The most expensive free-agent derby in Major League Baseball history came to a thrilling conclusion on Sunday evening. Juan Soto, a prodigiously talented and charmingly theatrical slugger, agreed to a 15-year, $765 million contract with the New York Mets. This deal, which includes a $75 million signing bonus, ended a two-month-long process of visits, counter-offers, and a tense staredown between the two New York teams.

The Impact of the Deal

According to The Athletic’s Will Sammon, a league source revealed that the deal has no deferred money and includes an opt-out after the fifth season. The Mets have the option to void this by increasing Soto’s average salary to $55 million for the next 10 years. This sets a new paradigm for the sport, as Soto, at 26, surpassed Shohei Ohtani’s $700 million windfall from last offseason. His $51 million average annual salary is a new record.Soto entered this offseason as the No. 1 player on The Athletic’s Big Board and was projected to receive a 13-year, $611 million deal. However, a feverish round of negotiations involving the Boston Red Sox, Toronto Blue Jays, and Los Angeles Dodgers ultimately pitted the two New York teams against each other. Soto spurned a 16-year, $760 million offer from the Yankees to join the Mets.To put Soto’s bonanza in perspective, consider that the Fenway Sports Group purchased the Boston Red Sox for $700 million in 2002. Soto will receive more than twice the payday of former teammate Aaron Judge, who inked a 10-year, $360 million contract after the 2022 season. In 2025 alone, Soto will earn nearly $4 million more than the entire Athletics’ Opening Day payroll in 2022.After being traded twice in his career, Soto can now focus on polishing his Hall of Fame resume in Flushing. In his seven seasons in the majors, he has drawn comparisons to Ted Williams while amassing an impressive array of hardware. He is a four-time All-Star and a five-time Silver Slugger. At 20, he helped the Washington Nationals win the World Series, and a year later, he won the batting title. During his one season with the Yankees, he hit 41 homers with 109 RBI and a.989 OPS, delivering the Yankees to their first World Series since 2009.At the plate, Soto prides himself on his patience. Since his debut in 2018, he leads all hitters in on-base percentage (.421) and finished first in walks in 2021, 2022, and 2023. His plate appearances are filled with drama as he sneers at pitches, sliding through the batter’s box and staring at the pitcher with a mix of disdain or amusement. This gesture, known as the Soto Shuffle, often precedes hard contact.His patience served him well as he navigated his free agency. Two years ago, with the guidance of his agent Scott Boras, Soto made a wager on himself. In the summer of 2022, the Nationals offered him a 15-year, $440 million extension, which would have topped Mike Trout’s 12-year, $426.5 million extension with the Los Angeles Angels in total dollars but not average annual value. The franchise was struggling after winning the championship in 2019, and Soto did not want to commit the rest of his career to a last-place club.After rejecting the deal, Soto was traded. He spent the summer of 2022 and all of 2023 with the San Diego Padres. Looking to trim payroll for 2024, the Padres dealt Soto to the Yankees, where he proved to be an ideal complement to Aaron Judge, who won his second American League MVP in November. Soto finished third in the voting.Soto’s decision will have a significant impact. It will cause devastation in the Bronx and bring elation to Queens. The Yankees are expected to be aggressive in trying to replace him by upgrading their corner infield and outfield positions. However, the sting of his departure may take a long time to fade.For the Mets, Soto represents the latest splurge from owner Steve Cohen, who purchased the franchise from the Wilpon family after the 2020 season. Cohen, a hedge-fund titan, has financed the most expensive roster in the sport in each of the past three seasons. Although the Mets crashed out early in the 2022 postseason and did not play October baseball in 2023, a group led by Francisco Lindor showed the potential of the team’s core. And now, that core includes Juan Soto, thanks to the biggest contract in baseball history.(Photo of Soto: Harry How / Getty Images)