Steve Cohen's Mets land Juan Soto

Reaching — and winning — the World Series is all that matters to Steve Cohen. That goal has been abundantly clear since Cohen first purchased the New York Mets in late 2020. When one of the world’s thirty richest people buys the team they grew up rooting for, there’s little reason to think that willingness to spend big to shape the club into a contender isn’t real.

The Mets have continually proven that Cohen’s deep pockets will not hold them back.

Cohen’s Mets have committed $1.7 billion to free agents over the last five offseasons. Add in the $341 million extension Francisco Lindor signed and that’s more than $2 billion in spending. The club’s Opening Day payroll in each of the last two seasons exceeded $300 million, more than any other team in baseball.

The spending hasn’t resulted in a championship, leaving no question that Cohen isn’t satisfied.

Numerous media members predicted Juan Soto would sign with the Mets this offseason, with each assuming that Cohen’s deep pockets would play a significant role. Those predictions became reality late Sunday when news began to circulate that the two sides had reached an agreement on what was reported as a 15-year, $756 million contract.

The figure sets a new record for the largest contract ever given to a professional athlete, topping the $700 million deal Shohei Ohtani signed a year ago (which came in at $460M in “present-day value” once the deferred payments were factored in).

At 15 years, this is also the longest contract given out in MLB history. The prior high was the 14-year contract extension given to Fernando Tatis Jr. by the Padres.

Soto’s deal with the Mets reportedly includes a $75M signing bonus and will pay him $51M each year through the first five seasons. Soto can opt out of the remaining contract at that point, but the Mets can void the opt-out decision by increasing the annual value of the remaining 10 years to $55M. The deal really amounts to a 15-year, $805M contract if we assume the Mets will want to retain him in five years.

None of that money will be deferred. Soto will also receive a full no-trade clause.

Jon Heyman of the New York Post reports that the Yankees offered Soto a 16-year, $760M ($47.5M AAV) contract. MassLive’s Sean McAdam relays that the Red Sox offered Soto 15 years and $700M ($46.67M AAV).

Soto’s trip through free agency has been highly anticipated since he turned down an extension offer from the Washington Nationals midway through the 2022 season. That offer — 15 years and $440M — would have set a record at the time but was reportedly heavily backloaded over the final six seasons. Soto rejected the offer, in part due to the uncertainty surrounding Washington’s ownership status (the Lerners have since taken the club off the market), and the Nationals traded him to San Diego just weeks later.

Padres owner Peter Seidler was eager to extend Soto but passed away before a deal could be reached. Without Seidler’s push to get a deal done, the club elected instead to move Soto this past offseason in a trade with the Yankees (one year ago Sunday and less than a month after Seidler’s passing). Yankees GM Brian Cashman would admit at the time that he knew the team might only be getting one season with Soto but it was still a gamble worth taking.

Soto’s single season with the Yankees proved to be fruitful. He slashed .288/.419/.569 on the year, with 41 home runs, 109 RBI, and an AL-leading 128 runs scored. Soto set career-high marks in hits, runs, homers, and total bases while winning a Silver Slugger Award and finishing third in MVP Award voting.

He then added a 16-for-49 (.326) showing in the postseason, with four more homers, as the Yankees reached the World Series.

It is easy to forget that Soto has only been in the majors for seven seasons. He’s won five Silver Slugger Awards, a batting title, and went to four All-Star Games (plus won the Home Run Derby once). A .285/.421/.532 career hitter, Soto has been one of the most accomplished offensive threats ever at his age (having just turned 26 in late October).

• Soto is one of nine players to hit at least 200 home runs through age 25. Seven of the others (Mike Trout is still active) would top the 500-homer mark in their careers.

• Soto’s 769 career unintentional walks are the most by a player through age 25 by a substantial margin. Mickey Mantle is next on the list at 670.

• Soto has walked in 18.8% of his (4,088 career) plate appearances. Only Ted Williams (18.9%) was better.

• Since his debut, Soto’s .421 on-base percentage is the best in baseball.

• Soto has accumulated 36.4 bWAR through age 25, which ranks 17th all-time. Every name on the list ahead of him except for Albert Pujols, Alex Rodriguez, Trout, and Andruw Jones are in the Hall of Fame.

Juan Soto is a generational talent at the plate and he will instantly boost the Mets chances at contending this season. Moreover, Steve Cohen’s deep pockets and desire to win mean the Mets aren’t done this winter. There will be more additions by this team.

Of course, Soto’s agreement to join the Mets means that the Yankees, Red Sox, Blue Jays, Dodgers, and others will all shift focus to addressing needs and adding offense. New York, especially, will need to address how to fill a substantial hole in their lineup now that Soto will not be returning next season to continue hitting in front of AL MVP Aaron Judge.