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Soto signed a one-year, $31 million contract with the Yankees on Thursday to avoid arbitration, Joel Sherman of the New York Post reports.
The deal is the largest ever on a one-year contract for an arbitration-eligible player, as Soto's salary will surpass Shohei Ohtan's mark in 2023 by $1 million. This could be the first step in the Yankees' hopes to keep Soto with the club for the long term, though earlier in the offseason, general manager Brian Cashman said there had not been any extension talks. Barring any long-term agreement between the sides, Soto will hit free agency next offseason.
