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

SAN ANTONIO, Texas – Scott Boras spoke 41 words, but one would have been enough: NO.

The MLB agent's response came following 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 contract with the Los Angeles Dodgers last offseason. Ohtani's current contract is valued by MLB at $460.8 million, with an average annual salary of $46.08 million for luxury tax purposes.

Ohtani's ability to accept a $2 million annual salary comes from his massive endorsement income Sportico projects at $65 million per year in March. In contrast, Soto's advertising revenue is estimated to be around $3 million per year. Should Soto sign a long-term deal with a team like the New York Yankees, his endorsement revenue could increase, but would still fall short of Ohtani's eye-popping total – especially given Ohtani's iconic status in Japan.

Ohtani's contract structure allowed the Dodgers to sign key free agents and will continue to benefit them for years to come. However, Soto is unlikely to follow in Ohtani's footsteps.

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

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

“We are definitely interested in keeping him and we will do our best there. That will result in us getting him back, or we will be forced to go in a different direction if we can’t.” pic.twitter.com/a9dG7FbZfW

— Yankees Videos (@snyyankees) November 5, 2024

That means that if Yankees owner Hal Steinbrenner wants Soto back in pinstripe jerseys, he'll have to pay for it without expecting any significant breaks from Boras. At the end of the season, Soto made it clear that his free agent decision wasn't just about signing with the highest bidder. He's looking for a team committed to consistent winning, a factor that could tip the scales in the Yankees' favor.

While the Yankees haven't won a World Series since 2009, it's safe to assume they'll be playoff contenders every year when the team reports to spring training.

“This is about ownership engagement,” Boras said. “It's about showing Juan Soto that his goals of winning and winning consistently are being achieved because that's what makes the game entertaining for him.”

Boras also said he is in frequent contact with Steinbrenner and described his relationship with the Yankees owner as “very good.” It's widely expected that if the Yankees want 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 had not been informed of the possibility of matching a final offer when it came time for Soto's decision. One way for the Yankees to gain an advantage would be for Steinbrenner to constantly communicate with Boras and make sure they understand how Soto's market is evolving.

Boras added that Soto is eager to meet face-to-face with other MLB owners to find out how he is 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 that he enjoys playing for the Yankees and feels comfortable in New York. However, Boras pointed out that Soto did not suggest that the Yankees should be treated differently than the other 29 teams.

“Juan knows who the Yankees are and he’s definitely impressed and pleased,” Boras said. “He went to the World Series with them, which is a tremendous accomplishment. But to truly understand what the owners are thinking and what the Yankees' future plans are, every player in his situation wants to hear about it. And given the respect he has for the New York Yankees, I know he wants to be very thorough in this process.”

24 years ago, Boras negotiated the richest contract in sports history 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 their way to becoming two of the greatest players in history.

The key difference, Boras points out, is that Soto has already won a championship and has proven himself in the most pressure-filled moments. Soto hit the game-winning 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 successes, it wouldn't be surprising to see Boras waiting for a contract that could exceed Ohtani's current value.

“You have the Mona Lisa of the museum,” Boras said. “You have the attraction. They also have a player who gives the owners a better chance of winning repeatedly. And when owners win repeatedly, revenue skyrockets.”

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