Mets Owner Demonstrates Commitment to Reinvention with Juan Soto’s $765 Million Contract Deal

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Steve Cohen, the owner of the New York Mets, sees owning the team as a philanthropic endeavor, prioritizing making fans happy over costs. This mindset led to outfielder Juan Soto signing a record-breaking contract of $765 million over 15 years with the Mets, with no deferred payments. Despite paying high taxes in New York, Soto can still earn more through opt-out clauses and salary increases. Cohen’s willingness to pay luxury taxes shows his commitment to acquiring top players. Since buying the team in 2022, Cohen has been one of the most profligate owners in baseball, with the Mets holding the largest payroll since 2023. Although spending does not guarantee championships, Cohen’s approach seems to be paying off with Soto’s contract. Despite competitive offers from the New York Yankees, Soto chose the Mets due to their stability and potential for success. Soto’s youth and potential led to him commanding a massive contract, taking advantage of a year lacking in other top free agents. It is expected that other star players, like Vladimir Guerrero Jr., may surpass Soto’s contract in the future. MLB’s lack of a salary cap allows for these massive contracts to continue, making baseball the leader in huge player deals. Cohen’s commitment to spending on top talent gives the Mets a competitive edge and sets them up for potential success in the future.

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