Juan Soto: Who is he and why is he paid so much?
MLB teams secure revenue through a combination of ticket sales, broadcast deals, sponsorships and merchandise.
The team has money to spend. According to Forbes, The average MLB team is now worth $2.4bn (£1.89bn)., external In 2024, the Yankees are valued at $7.55bn (£5.95bn).
The league also has no salary cap. This sets it apart from other American professional leagues (NFL, NBA and NHL), which limit how much each team can spend on payroll.
However, Major League Baseball does operate what is called “Competitive Balanced Tax”, externalmeaning clubs that exceed the wage threshold are taxed on amounts above that threshold. In 2024, the threshold is US$237 million ($187 million).
With so much talk about multi-million dollar contracts, you might expect baseball players to appear regularly on Forbes’ list of the highest-paid athletes. However The 50 Highest-Paid Athletes, externalonly two people: Ohtani and Max Scherzer.
This is because the total value of a baseball is determined by the length of the contract. In Soto’s case, we know how much he earned over 15 years, but that doesn’t mean he had the highest annual income.
For example, Portuguese striker Cristiano Ronaldo is the highest-paid footballer in the world – Get Annual salary: £177 million Al Nassr from Saudi Arabia.
That’s more than double Messi’s salary while playing for Major League Soccer side Inter Miami. His contract is reportedly worth up to £47 million a year.
Soto, meanwhile, is worth £40m a year.
