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Thursday, December 12, 2024

Juan Soto sweepstakes has unexpected new contender

With New York Yankees star Juan Soto exploring MLB free agency this offseason, several teams have reportedly already expressed interest in pursuing a long-term contract with the Dominican Republic native. According to Jon Heyman of the New York Post, even the Tampa Bay Rays—a team not typically known for high-budget moves—have reached out about Soto.

Heyman of the New York Post reported that several major teams—including the New York Yankees, New York Mets, Los Angeles Dodgers, Toronto Blue Jays, Boston Red Sox, and San Francisco Giants—have reached out to Juan Soto’s camp about a potential contract, which could be valued close to $700 million.

Just hearing the Rays mentioned as potential contenders for Soto will likely raise eyebrows, as few expect them to make a serious bid for the top free agent on the market. Historically conservative with big contracts, the Rays did, however, attempt to land a star free agent in the past, reportedly offering Freddie Freeman a deal around $150 million before he ultimately signed with the Dodgers.

While the Rays’ offer for Freeman wasn’t far from what he ultimately received, any proposal for Soto would be on an entirely different level. Soto is expected to surpass $500 million easily, with projections suggesting he could land a deal in the $600 to $700 million range.

Soto’s contract is expected to be one of the biggest in MLB history, likely trailing only Shohei Ohtani’s monumental 10-year, $700 million deal with the Los Angeles Dodgers.

The Tampa Bay Rays joining the Juan Soto sweepstakes

Juan Soto sweepstakes has unexpected new contender
Brad Penner-Imagn Images

Though the Rays likely don’t view themselves as strong contenders for Soto, their interest hints that they have some budget flexibility to explore mid-tier free agency options. They started last season with a payroll close to $98 million, according to Cot’s Baseball Contracts, and currently have just under $40 million in guaranteed commitments for next year—assuming Wander Franco remains on the restricted list without pay.

The Rays’ arbitration class is estimated at around $25 million, but they could bring that closer to $15 million by making a few non-tenders. Additionally, trading either Brandon Lowe or Yandy Díaz would free up another $10.5 million or $10 million, respectively.

That doesn’t mean the Rays pose a serious challenge to the major-market teams pursuing Soto. However, they may surprise fans with their free agency activity, considering their usual conservative spending.

A mid-tier signing, similar to the $40 million deal they offered Zach Eflin two offseasons back, could be possible. Their free agency plans are further complicated by the uncertainty surrounding their stadium situation after Hurricane Milton caused significant damage to Tropicana Field.

Some big market teams pursuing Soto

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The remaining teams interested in Soto come as no surprise. The Yankees and Mets are largely seen as front-runners, while the Dodgers tend to explore nearly every top free agent. With reports suggesting Mookie Betts may shift back to the middle infield, there’s bound to be increased chatter around the Dodgers pursuing Soto.

Soto delivered an outstanding season for the Yankees, playing a pivotal role in their run to the World Series, where they ultimately fell to the Dodgers in five games.

He posted impressive stats in the regular season, with 41 home runs, 128 runs scored, 109 RBIs, a .989 OPS, a 178 OPS+, and a 7.9 WAR. His performance put him in strong contention for his first MVP award, though teammate Aaron Judge ultimately outshone him in the race.

The Rays may rank as a distant seventh in the Soto sweepstakes, but their inclusion on the list of potential suitors is significant. It’s more than what 23 other MLB teams can claim in the early stages of free agency.

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