All you need to know about Juan Soto's $765 Million contract with the New York Mets

Juan Soto is known not only for his amazing talent in the field but also for his negotiation skills. The talented hitter made news by signing the biggest contract in the history of MLB: a whopping $765 Million deal for 15 years with none other than the New York Mets!Why is this contract so special? What benefits will Soto get from the contract? Here are all the insider details from the historic contract.During the bidding hour, Juan Soto was the priority for two teams: the Yankees and Mets. While the Yankees offered a 16-year contract to Soto, amounting to $760 Million, the Mets increased their offer to a 15-year contract worth $765 Million.Even after offering a huge amount, Steve Cohen, the Mets owner, was still in doubt. However, all of his doubts were put to rest when Scott Boras (Juan Soto’s manager) contacted him regarding the player’s final decision to join the Mets. The contract was signed on December 8, 2024.As per the contract, Juan will be getting $75 Million as a signing bonus from the New York Mets. Apart from that, there’s no deferred amount in the contract, meaning Soto will get the entire $765 Million, which further breaks down to an annual salary of $46.87 Million. Interestingly, there’s also a smart opt-out option designed for Soto, where the player can opt out after the 2029 season. In this case, the Mets can override the opt-out by adding an extra $4 Million per year to Soto’s contract, which will total his contract to $805 Million.The record-breaking contract also contains tons of perks and incentives for the star outfielder. As per the terms, Soto will receive $500,000 when he wins the MVP title, followed by $1 Million for every MVP title afterward. For every All-Star selection, Juan will receive $100,000; $350,000 on winning World Series MVP, $100,000 on winning the Golden Glove, $150,000 for Silver Slugger win, $100,000 on receiving the Hank Aaron award, and $150,000 on winning LCS MVP. Also Read: Juan Soto’s $765M deal will not guarantee the New York Mets a title as former slugger warns Steve Cohen