CHICAGO, IL - SEPTEMBER 30: San Diego Padres left fielder Juan Soto (22) during a Major League Baseball game between the San Diego Padres and the Chicago White Sox on September 30, 2023 at Guaranteed Rate Field in Chicago, IL.
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MLB Insider Weighs in on Yankees' Chances of Signing Juan Soto to Extension

The New York Yankees made one of this winter's biggest splashes by completing a trade with the San Diego Padres for outfielder Juan Soto. Will he stay in the Bronx beyond 2024, though?

Soto, a Scott Boras client, is set to hit free agency once the upcoming season is over. Despite being just 25 years old, the left-handed hitter is already one of baseball's brightest and best stars. He's been to three All-Star Games while also winning a batting title, four Silver Slugger Awards, and the 2019 World Series with the Washington Nationals.

The Yankees will be paying Soto $31 million to play for them in 2024. If they'd like to keep him in the pinstripes beyond that, it'll take quite a bit more money. Before getting dealt at the 2022 trade deadline, Soto rejected a 15-year, $440 million extension proposal from the Nationals. Based on his age and performance, his next contract could surpass the $500 million mark.

What are the chances New York can get a deal done before he becomes a free agent? Not all that likely, according to a report from's Mark Feinsand. He shared an article on February 9 discussing the top candidates to get a long-term extension. Here's what he said about Soto's situation with the Bombers:

"The Yankees made a big deal to acquire Soto this offseason, and while it wouldn't be a surprise to see the three-time All-Star spend the next decade in the Bronx, it seems like a stretch to believe an extension is in the cards," Feinsand said. "Soto will be targeting one of the biggest free-agent deals in history, and even if the Yankees choose to engage in extension talks, the slugger and his agent, Scott Boras, are unlikely to offer any discounts prior to free agency."

Even in his introductory press conference with the New York media back in December, one of the first questions he had to deflect was about his long-term contract status. "They know where to call and who to talk to," he said, referring to Boras, according to ESPN's David Schoenfield. "I'm here just to play baseball."

Soto has had to deal with these questions for a couple of seasons now, so it's nothing new for him. Having to do it while playing in a major media market like New York will make it a little different, though.

MORE: Recent Yankees Trade Won't Get in Way of Their Juan Soto Pursuit