Is this the biggest sports contract ever? Juan Soto signs record $765 million contract with New York Mets

Juan Soto, the talented outfielder and four-time MLB All-Star, has made headlines by signing a historic 15-year contract worth $765 million with the New York Mets. This deal, which was reported on December 8, 2024, is now recognized as the largest contract in Major League Baseball history, surpassing the previous record held by Shohei Ohtani.

Key Details of the Contract

1. Record-Breaking Amount: Soto’s contract is notable not just for its sheer size but also for its implications for player salaries in baseball. The $765 million deal includes a $75 million signing bonus, contributing to an average annual salary of approximately $51 million.
2. Opt-Out Clause: The contract features an opt-out option after five seasons, allowing Soto to potentially re-enter free agency at the age of 31. If he chooses to opt out, it could lead to an increase in the total value of the contract up to $800 million depending on negotiations with the Mets.
3. No Deferred Money: Unlike some other large contracts that include deferred payments, Soto’s deal does not have any deferred money, meaning he will receive the full amount as outlined without reductions over time.
4. Historical Context: This contract not only sets a new benchmark in MLB but also highlights Soto’s status as one of the premier talents in baseball today. After being traded to the Yankees from the San Diego Padres, he had a standout season in 2024, hitting a career-high 41 home runs and contributing significantly in the postseason.
5. Franchise Impact: The Mets’ owner, Steve Cohen, has demonstrated a willingness to invest heavily in talent, previously spending over $341 million on his roster for the 2024 season alone. This latest acquisition underscores his commitment to building a competitive team.

Comparison with Other Major Contracts
MLB Contracts:

• Shohei Ohtani: Signed a 10-year, $700 million contract with the Los Angeles Dodgers in 2023. Ohtani’s AAV is higher at $70 million, but his deal includes deferred salary, which adjusts its effective value.
• Mike Trout: Previously held the record with a 10-year, $426.5 million contract with the Los Angeles Angels.
• Other notable contracts include Mookie Betts ($365 million), Aaron Judge ($360 million), and Manny Machado ($350 million).

NFL Contracts:

• Patrick Mahomes: Holds the record for the largest NFL contract at $450 million over 10 years, signed in 2020. This contract was groundbreaking at the time but is significantly lower than Soto’s total value.
• Dak Prescott: Received a four-year deal worth $240 million, making him one of the highest-paid players annually at about $60 million per year.

NBA Contracts:
In basketball, LeBron James has a contract worth around $50.7 million annually, but NBA contracts typically have maximum limits that prevent them from reaching the heights seen in MLB.

The highest NBA contracts are often around $200-300 million for five years, which is substantially less than Soto’s total.As teams continue to compete for top talent, this contract may influence future negotiations and contracts across the league.