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Report: Soto signs record-breaking $31M arbitration deal with Yankees

San Diego Padres Juan Soto Juan Soto - The Canadian Press

Juan Soto has avoided arbitration with his new team in the New York Yankees, signing a record-breaking one-year, $31 million contract, according to Joel Sherman of the New York Post. 

Sherman notes that the deal is the largest in history for a one year arbitration-eligible player, passing Los Angeles Dodgers two-way player Shohei Ohtani, who made $30 million last season with the Los Angeles Angels

The Yankees acquired Soto, alongside outfielder Trent Grisham, from the San Diego Padres in exchange for right-handers Michael KingJhony Brito and Randy Vasquez, starting pitching prospect Drew Thorpe and catcher Kyle Higashioka.

Soto, a 25-year-old outfielder, hit . 275 with 35 home runs and 109 RBIs, alongside an .410 on-base percentage and a .519 slugging percentage over 162 games with the Padres in 2023. 

Over 779 career games with the Washington Nationals and Padres, the native of Santo Domingo, Dominican Republic is hitting .284 with 160 homers and 483 RBIs. 

The Yankees missed the postseason in 2023 with an 82-80 record.