Insider predicts the Yankees will “overbid” Juan Soto in free agency

The New York Yankees secured the American League East title as well as home-field advantage in the postseason.

However, once the 2024 playoffs conclude, all eyes will be on their superstar outfielder, Juan Soto, who will hit the free agent market for the first time in his career.

In May, Yankees managing partner Hal Steinbrenner told YES Network’s Jack Curry that the team intended to discuss a contract extension with Soto during the season. However, nothing ever materialized on that front and now Soto is set up for teams to potentially engage in a bidding war for his services.

While it’s hard to imagine Soto leaving the Yankees, where he’s had a career-long record ahead of AL MVP Aaron Judge, one MLB insider believes the Bronx Bombers will be outdone by another club.

“We don’t know what’s really in Soto’s heart – whether he really wants to stay with the Yankees or like many players, and by the way, it’s completely their prerogative, some players equate money with respect,” ESPN’s Buster Olney further said Streak Territory. “Is Soto looking to get a record number of dollars from one of these teams?

“And I really think that eventually someone will top the Yankees. I don’t see Hal (Steinbrenner) going crazy, and we don’t know if (New York Mets owner) Steve Cohen will do what he does with some of his stuff and just crush the competition. “

The Mets and Cohen appear to be the biggest threats to the Yankees in signing Soto to a long-term deal. Besides the cross-town rival, the Los Angeles Dodgers and Philadelphia Phillies are two other big-market clubs that could pay for the soon-to-be 26-year-old generational talent.

Soto is expected to sign a long-term deal worth more than $500 million. There’s no telling what the Yankees’ limit truly is, but if Soto can help them break their 15-year title drought, it could potentially impact how high they’re willing to go.