Mets owner’s commitment to reinvention is evident in Juan Soto’s $765 million contract deal

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Steve Cohen, owner of the New York Mets, views his ownership as a philanthropic endeavor and is willing to spend big to make fans happy. This mindset led to outfielder Juan Soto signing a record-breaking contract worth up to $800 million with the Mets, all paid upfront without deferrals. Soto, a 26-year-old from the Dominican Republic, has the potential to earn more through opt-out clauses in his contract. Cohen’s willingness to pay luxury tax and increase the team’s payroll has not translated into success on the field, but Soto’s signing may change that. Cohen’s deep pockets and willingness to spend have made the Mets one of the highest payrolls in baseball, despite not always translating to championships. Soto’s massive contract is a result of timing and a lack of other high-profile free agents in the market. MLB’s lack of a salary cap allows teams like the Mets to spend freely, making baseball the leader in massive player contracts compared to other professional sports leagues. As Soto enters his peak years and shows potential to be a legendary hitter, his record-breaking contract may set the stage for even bigger deals in the future.

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