Juan Soto turned down a 13-year, $350 million extension offer from the Washington Nationals before the MLB lockout, reports Enrique Rojas of ESPN — in a story where Soto confirms he received the offer.
Soto, 23, is arbitration-eligible in 2022, 2023, and 2024, and eligible to become a free agent after 2024 when he will be entering his age-26 season.
Per Bob Nightengale of USA Today, the Nationals’ extension offer to Soto did not contain any deferrals, which has been common in big-money deals offered by the Nats.
It remains to be seen whether Soto will ultimately reach free agency, but the Nats have lost a handful of their biggest stars in recent seasons.
Bryce Harper left via free agency to join the Philadelphia Phillies after the 2018 season, and Trea Turner and Max Scherzer were traded to the Los Angeles Dodgers at the 2021 deadline.
Scherzer was just months from free agency at the time of the trade, while Turner had one year of team control remaining beyond 2022.
When it comes the offer rejected by Soto, while a $350 million contract is significant, it is likely over $100 million lower — and perhaps as much as $150 million lower — than what Soto will get if he continues to produce as he has over his first four seasons and remains healthy before reaching free agency.
If Soto hits free agency, there will likely only be a handful of teams that are able to afford him, perhaps including the Mets, Yankees, Los Angeles Dodgers, and Boston Red Sox.