Juan Soto Bidding ‘Expected To Hit $700 Million Mark’ As Sweepstakes Nears End

The Juan Soto sweepstakes could conclude at any given moment. Over the next three or four days, it’s expected to be made public where Soto is signing in free agency, but as for now, the negotiations continue.

Last week, reports began indicating that each of the five teams remaining in the bidding — the Los Angeles Dodgers, New York Mets, New York Yankees, Boston Red Sox, and Toronto Blue Jays — has issued offers of at least $600 million.

According to Jon Heyman of the New York Post, the bidding has flown past the $600 million mark and it’s expected to approach the record-breaking $700 million mark.

“Bidding in the Juan Soto Derby is expected to hit baseball’s magic $700 million mark, with the heated competition that still pits five big-market teams and includes the Mets and incumbent Yankees nearing a historic end,” Heyman wrote. “At least four teams — Mets, Yankees, Red Sox, and Blue Jays — are thought to be at least in range of that record MLB figure, previously attained by only international superstar Shohei Ohtani. Ohtani’s World Champion Dodgers, interestingly enough, are one of five finalists believed behind in the bidding (but apparently not eliminated due to other obvious positives).”

The fact that this free agency sweepstakes is approaching the historic $700 million mark without deferred money is amazing. Personally, I believe the sweepstakes will reach the $700 mark, as I recently projected Soto to sign a 15-year, $700 million deal with the Yankees.

If it doesn’t reach $700 million, it’ll end in the $650 million to $680 million range. But if a team gives Soto 15 years, which they may need to do to get him, his contract value will begin with a seven.

The Dodgers could still swoop in and steal him on a front-loaded contract with opt-outs that’s worth less than $700 million. Only time will tell.

More MLB: Where Will $700 Million Yankees Free Agent Juan Soto Sign In Coming Days?