Rishabh Pant became the most expensive cricketer in Indian Premier League history when he was sold for 27 billion rupees (approximately $3.1 million) at this year’s IPL auction. But Pant’s contract pales in comparison to the one signed by baseball star Juan Soto earlier this week, which will see the southpaw slugger earn more than $50 million annually over the next 15 years.
Soto, considered the best hitter in Major League Baseball, reportedly signed a 15-year, $765 million contract with the New York Mets, which translates to an average annual value (AAV) of $51 million. equivalent to dollars. That number could reach up to $805 million if he declines the available opt-out in 2029 (translating to an AAV of $55 million for the remainder of his contract). The total includes a huge signing bonus of $75 million.
Soto’s contract is the largest and longest ever in baseball, or any professional sports league. Here are four reasons why he earned a contract like this.
01
Sportster’s new common sense
Although Soto’s contract is the largest in terms of cumulative sums paid over the term, it still pales in comparison to the annual figures of Cristiano Ronaldo, Lionel Messi, Karim Benzema and Neymar. The year of swan songs.
For example, Ronaldo reportedly earns $260 million a year playing for Al Nasr in the Saudi Professional League, with most of that money going to image rights and commercial deals with the Saudi state. . In Major League Soccer, Forbes estimates that Leo Messi’s annual salary, including his official MLS salary and contracts with Apple and Adidas, could be around $135 million.
In the NBA, Stephen Curry, Jaylen Brown, and soon Jayson Tatum will collect more than $60 million annually. Tatum’s “supermax” contract will net him $315 million over five years, which is better than Soto’s average contract. The bottom line is that sports contracts have gotten bigger over time because sports have become a more lucrative business than ever before.
What makes Soto’s contract unique is its length and the guaranteed money he will receive. There are baseball-specific reasons involved here.
02
Talent representing the 26-year-old generation
Under MLB’s contract system, players are typically paid the league minimum for three years after their debut ($740,000 in 2024), followed by three years of arbitration, during which players and their clubs negotiate salaries. This is more than the rookie minimum, but typically less than what players can earn on the free market.
This means players will be eligible for big contracts just six years after their debut. Considering the age at which most MLB players enter the league, they are usually in their late 20s or even early 30s when they receive their big contracts.
However, Soto is only 26 years old. The Dominican Republic-born baseball prodigy, who debuted with the Washington Nationals at age 19, is consistently in the top 10 in MLB’s MVP race. Soto’s age allows the Mets to not only achieve immediate wins, but also long-term success as a club.
This is certainly the kind of headline-making deal that Mets owner Steve Cohen has been trying to pull off for the past four years.
03
MLB’s richest owner
Historically, the New York Mets have been a mediocre team, living in the shadow of the legendary New York Yankees. Cohen, who became the owner of the Mets in 2020, has been trying to change this status quo in New York baseball.
While teams courting Soto met with the superstar at California hotels during free agency, Cohen called for a meeting at his Beverly Hills mansion. For baseball’s richest owner, with a net worth of $21.3 billion, according to Forbes, it was an act of gamesmanship and an attempt to give Soto pitches that suited him.
According to The Athletic, Soto himself wanted to get closer to the owners of the clubs he played for. While playing for the Yankees during the 2024 season, he witnessed how close the team’s multiple MVP star Aaron Judge was to owner Hal Steinbrenner. Soto reportedly wanted similar status and may have ultimately been forced to move from the Bronx to Queens, even though two teams in New York offered similar contracts. . (The Yankees reportedly offered Soto a 16-year, $760 million offer.)
Soto’s choice ignited a conflict in a city that was never really one. “The Yankees are the Yankees, and I respect that,” Cohen told USA Today. “This isn’t about Yankees vs. Mets. It’s about competing for players. We can both be in New York. There’s plenty of space.”
04
long-term baseball contract
What makes Soto’s contract truly huge is its length. Also, for top batters in baseball, long-term contracts are common, although the annual amount is lower than in other sports.
For teams, such offers help reduce overall annual expenses and keep the club within MLB’s lax salary limits. (The league does not have a salary cap, but has a progressive tax structure where teams must pay higher amounts to the league if their total salary exceeds a certain threshold). By paying players $300 million over 10 years instead of $180 million over four years, teams reduce their overall salary budgets. This also allows clubs to build a more rounded team by investing in multiple players rather than one individual.
For athletes, such contracts provide more guaranteed money than most other sports allow. And given that most top players are underpaid in their first few years, being overcompensated late in their contracts as players age could help recoup some of that lost money. Masu.
That said, top baseball players generally have longer lifespans than most other sports players, meaning teams are also willing to offer longer contracts to lock up talent long-term. .
