Juan Soto ended the year in an unprecedented—and incredibly lavish—fashion.
One of the most sought-after free agents in baseball history signed the richest contract in professional sports history, a 15-year deal worth $765 million with the New York Mets. The contract comes with escalators that vaunt it north of $800 million if Soto hits certain marks while playing in Queens.
Soto’s agreement is second to none—and likely won’t be topped by any athlete for the foreseeable future. But Soto’s deal with the Mets is only one of the blockbuster contracts of 2024.
MLB: Juan Soto (15 years, $765 million)
To land Soto, the Mets had to do what was previously considered impossible: Outbid the crosstown Yankees. The Bronx Bombers offered Soto $765 million over 15 years to stay with the franchise, but the 26-year-old outfielder preferred to change boroughs instead of wearing pinstripes for the rest of his career.
Soto’s contract came with its length and money mainly due to his age and incredible hitting prowess. He debuted in the major leagues for the Nationals at age 19 in 2018, which allowed him to accumulate enough service time to hit free agency shortly after his 26th birthday. He’s batted .285 for his career and has drawn comparisons to Ted Williams for his hitting and plate discipline.
NBA: Jayson Tatum (5 years, $315 million)
A year after teammate Jaylen Brown inked the richest contract in league history, Jayson Tatum topped him with a five-year extension for $315 million. The deal exceeded Brown’s $303.7 million extension from 2023 over the same period.
In June, the duo led the Celtics to their first NBA title since 2008, and the team has the supporting cast around its stars to compete for a few more in the coming years. But having more than $600 million tied up in two players with the current collective bargaining agreement is going to be costly. Brown and Tatum will account for more than $100 million in salary next season and the team’s luxury tax bill will be roughly the same amount as the duo’s combined salary.
It’s why Celtics owner Wyc Grousbeck put the team up for sale shortly after winning the title, with a new owner expected to emerge sometime in 2025. Tatum’s deal was a no-brainer given his scoring prowess, but the new CBA punishes teams for lavishly spending. Tough decisions to cut payroll and avoid the repeater tax and the dreaded second apron remain ahead, but the team has time and new ownership’s wishes to deal with before making those.
NHL: Igor Shesterkin (8 years, $92 million)
The Rangers haven’t had the start to the season either they or the league expected, hovering around .500 instead of being among the Eastern Conference’s elite. Last year’s Presidents’ Trophy winners are in the process of shaking up their roster, trading captain Jacob Trouba to the Anaheim Ducks in its first major move.
Team morale may be low and defense shaky, but a bright spot has been goalie Igor Shesterkin, who remains among the game’s best. The 28-year-old is in the final year of a four-year contract that pays an average annual value of $5.6 million. On Dec. 6, the Rangers made Shesterkin the highest-paid goalie in NHL history, with an eight-year, $92 million extension. The deal tops Carey Price’s previous eight-year contract worth $84 million signed in 2017. Shesterkin’s new deal will pay an AAV of $11.5 million, which is roughly $1 million more than Price’s deal paid.
There was fear the Rangers would either trade Shesterkin or lose him in free agency for more money than he signed for. The deal gives the team one less thing to worry about as it aims to turn its season around.
NFL: Dak Prescott (4 years, $240 million)
The Cowboys locked up Prescott in September on a four-year extension worth $240 million with $231 million of it guaranteed. The deal also came with an $80 million signing bonus. The contract’s average of $60 million a year in salary gave Prescott the highest AAV in NFL history.
Prescott made a little more history by becoming the first player in NFL history to take home $100 million in a calendar year after getting $86 million from the Cowboys among his salary and bonus and an additional $14 million through various endorsements.
Prescott’s deal came shortly after the team agreed to an extension with wideout CeeDee Lamb, for four years and $136 million, which made him the second-highest-paid receiver in the NFL behind the Vikings’ Justin Jefferson.
Prescott wasn’t able to give the Cowboys much after getting a new deal. The team started off 3–5 and saw Prescott’s season end prematurely after he tore his right hamstring in November. Dallas has gone 2–3 since Prescott went down and Cooper Rush took over starter duties.
