Juan Soto signs the biggest contract in sport

The agreement between the Dominican and the Queens team exceeds the one signed last year by the Japanese Shohei Ohtani with the Los Angeles Dodgers ($700 million for ten years). This move has generated a significant stir in Major League Baseball, dividing opinions between those who consider it a bold financial move and those who warn that it could exacerbate competitive and economic inequalities in the league.

And who is Soto? Born in Santo Domingo 26 years ago, he came to the United States as a teenager to play for the Washington Nationals, who, after developing him in the minor leagues, made him debut in the MLB at just 19 years old, becoming the youngest in history. of the franchise. A year later, he was already one of the best hitters in the league and led his team to win the World Series for the first time.

After five seasons in Washington, he rejected a renewal offer of $440 million for ten years, convinced that his talent would allow him to secure a much more lucrative contract in the future. He wasn’t wrong. After two seasons with the San Diego Padres and a final season with the New York Yankees, he became a free agent, with complete freedom to choose his destiny. His current team offered him 760 million for 16 years, while the Boston Red Sox and the Toronto Blue Jays also presented ambitious proposals. However, none matched the stratospheric offer from Steve Cohen, the magnate who bought the Mets in 2020 and who is obsessed with achieving the franchise’s third World Series title, something they have not achieved since 1986. This signing not only promises sporting benefits , but also economic and media, such as an increase in attendance at Citi Field and in sales of official products.

This contract marks a before and after, not only for Soto, but also for the Major Leagues. Added to the annual average of $51 million is a signing bonus of $75 million, secured thanks to his status as a free agent. Despite his youth, the question is no longer whether he will reach the Hall of Fame, but rather whether his name will be compared to legends such as Willie Mays, Babe Ruth or Ted Williams.

Some have compared this signing to that of Alex Rodríguez, another baseball player of Dominican origin, who in 2001 signed with the Texas Rangers for $252 million, the largest contract of his time. However, that serves as a warning: the Rangers failed to build a competitive team around their star due to the financial limitations generated by the deal. Three years later, ‘A-Rod’ was traded to the Yankees without fulfilling his objectives.

The announcement of Soto’s signing, which has yet to be made official by the Mets, has generated criticism, especially among executives of other franchises. Small market teams, such as the Oakland Athletics or the Tampa Bay Rays, can hardly compete with this level of spending. This debate has reopened the discussion about the implementation of a salary cap in the MLB, similar to that in force in the NBA or the NFL. It is not unreasonable, considering that the league’s revenue last year exceeded $11 billion, surpassing that of the NBA and approaching the $18 billion generated by the NFL, the king of sports in the United States.

Soto has guaranteed his family’s financial future for generations, but he must shoulder enormous pressure. He is called to lead a franchise that has historically lived in the shadow of more prestigious teams. Of course, the contract includes a clause that requires the Mets to demonstrate concrete results after five years to guarantee its continuity. A textbook ‘win-win’.