NEW YORK – Juan Soto appears on a timetable decide where you want to sign either before or during the Dallas Winter Baseball Meetings, which take place Dec. 8-12.

Soto has met with the New York Yankees, New York Mets, Los Angeles Dodgers, Boston Red Sox and Toronto Blue Jays, a person familiar with the negotiations told The Associated Press last week on condition of anonymity Details were not disclosed.

Soto’s agent Scott Boras has asked teams to submit initial offers by Thanksgiving, a second person familiar with the discussions said, also on condition of anonymity because it was not disclosed.

Soto is the top player among this year’s free agents. A four-time All-Star, Soto finished third in the AL MVP voting after hitting .288 with 41 home runs, 109 RBIs and 129 walks. He has a career .285 average with 201 home runs, 592 RBIs and 769 walks in seven major league seasons.

Soto rejected a 15-year, 2022, $440 million offer from Washington, prompting the Nationals to trade him to San Diego, which then traded him to the Yankees last December. Soto then teamed with Aaron Judge to lead New York to the World Series. where the Yankees lost to the Dodgers.

In his pitch to the teams, Boras highlighted that Soto joined Mickey Mantle as the only players with seven RBIs in a World Series at age 21 or younger while playing for Washington, and at age 20, the youngest player with five Home runs after the season was. Soto’s postseason OPS of .906 at age 25 surpassed Mantle (.900) and Derek Jeter (.852).

How much money will Soto get?

Soto is likely aiming for a record deal, surpassing Shohei Ohtani’s $700 million, 10-year deal with the Los Angeles Dodgers last December. However, that may not mean Soto will receive more than $700 million. Since Ohtani’s deal included $680 million deferred until 2043, it can be valued using various methods.

For example, under MLB’s luxury tax system, which provided a 4.43% discount rate, Ohtani’s contract is worth $46.1 million per season ($461 million total). The players’ association uses a rate of 5%, meaning Ohtani’s contract is $43.8 million per year. For regular MLB payroll calculations, the value of Ohtani’s deal at a 10% discount rate is just $28.2 million.

That means if Soto gets even $462 million with no deferrals, there’s an argument that his deal is the most valuable in MLB history.

Pitchers Max Scherzer and Justin Verlander’s contracts with the New York Mets, which expired at the end of the 2024 season, are tied for second in baseball history in terms of average annual value, with $43.33 million.

In terms of total value, Ohtani surpassed outfielder Mike Trout’s $426.5 million, 12-year contract with the Los Angeles Angels through 2030.

The longest MLB contract is outfielder Fernando Tatis Jr.’s 14-year contract with the San Diego Padres through 2034.

How might MLB’s luxury tax impact the team’s offers for Soto?

The Mets, Yankees, Dodgers and Philadelphia Phillies are all likely to enter 2025 having paid luxury taxes for three straight years, giving them the highest rate: a 50 percent surcharge on payroll between $241 million and $261 million US dollars, 62% between US$261 million and US$261 million US$281 million, 95% of US$281 million to $301 million and 110% for every dollar over $301 million.

Toronto may have fallen below the original tax threshold this year until the final numbers come in next month. If the Blue Jays do fall below that, their odds next year would reset to 20%, 32%, 62.5% and 80% for the four thresholds.

The winter meetings would be a fitting place for Boras to announce a record deal

If Soto reaches or announces an agreement at the winter meetings at the Hilton Anatole in Dallas, it would be a known location for a big Boras deal.

Alex Rodriguez’s record-setting, 10-year, $252 million contract with the Texas Rangers was announced in December 2000 at the then Wyndham Anatole Hotel. A-Rod’s deal more than doubled the previous MLB high, an eight-year, $121 million deal between pitcher Mike Hampton and Colorado that was announced just two days earlier.

“In two days we doubled a new maximum salary,” said Sandy Alderson, then executive vice president in the commissioner’s office. “I don’t like the exponential nature of it.”

Rodriguez was 25 years old at the time of the deal with Texas and a free agent before, like Soto, reaching his likely prime.

Besides Soto, which free agent hitters are available?

Third baseman Alex Bregman, first basemen Pete Alonso and Christian Walker, and outfielders Anthony Santander and Teoscar Hernández are among the notable bats to pursue and would likely interest some of the teams unable to sign Soto.

Like Soto, Bregman and Alonso are represented by Boras.