The Los Angeles Dodgers made a splash in the 2023 offseason by spending a record-breaking amount, estimated to be over $1.2 billion. Their first move was signing Shohei Ohtani to a 10-year $700 million contract with deferred payments to ease the payroll impact.
They also added Yoshinobu Yamamoto, a pitcher from Japan for over $375 million, including bonuses and fees. Teoscar Hernández came on board with a one-year deal of $23.5 million, while Tyler Glasnow received a four-year extension, worth $136.5 million after being acquired through a trade. These acquisitions along with signings pushed the Dodgers’ projected luxury tax payroll to $282 million. That’s well above the league’s threshold.
Despite their spending spree, the Los Angeles Dodgers are still in the running for Juan Soto. But the signing won’t be possible without maneuvering on their part. Luckily, they have a farm system stocked with prospects that could entice the Washington Nationals in potential trade deals. Also, Ohtani’s payments provide some breathing room and options to release veterans with expiring contracts for added flexibility.
To avoid surpassing the tax threshold and facing penalties, the Dodgers must manage their payroll meticulously. If the Dodgers want to secure another contract like Soto, it could strain their finances further especially considering they already have a lineup and Soto may not be their top priority.
So how does this impact the New York Yankees?
The Dodgers’ involvement in the bidding war for Juan Soto might drive up costs for the Yankees. This could lead to adjustments in their offer or the inclusion of prospects to secure Soto’s services.
While the Yankees are seen as favorites to sign an extension with him, several other teams also have both the means and motivation to compete for this talent.
Looking Beyond New York: Potential Destinations for Juan Soto
1. New York Mets: With owner Steve Cohen’s deep pockets and key contracts expiring after 2024 (such as Max Scherzer and Justin Verlander), the Mets could have room to offer a deal to Soto.
2. Philadelphia Phillies: Known for their aggressive approach, the Phillies have shown interest in Soto previously. The question remains whether they can outbid major market rivals.
3. Boston Red Sox: They are always a team to keep an eye on during free agency. However, given their struggles and the presence of Rafael Devers, a young hitter, at third base, they bring an element of unpredictability.
4. Seattle Mariners: They might not be the team that comes to mind when thinking about contenders because the Mariners haven’t seen playoff action since 2001. Yet, with a rising young core and ownership’s dedication to success, they could see Soto as the missing piece for a competitive lineup and could make a significant offer.
The competition for Juan Soto’s talents is shaping up to be quite interesting with these landing spots in play. The question remains–which team will emerge as a winner in securing this superstar player? Only time holds the answer.
