The Los Angeles Dodgers have been one of the five teams known to be seriously pursuing superstar outfielder Juan Soto in free agency this offseason. However, multiple reports have suggested they may be the fifth-most likely team to sign him.

On Wednesday, MLB.com’s Mark Feinsand added more fuel to that report when he said that four teams are “clearly establishing themselves as favorites” for Juan Soto this offseason. Those four teams are the New York Yankees, New York Mets, Toronto Blue Jays, and Boston Red Sox.

On Tuesday, The Athletic’s Ken Rosenthal reported that the remaining contenders for Soto have all made contract offers over $600 million. However, it was not clear if the Dodgers were one of those “remaining contenders.”

Soto’s agent, Scott Boras, told reporters on Tuesday at Blake Snell’s introductory press conference with the Dodgers that Soto is in the process of eliminating teams.

“We’ve had meetings with a number of franchises,” Boras said. “He’s begun the process of eliminating teams and doing things. Juan is a very methodical thinker, so we’ll see, but I don’t think anything is imminent in the near future.”

While no teams have been reported to be eliminated, Feinsand makes it seem like the Dodgers may be on the outside looking in.

“The Dodgers also met with Soto,” Feinsand wrote, “but sources indicate that Los Angeles is unlikely to sign the four-time All-Star.”

While the Dodgers have been as aggressive as any team over the last few seasons, it’s difficult to imagine them shelling out a $600-plus million contract one year after signing Shohei Ohtani to a $700 million deal.

Moreover, while L.A. needs a corner outfielder, Soto is a below-average defender, and the Dodgers would have no choice but to keep him in the outfield for the next nine seasons with Ohtani taking up the designated hitter spot.

While the Dodgers would never want to say no to a generational talent like Soto, they likely aren’t interested in joining a bidding war for his services.

Rather, they would want to sign him on their terms, which Soto doesn’t need to do when he has four of the biggest-market teams in the league vying for his services.

Once Soto officially chooses his next team, the rest of the 29 teams will scramble to use that money elsewhere.

The Dodgers would be wise to spend theirs on free agent Teoscar Hernández, while also adding another starting pitcher.