Everything’s been coming up New York Mets of late in the Juan Soto sweepstakes. The team’s meeting with Soto — notably, the only one that took place away from the headquarters of agent Scott Boras — seemed to go as well as it possibly could have, and everyone around the league seems to believe that owner Steve Cohen has no intention of losing a bidding war to anyone. The Mets have a competitive roster, the familiarity of New York and a bottomless Scrooge McDuck vault full of money, all the ingredients necessary to be considered the odds-on favorites.

All of which has been just about the worst-case scenario for their cross-town rivals, the New York Yankees. The Bronx Bombers need Soto just as desperately as the Mets do, and as each successive report made it seem like a move to Queens was inevitable, Yankees fans grew more and more anxious. After all the good vibes of last season, the richest franchise in the league was set to cheap out yet again, and to their little brother no less.

But it turns out that reports of the Yankees’ demise may have been greatly exaggerated. Just when the Yankees needed a big swing to turn the tide, owner Hal Steinbrenner appears to have delivered just that.

Yankees reportedly increase contract offer for Juan Soto

While the bidding for Soto is still in its preliminary stages, with teams submitting initial offers this week and negotiations ramping up ahead of the Winter Meetings in early December, the Yankees appear to be wasting no time making clear just how badly they want to bring back their All-Star outfielder. According to the New York Post’s Jon Heyman, New York has already “upgraded its initial offer within the past couple of days.”

“The incumbent Yankees are making clear their resolve to try to retain their top target,” Heyman writes, “but they also understand that the well-watched derby is only in the middle innings. The situation remains fluid, and any of four or more other interested teams still has a chance to win the prize of the winter.”

Heyman added that Cashman has also held introductory meetings with Max Fried and Corbin Burnes, as the team also eyes an upgrade to their rotation to pair with Gerrit Cole. It’s unclear whether that’s simply a plan B in the event that Soto moves on, or whether Steinbrenner is finally willing to truly break the bank to try and capture the team’s first World Series title since 2009. But the newfound aggression appears to be making an impression on Soto, and suggests that New York might be willing to match the Mets dollar-for-dollar if the bidding gets into the $700 million range.