Yankees' offer to Juan Soto revealed and shows gulf compared to new Mets details

For all the folks out there who initially believed Juan Soto chose $5 million more to be a New York Met on Sunday night, thankfully there isn't truth to that. The New York Yankees lost this bidding war fair and square.

When the initial breaking news bombshell hit, Soto accepted a 15-year, $765 million offer from the Mets, and moments later it was reported the Yankees had put forth a 16-year, $760 million offer. There was a notable difference in AAV ($51 vs $47.5), but other than that, it was $760 million. It was right there. Soto really took the extra $5 million over the pinstripes? Hey, it was possible, The Yankees really aren't "The Yankees" anymore. But then again, $5 million isn't an "out-bid" when you're in the $760 million range. It just isn't.

Upon further review, there was a wider gulf in these reported offers than expected. No further details have emerged on the Yankees' 16-year, $760 million attempt. There were no opt outs, escalators, or anything beyond the numbers at face value.

The Mets' offer? It's actually an $805 million deal. Soto can opt out of the contract after five years, and Steve Cohen can void it by increasing the average annual value from $51 million to $55 million, which is where the escalators come in.

If Soto were to opt out at that point in time, he'd be heading into his age-31 season with a chance at another monster payday or the opportunity to get out of Queens should this run with the Mets go sour (and it very well might). But in the end, Soto did not reject the Yankees over $5 million — he saw $45 more million and the chance to hit free agency again, deeming that superior. That explains it.

For the angry Yankees fans? We hear you. Under almost no circumstance should a premier free agent turn down the Yankees in favor of the Mets if the money is nearly the same. And there's still an argument to be made that Soto's "greed" got in the way of his decision. We can talk about it until we are blue in the face.

But the reality is that Steve Cohen, the wealthiest man in the sport, finally went the extra mile and made a ludicrous offer to a player looking to make history in free agency. And when that player's agent is Scott Boras, very rarely is the highest and best offer rejected.

As for the Yankees next steps, there are pros and cons here. Part of us exhaled when we knew the Yankees wouldn't have a ridiculous $700+ million commitment on the books. Many of us were actually shocked Hal Steinbrenner went as high as $760 million. The other part of us thought, "Man, why not just match the Mets' offer if you were already right there?"

Expect more details to emerge over the coming days, but this is what we have right now to reason with what just happened. The Yankees had to have seen this coming, so the Plan Bs better be in motion as early as Monday morning.