Juan Soto Rumors: Padres Contract Extension 'Long Shot' amid Yankees Trade Buzz

The San Diego Padres aren't giving up hope about signing Juan Soto to a long-term extension, but it seems more likely the three-time All-Star will be playing for a different organization when the 2024 season begins.

Per ESPN's Jeff Passan, an extension for Soto in San Diego is considered "a long shot" amid rumors the New York Yankees are interested in acquiring him.

SNY.tv's Andy Martino reported on Wednesday the Padres and Yankees were exchanging names on a potential deal for Soto, but an agreement was not considered close.

Given how much discussion there has been around the Padres' finances and wanting to cut payroll, it's hard to imagine a scenario in which they offer Soto enough money to convince him to sign an extension.

Soto reportedly turned down a $440 million extension offer from the Washington Nationals in the summer of 2022, which prompted the team to trade him to the Padres.

When the Padres acquired Soto and Josh Bell from the Nationals, they gave up six players in the deal. C.J. Abrams was a top-10 prospect and MacKenzie Gore was in the top 100 going into that season. San Diego also included Robert Hassell III and James Wood, who were also top 100 prospects at the time of the deal.

One of the biggest reasons the Padres had to give up such a significant prospect haul is because they were acquiring Soto with more than two years of team control remaining.

Now that the Padres appear to be shopping Soto with just one year of team control remaining before he can become a free agent, it's unlikely they will get back anything close to the value they sent to Washington.

Passan noted the Yankees are a fit for the Padres because they have the "major league-ready pitching the Padres desire and a farm system deep enough to whet San Diego's appetite for a deal."

New York is also a fit for Soto because its lineup badly needs another impact hitter. The Bronx Bombers finished tied for 24th with the San Francisco Giants in weighted on-base average and 25th in runs scored last season.

Soto hit .275/.410/.519 with 35 homers and 109 RBI in 162 games during the 2023 campaign. He has posted on-base percentage totals over .400 in each of his six MLB seasons and has slugged at least .500 five times during that span.