Juan Soto has agreed to a record-breaking 15-year, $765 million contract with the New York Mets, surpassing all previous MLB contracts. The announcement came on the eve of Major League Baseball's Winter Meetings.

The New York Yankees, Soto's former team, narrowly missed securing the star right fielder with their bid of $760 million over 16 years. Last season with the Yankees, Soto posted impressive stats: .288 batting average, 41 home runs, 109 RBIs, and a .989 OPS.

Other teams in pursuit included the Toronto Blue Jays, Los Angeles Dodgers, and Boston Red Sox. Mets owner Steve Cohen, who acquired the team in 2020 for $2.4 billion, had reportedly committed to outbidding any competing offers.

The contract includes features such as an opt-out clause, a signing bonus, and no deferred money. According to The Athletic, Cohen personally met with Soto at his California home in November, expressing his vision for building a perennial winner and viewing team ownership as a civic duty.

The signing has significantly impacted betting odds. BetMGM now lists the Mets as second favorites to win the World Series at +700, behind only the Dodgers (+350). The Atlanta Braves (+800), Yankees (+900), and Philadelphia Phillies (+1200) round out the top five.

For the Toronto Blue Jays, this marks another significant miss after losing out on Shohei Ohtani last winter. The team now faces contract decisions with Vladimir Guerrero Jr. and Bo Bichette, both entering their final year of team control. The Blue Jays, who finished last in the AL East (74-88) last season, currently sit at +6600 odds to win the World Series.

Guerrero, who hit 30 home runs with a .323 batting average, 103 RBIs, and a .940 OPS last season, may now command an even higher price following Soto's record-breaking deal.

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