Record-Setting $31 Million Salary: Juan Soto and New York Yankees Lead List of MLB Players Agreeing on Compensation

Los Angeles, CA – In a record-setting deal, Juan Soto of the New York Yankees has agreed to a $31 million salary for the 2024 season. This tops the previous highest figure of $30 million set by Shohei Ohtani last year. Soto, like Ohtani, is heading into his final year before free agency.

The second-highest figure goes to Pete Alonso of the New York Mets, who will be paid $20.5 million in 2024. Several other players, including Corbin Burnes of the Milwaukee Brewers ($15.63 million) and Max Fried of the Atlanta Braves ($15 million), also reached salaries in the eight-figure range.

However, one notable exception is Vladimir Guerrero Jr. of the Toronto Blue Jays, who was not included in the list of players to avoid arbitration. Guerrero, two seasons away from free agency, is projected to earn around $20 million this season. There is a possibility that he and the Blue Jays will have to settle his compensation in front of an arbitrator.

The deadline for players and teams to exchange figures before a potential arbitration hearing was 8 p.m. ET on Thursday. While negotiation can continue in the days leading up to a hearing, most teams treat this deadline as final for reaching a deal. However, some exceptions are made for multi-year contracts.

Overall, numerous arbitration-eligible players have agreed on their compensation, bringing an end to the negotiation period. These agreements will determine the salaries of these players for the 2024 season.