Breaking News: Sticker Shock is Overblown: Why the Juan Soto Deal Deserves Praise
The Red Sox may not have landed Juan Soto, but neither did the Yankees, and in this case, I think the Red Sox came out ahead. They didn’t endure the embarrassment the Yankees did, which I consider a win in itself. The larger story surrounding the trade is about the monumental contract Soto received — a 15-year deal worth $765 million with the Mets. While some people react negatively to such massive sums, I think this skepticism is misplaced. Specifically, I find the criticism from Jeff Passan and Buster Olney troubling. Their assumptions about baseball players’ worth and the obscene nature of a $50 million salary are flawed.
The first misconception is the belief that playing baseball is somehow less valuable than, say, being a corporate executive. This couldn’t be further from the truth. The world’s wealthiest individuals are rarely involved in sports, with notable exceptions like Steve Cohen, the owner of the Mets. He, along with owners of teams like the Dodgers and Padres, is bringing a new level of financial commitment to baseball, which is exactly what the sport needs. The second misconception is that anyone earning $50 million annually is an affront to social justice. While the conversation around income inequality is valid, this isn’t the forum for it.
If the Red Sox were seriously pursuing Soto, good for them. At least they didn’t have to face the kind of embarrassment the Yankees did in their pursuit. It’s clear that Cohen was always going to go all-in for Soto, regardless of the cost, and the Red Sox wisely held back when the price climbed over $700 million. The New York teams were in a position to keep escalating the bidding, and sometimes it’s better to bow out when the stakes get too high.
The Mets got Soto, which is, in my view, a good outcome. I’m surprised at the sticker shock some people are feeling because this deal seems like a prelude to even bigger contracts in the future. While there are Mets fans who feel Soto isn’t worth the money, the reality is that Cohen has vast financial resources and could afford to pay this price without risking his fortune. In terms of value, this deal makes sense because Soto, at 26, is one of the best players of his generation with remarkable skills. His 17 “black ink” marks on Baseball-Reference are a testament to his greatness, and comparisons to legends like Ted Williams are not unwarranted.
The Red Sox, meanwhile, might have had a chance to land Soto, especially given his connection to the Dominican Republic and the success of players like David Ortiz in Boston. But now that Soto is with the Mets, the Red Sox can focus on other opportunities. For instance, Max Fried is expected to get a $136 million deal, which, by comparison, looks like a bargain. While the Sox would have preferred to sign both Soto and Fried, the reality is that they now have a chance to make moves in a less crowded market. It’s a new chapter in their rebuilding process, and with the right decisions, they could still come out on top.