Juan Soto Rumors: Yankees, Mets Increase Contract Offers into $710M-$730M Range

Both the New York Yankees and New York Mets have increased their offers to superstar slugger Juan Soto into the $710 million to $730 million range, according to the New York Post's Jon Heyman.

The two franchises remain part of a five-team battle for Soto as they work on offering him a contract in MLB record-setting territory.

Both bids surpass Shohei Ohtani's record-breaking $700 million deal. As of Saturday, the Mets' offer may be slightly higher than the Yankees, per Heyman, though "the respective offers appear to be within shouting distance."

The Boston Red Sox, Toronto Blue Jays and Los Angeles Dodgers are still very much in the running, with the possibility that they could surpass the New York teams in the bidding to land the 26-year-old, per Heyman.

The Red Sox and Blue Jays are also reported to have made highly competitive offers, while the Dodgers, despite not needing another superstar, surprised many by submitting a bid exceeding $600 million. According to Heyman, they are not as likely to land Soto as other destinations.

The Yankees have leverage by offering two-time MVP Aaron Judge as a teammate to Soto. However, the Mets remain strong contenders, especially after a successful meeting between Soto, Mets owner Steve Cohen and team president David Stearns, according to Heyman.

If Soto signs for exactly $720 million, it would be double Judge's previous record-setting $360 million deal, which was signed just two years ago, per Heyman.