Juan Soto, the Dominican professional baseball player, who might have just become the highest-paid player in baseball after a recent trade, his current contract surpassed Shohei Ohtani’s $30 million salary.
Let’s learn all the details about Juan Soto’s contract including his salary breakdown and other relevant details like incentives and bonuses.
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What Is Juan Soto’s Contract with The New York Yankees?
Juan Soto, the outfielder for the New York Yankees, has recently inked a record-setting $31 million salary contract for the 2024 season. This one-year contract with the Yankees was signed after Juan was traded to the Yankees from the San Diego Padres. Juan’s previous contract with San Diego guaranteed him $23 million for over a year. His check from MLB is a testament to his abilities and talent as an outfielder.
How Much Does Juan Soto Make in a Year?
According to his new contract deal, Juan Soto is set to make $31 million in the 2024 season. Of his $31 million one-year contract, he is guaranteed to make it all. His new contract was a record setting deal that broke Shohei Ohtani’s $30 million record set in the 2023 off-season.
However, his annual income is probably more than that if we factor in his endorsement deals, business ventures and investments.
Juan Soto’s Contract Bonuses and Incentives
Juan Soto’s current contract with the New York Yankees is quite straightforward and doesn’t include any reported incentives or bonuses. It’s a one-year deal for $31 million guaranteed, meaning he’ll receive a base salary of $31 million in 2024, with no additional performance-based compensation mentioned publicly. Here’s a breakdown of his recent contracts:
- 2024 (Yankees): 1 year, $31 million guaranteed
- 2023 (Padres): 1 year, $23 million guaranteed (reached through arbitration)
Juan Soto’s MLB Career Earnings
Juan Soto’s total earning from his professional baseball career in MLB is estimated to be over $50 million, and they are steadily growing Let’s break the math of his cumulative career earnings:
- 2015: $1,500,000
- 2018: $392,620
- 2019: $578,300
- 2020: $233,111
- 2021: $8,500,000
- 2022: $11,086,816
- 2023: $23,000,000
- 2024: $31,000,000
His total earnings from 2015 to 2024 are $51,304,031.
Juan Soto’s Net Worth as of 2024
In 2023, Juan Soto’s net worth was estimated to be $10 million, however, it is projected to reach $12 million by 2024. This increase in net worth is attributed to his current earnings, potential future contracts, endorsement deals, and investments.
Juan Soto’s net worth is also influenced by his performance on the field, which can lead to higher salaries and more lucrative endorsement deals.
Conclusion
This is Juan Soto’s last season before free agency, and he has already set the record with his $31 million one-year deal with the Yankees. His agent, Scott Boras, is known for ushering clients towards free agency, and Juan’s potential future earnings in free agency are speculated to be in the range of $520 million over the next 15 years, making him one of the highest-paid baseball players in the world.
