New York Mets Win Juan Soto Sweepstakes on Historic $765 Million Deal

The New York Mets have signed superstar outfielder Juan Soto to a historic 15-year, $765 million contract.

Oct 26, 2024; Los Angeles, California, USA; New York Yankees outfielder Juan Soto (22) celebrates after hitting a solo home run in the third inning against the Los Angeles Dodgers during game two of the 2024 MLB World Series at Dodger Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images / Jayne Kamin-Oncea-Imagn Images

DALLAS - On the eve of MLB Winter Meetings, the New York Mets have come out victorious in the Juan Soto sweepstakes.

The Mets have signed Soto, the free agent superstar outfielder, to the largest contract in sports history: 15-years, $765 million. The deal includes an opt-out after the fifth season and a $75 million signing bonus. There is no deferred money in the contract.

The New York Post's Jon Heyman and SNY's Andy Martino were the first to report on the agreement and contract figures.

Regarding Soto's opt-out, the Mets can void it after year-five if they increase the AAV from $51 million to $55 million for the final 10 years, according to ESPN's Jorge Castillo. This would make the total value of the contract a whopping $805 million.

Soto's deal shatters the previous record set by Shohei Ohtani's 10-year, $700 million contract with the Los Angeles Dodgers, which is heavily deferred.

The Mets ultimately won the bidding war against the cross-town rival New York Yankees, who offered 16-years, $760 million, per Heyman.

In the end, Soto opted to switch boroughs for a record-setting $51 million AAV as opposed to $47.5 million AAV to stick with the Yankees.

After being dealt by the San Diego Padres via trade last December, Soto spent one lone season with the Yankees, where he led them to their first World Series appearance since 2009.

Soto had a career year with a .988 OPS, 41 home runs (career-best) and 109 RBIs batting in front of AL MVP winner Aaron Judge. The 26-year-old's clutch three-run homer in Game 5 of the ALCS sealed the AL pennant for the Yankees.

However, Soto is now heading to Queens to play with NL MVP runner-up Francisco Lindor, rising star Mark Vientos and others for the foreseeable future.

In a season that was supposed to be a transition year for the Mets, the team was just two wins away from meeting the Yankees in the World Series. This clearly caught Soto's eye given the success the Mets had in president of baseball operations David Stearns' first year with the club.