The Yankees' most important offseason task is re-signing Juan Soto. Here's what they're dealing with.

NEW YORK – It’s bad enough, the New York Yankees suffered a World Series loss as frustrating as any in recent memoryNow they have to worry about whether or not their best all-around player will leave in the offseason.

Juan Soto is officially a free agent, and judging by his great 2024 season, he will have multiple suitors willing to throw something that could amount to a record deal his way.

“I'm really happy with the city, with the team, but at the end of the day we'll see,” Soto said after Wednesday's Game 5 loss to the Los Angeles Dodgers. “We will look at every situation and every offer we get. I don't know which teams will want to come after me, but I will definitely be open to listening to each and every team. I don’t have any doors closed or anything like that, so we’ll be available to all 30 teams.”

The Yankees will of course be among the interested teams, but Soto, despite his great love for New York, will almost certainly take his time and explore every possible scenario. A generational talent in every sense, the 26-year-old outfielder is known for being intentional about where he plays. Back in mid-2022, he turned down a 15-year, $440 million contract to stay with the Washington Nationals.

He was eventually traded to the San Diego Padres, who took advantage of him for one season before sending him to the Yankees last offseason. He was subsequently awarded a record one-year, $31 million contract in arbitration.

Needless to say, Soto will be the prize of the offseason. So buckle up Yankees fans, this is going to be a process and probably a stressful one too.

Juan Soto was worth every dollar to the Yankees in 2024

Soto lived up to the hype in New York and more, under the biggest spotlight imaginable. However, the Yankees lost the World SeriesSoto played extremely well in the Bombers' regular season and postseason.

The hard-hitting right fielder posted a .288 batting average with 41 home runs and 109 RBIs in 157 regular-season games, the highest of his career. He also posted an outstanding .419 on-base percentage, second only in the MLB to teammate Aaron Judge's remarkable .458.

In the playoffs, Soto reached base with a .469 OBP to match his .327 average, four home runs and nine RBIs in 14 games.

Although judge is expected to win his second AL MVP awardExpect Soto to receive a lot of support from voters.

Before Game 5, Yankees manager Aaron Boone made it crystal clear what he wants for the future.

“I hope he stays here forever,” Boone said of Soto. “I also know that I am happy for him and the next few months for him. But from my perspective, I couldn’t have asked for anything better.”

What kind of contract could Juan Soto have?

In short, when you think of Dodgers superstar Shohei Ohtani signed a 10-year, $700 million contract before the 2024 seasonSoto's next contract can be expected to be in that range in both dollars and years. Ohtani's contract is unique in that $680 million of it is deferred for a decade, making it much easier for Los Angeles to remain competitive.

Could the Yankees do something similar? Perhaps. But they have a bit of a problem since they're already paying Judge $40 million per season. While Judge has proven to be an excellent and unselfish teammate, he is arguably the best player in baseball next to Ohtani. He is also the captain of the Yankees, an honor that speaks for itself in terms of prestige and respect.

The judge said exactly the right thing on Wednesday.

“It would be great to continue playing with him because he is definitely a special player,” Judge told reporters. “I think everyone in this room wants him back. … He just does a lot of the little things that people don't notice that really make him one of the best players, if not the best player in the game.”

Still, it's fair to say that paying Soto more annually might be an insult to Judge to some. However, let's not forget that Judge is six years older, and since the Yankees haven't won a championship in 16 years, the pressure will be on the front office and owners to commit to a player who could be a cornerstone of that Franchise plays long after Judge is no longer playing at a high level.

As for the teams that will be interested in Soto, his expected price will certainly deter many, but big spenders like the Dodgers, New York Mets, the sometimes aggressive Toronto Blue Jays and possibly the Philadelphia Phillies could be right in the thick of the sweepstakes .