → $750 million → $800 million in December.
In addition to the five clubs that negotiated to the final stage, small market clubs such as the Kansas City Royals and Tampa Bay Rays reportedly asked Soto about the conditions.
Soto chose the Mets because he bet the highest amount. If the winning record was the most important criterion, he might have remained with the Yankees.
Soto was offered a 15-year, $440 million contract in July 2022, when he was with the Washington Nationals, but he immediately refused and traded to San Diego. Then, while discussing an extension contract after the end of last year's season, the negotiations fizzled and were traded to the Yankees because San Diego owner Peter Seidler passed away. After making career-high performances with 41 home runs, 109 RBIs, and 128 points this season, Soto, who became a `Freedom Body" has increased his ransom by more than $300 million in two years.
|
This article was translated by Naver AI translator.
