MLB Rumors: Juan Soto Declines Yankees' $21M Qualifying Offer amid Free-Agency Buzz

In the most predictable move of the MLB offseason thus far, Juan Soto will not be accepting the qualifying offer from the New York Yankees.

Per Jon Heyman of The New York Post, the four-time All-Star rejected the one-year, $21.05 million tender before Tuesday's 4 p.m. ET deadline passed.

Soto was one of 13 players who received a qualifying offer from their 2024 team. If a player accepts the offer, they sign a one-year deal with the club for a preset amount.

If the player rejects a qualifying offer and signs with another team, the player's previous club will receive a draft pick that is determined based on certain payroll criteria.

For example, a revenue-sharing team that loses a player who signs a contract worth at least $50 million receives a pick between the first round and competitive balance round A.

If the Yankees were to lose Soto, their compensation would be a pick after the fourth round because they were a team that exceeded the competitive balance tax threshold in 2024.

The only player to accept a qualifying offer so far is Nick Martinez of the Cincinnati Reds.

There was never any question Soto would turn down the one-year tender. He is expected to sign a deal that could end up being the richest in MLB history when you adjust for present-day value.

Shohei Ohtani's 10-year, $700 million contract with the Los Angeles Dodgers has a present-day value of roughly $460 million when accounting for the amount of deferred money he is owed.

Some estimates project Soto could sign for more than $600 million when he eventually picks a team. If there's no deferred money in his contract, that would be by far the richest deal in MLB history.

The current record for richest contract with no deferred money is Mike Trout's 13-year, $426.5 million deal with the Los Angeles Angels that was signed prior to the start of the 2019 season.

Soto, who turned 26 on Oct. 25, is a .285/.421/.532 career hitter in 936 games over six seasons. He hit .288/.419/.569 with 41 homers, 109 RBI and 128 runs scored for the Yankees in 2024.