How the Yankees should interpret Scott Boras’ free-agent pitch for Juan Soto

SAN ANTONIO — Scott Boras spoke 41 words, but one would have sufficed: No.

The MLB agent’s response came after a question about whether star free-agent slugger Juan Soto would consider a heavily deferred contract similar to Shohei Ohtani’s 10-year, $700 million deal with the Los Angeles Dodgers last offseason. Ohtani’s current contract is valued at $460.8 million by MLB, with an average annual salary of $46.08 million for luxury tax purposes.

Ohtani’s ability to accept a $2 million annual salary stems from his massive endorsement income, which Sportico projected at $65 million per year in March. In contrast, Soto’s endorsement earnings are estimated at around $3 million annually. Should Soto end up in a long-term deal with a team like the New York Yankees, his endorsement income could rise, but it would still fall short of Ohtani’s staggering total — especially given Ohtani’s iconic status in Japan.

Ohtani’s contract structure allowed the Dodgers to sign key free agents and will continue benefiting them in the years ahead. However, Soto is unlikely to follow in Ohtani’s footsteps.

“I don’t think tax considerations are the focal point when you’re talking about a business opportunity where you can literally make billions by acquiring someone like him,” Boras said at MLB’s general managers’ meetings on Wednesday.

Brian Cashman said he spoke to Scott Boras yesterday about Juan Soto:

“We certainly have interest in retaining him and we’ll put our best foot forward there. That’ll lead to us signing him back or we’ll be forced to go in a different direction if we can’t” pic.twitter.com/a9dG7FbZfW

— Yankees Videos (@snyyankees) November 5, 2024

What this means is that if Yankees owner Hal Steinbrenner wants Soto back in pinstripes, he’ll need to pay up without expecting any significant breaks from Boras. At the end of the season, Soto made it clear that his free-agent decision isn’t solely about signing with the highest bidder. He’s looking for a team committed to sustainable winning, a factor that could tilt the balance in favor of the Yankees.

The Yankees may not have won a World Series since 2009, but it’s a safe bet that they’ll be playoff contenders each year when the team reports to spring training,

“This is about owner commitment,” Boras said. “It’s about demonstrating to Juan Soto that his goals of winning and winning consistently are going to be met, because that’s what makes the game enjoyable for him.”

Boras also stated that he’s been in frequent contact with Steinbrenner and described his relationship with the Yankees owner as “very good.” It’s widely expected that if the Yankees are to re-sign Soto, Steinbrenner will need to be as directly involved as he was two years ago when the team re-signed Aaron Judge. On Tuesday, Yankees general manager Brian Cashman said the club has not been informed about the opportunity to match any final offer when it comes time for Soto’s decision. One way for the Yankees to gain an advantage would be for Steinbrenner to constantly communicate with Boras, ensuring they understand how Soto’s market is evolving.

Boras added that Soto is eager to meet with other MLB owners face-to-face to gauge how he’s viewed across the league, making it clear that his free agency will be a “very thorough process.”

Steinbrenner has already met with Soto and expressed the organization’s commitment to retaining him. Soto has repeatedly said he enjoys playing for the Yankees and feels comfortable in New York. However, Boras noted that Soto has not indicated that the Yankees should be treated any differently from the other 29 teams.

“Juan knows who the Yankees are, and he’s certainly impressed and pleased,” Boras said. “He went to the World Series with them, which is a tremendous accomplishment. But to truly understand what ownership thinks and what the Yankees’ future plan is, any player in his situation would want to hear about that. And with the respect he has for the New York Yankees, I know he’s going to want to be very thorough in this process.”

Twenty-four years ago, Boras negotiated the richest contract in sports history at the time for his client, Alex Rodriguez, when he signed with the Texas Rangers. Boras now draws a parallel between Soto’s free agency and Rodriguez’s, noting that both were in their mid-20s, already established superstars and on track to become two of the greatest players in history.

The key difference, Boras stresses, is that Soto has already won a championship and proven himself in the most pressure-filled moments. Soto hit the pennant-clinching home run in Game 5 of the American League Championship Series against Cleveland and has posted impressive numbers in World Series play: four home runs, eight RBIs, and a .326 batting average in 12 career games.

Given these accomplishments, it would not be surprising if Boras holds out for a contract that could exceed Ohtani’s current value.

“You have the Mona Lisa of the museum,” Boras said. “You have the attraction. You also have a player who gives owners a better chance to win repeatedly. And when owners win repeatedly, revenues skyrocket.”

(Top photo of Scott Boras and Juan Soto at the World Series last month: Kevork Djansezian / Getty Images)