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By Jon Paul Hoornstra
Contributing Sports Writer
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Wednesday's announcement that Juan Soto had passed his physical and officially signed a 15-year contract with the New York Mets was four years in the making.
When Steve Cohen purchased the team in Nov. 2020, it was widely viewed as just a matter of time before the billionaire owner began spending on free agents like he was playing Monopoly.
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Initially reported as a $765 million contract, the fine print emerged Wednesday as multiple reports told the story of a deal that could top out at a whopping $819.5 million.
More news: Juan Soto Contract Details Make Comparisons to Shohei Ohtani's Record Tricky
The $765 million base salary does not account for an opt-out clause after the 2029 season. If Soto exercises the opt-out, the Mets can void it by increasing Soto's annual salary from 2030-39 by $4 million, keeping him under contract for the full 15 years and $805 million.
That's not all.
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According to multiple reports Wednesday, Soto will receive a $500,000 bonus for winning the NL MVP award the first time, then a $1 million bonus for every MVP he wins after that.
If he opts out, stays with the Mets, and wins the National League MVP each of the next 15 years — an extreme longshot, but technically possible — Soto will make $819.5 million in the deal.
According to Jon Heyman of the New York Post, Soto's awards bonuses will also pay $350,000 for a second-place MVP finish and another $150,000 each time he places third through fifth in MVP voting.
Soto also gets a full no-trade clause and a number-22 jersey for the life of the deal.
Remarkably, it might not stand as the most lucrative contract in baseball history.
If Soto opts out of his contract in 2029, and the Mets choose not to void Soto's opt-out, he will become a free agent. In that case, Soto's current deal will top out at five years and $305 million.
More news: Why Juan Soto Chose the Mets: Former GM Sets Record Straight
Shohei Ohtani's 10-year, $700 million deal with the Los Angeles Dodgers would then stand as a record for total value — but not average annual value, by virtue of the deferred money ($68 million a year) in Ohtani's contract.
Soto will also get a $75 million signing bonus as part of the deal, and will be paid nearly $122 million in 2025 alone.
If Soto doesn't have a good tax preparer lined up already, at least he can afford one.
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