Juan Soto has signed a historic 15-year, $765 million contract with the New York Mets, marking the largest deal in MLB history. The announcement came just before the Major League Baseball's Winter Meetings.

The New York Yankees narrowly missed securing Soto, offering $760 million over 16 years. Other contenders included the Toronto Blue Jays, Los Angeles Dodgers, and Boston Red Sox. Last season with the Yankees, Soto impressed with a .288 batting average, 41 home runs, 109 RBIs, and a .989 OPS.

Mets owner Steve Cohen, who purchased the team in 2020 for $2.4 billion, personally pursued Soto. The contract includes features such as an opt-out clause, a signing bonus, and no deferred money. Cohen met with Soto at his California home in November, where he shared his vision for the team and commitment to building a lasting winner.

The signing has significantly impacted MLB betting odds. BetMGM now lists the Mets as second favorites for the World Series at +700, behind only the Dodgers (+350). The Atlanta Braves (+800), Yankees (+900), and Philadelphia Phillies (+1200) round out the top contenders.

This development particularly affects the Toronto Blue Jays, who now face additional pressure regarding Vladimir Guerrero Jr.'s future contract negotiations. Guerrero, who hit 30 home runs with a .323 batting average last season, has one year remaining under team control. The Blue Jays, who finished last in the AL East (74-88), now sit at +6600 odds to win the World Series.

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