Juan Soto’s Record-Breaking Mets Contract Brings Big Tax Revenue
Juan Soto’s historic 15-year, $765 million contract with the New York Mets isn’t just a windfall for the star outfielder—it’s also a boon for federal, state, and local governments, which are set to collect an estimated $364 million in taxes over the life of the deal. If Soto opts out after 2029 and the Mets counter with an additional $4 million annually, increasing the contract to $805 million, the government’s cut would rise to $386 million.
Projected Earnings After Taxes
Under current tax laws and assuming Soto stays with the Mets for the full term, he is expected to net approximately $401 million after taxes. This figure increases to $422 million in the opt-out scenario. These estimates are based on the assumption that Soto maintains residency in Florida, a state with no income tax. His $75 million signing bonus would thus avoid New York state taxation.
If Soto moves to New York City, he would incur additional local income taxes. Trades or changes in residency could also affect these calculations, as could shifts in tax laws over the next 15 years.
Impact of Changing Tax Laws
The Trump tax cuts, which capped federal income tax at 37%, are set to expire in 2025. If they are not extended, Soto’s federal tax rate would climb to 39%, significantly altering his tax burden. However, deductions, endorsements, and investment income could also influence the final numbers.
Federal and State Tax Contributions
Soto is expected to pay approximately $306 million in federal taxes, or $322 million if the opt-out clause is exercised. These amounts include payroll taxes like Social Security and Medicare. He will also contribute roughly $33.8 million to New York State taxes over the contract period, or $36 million in the adjusted scenario.
Additional Taxes
As a professional athlete, Soto will owe “jock taxes” for games played in other states and cities. These are projected to total $24.1 million, or $25.6 million with the opt-out adjustment.
Conclusion
While Soto’s deal cements his place among the wealthiest athletes, it also underscores the significant share that governments claim. The $364 million (or $386 million) tax haul highlights the interplay between sports contracts and public revenue—proving that even in baseball, the government always gets its cut.
