Getty Insider predicts Yankees offer will fall short of $600 million.

The New York Yankees goal this offseason was to re-sign Juan Soto, but it appears that won’t be the case.

Soto is the top free agent available and could reach $700 million. However, according to MLB insider Randy Miller of NJ.com reports the Yankees offer will top out at $550 million.

“I’m hearing the Yankees will probably top out in the $550 (million) range,” Miller said. “I believe Soto has two and maybe three offers already over $600 (million). I haven’t confirmed that, but that’s what I believe.”

If the Yankees’ offer is indeed in the $550 million range as Miller reports, it won’t be enough to get the star outfielder to re-sign.

Miller also reports that there are several offers over $600 million, which should rule the Yankees out from re-signing him. He also claims the Boston Red Sox’s offer to Soto is concerning to New York.

“I’m hearing the Yankees fear the Red Sox more than anyone,” Miller said “I think the Mets are definitely in play and the Red Sox are in play. And I don’t think he’s going to the Yankees.”

Insider Claims Yankees Have Upped Their Offer

Although Miller claims the Yankees aren’t going past $550 million for Soto, fellow MLB insider Lee Hamilton disagreed.

Hamilton claimed the Yankees’ offer to Soto was for $41 million per season with opt-outs.

“I was told the Yankees have upped their offer for Juan Soto,” Hamilton said. “I was told the offer is $41 million per year. Which pays him more than Aaron Judge got. I was also told the Yankees have considered Soto’s request to include opt-out clauses in his contract after the fifth year, sixth year, and seventh year. Moreover, if Soto wants to test free agency at age 31, he could always opt-out after the fifth year.”

Regardless of where Soto signs, he will have multiple opt-outs in his deal.

Soto is a four-time All-Star. Last season with New York, he hit .288 with 41 home runs and 109 RBIs.

Yankees Want to Re-Sign Soto

New York is focused on re-signing Soto in free agency.

The team met with Soto and Scott Boras in California and Yankees owner Hal Steinbrenner said the goal is to re-sign him.

“Our fans really enjoyed having him in New York,” Steinbrenner said. “He’s definitely a significant part of why we got to the World Series. I’ve got ears. I know what’s expected of me. So, look, it’s been a priority. We wouldn’t have gone out to the West Coast if it wasn’t.”

Even if the Yankees don’t re-sign Soto, Steinbrenner believes the team is in a good spot to land other free agents.

“We’re in a better starting position than we were a year ago. There’s no doubt about that,” Steinbrenner said. “Look, year after year after year after year, payrolls similar to this year and the luxury taxes they produce are not sustainable. That’s the case for the vast majority of owners, maybe all of them. Year after year after year — it doesn’t mean in any given year I can’t do what I want to do. I mean, we’ve got the ability to sign any player we want to sign.”

New York lost in the World Series to the Los Angeles Dodgers in 2024.

Cole Shelton Cole Shelton covers the NHL and MLB for Heavy.com. He has covered pro and college sports since 2016, including bylines at BJ Penn, USA Today, SB Nation, Rotowire, Canadian Baseball Network and more. More about Cole Shelton