Dodgers reportedly a favorite to sign top player in 2024 free agency despite handing out over a billion in contracts last offseason

Despite handing out over $1 billion in contracts this past offseason, a prominent MLB insider believes the Los Angeles Dodgers are among the favorites to sign superstar outfielder Juan Soto this winter.

Entering the MLB games today , the Dodgers sit atop the MLB standings with a two-game lead over the Yankees for the best record in baseball. It is the position they hoped to be in at this point in the season. Especially after they forked over more than a billion dollars in contracts to Shohei Ohtani, Yoshinobu Yamamoto, and Teoscar Hernandez before the season.

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Their current position only emboldens that strategy to throw large sums of money at winning another World Series. And that is unlikely to stop after this season despite having a $238 million payroll in 2024. During a Friday live stream, Bleacher Report MLB insider Jon Heyman ran down his early favorites in the eventual Juan Soto free-agent sweepstakes.

Unsurprisingly, his current team — the New York Yankees — was his top favorite to re-sign the MVP candidate. They were followed by the club with the wealthiest owner in the sport, the New York Mets. However, Heyman believes the Dodgers have the next best chance of landing the young superstar. Giving them decent odds of 15-1.

How can the Los Angeles Dodgers sign Juan Soto after spending so much last offseason?

At first glance, it is a baffling idea for the Dodgers to add the top free agent in this winter’s market after winning the bidding war for the top two last year. However, this is where Ohtani’s massive deferrals come into play.

Despite giving the Japanese superstar a $700 million contract before the season, much of it does not have to be paid until it expires after 2033. He is only making $2 million per season under the terms of the deal. That is why LA’s $238 million payroll this season is only the fifth highest in MLB (via Spotrac) this season.

That number goes down to $171 million in 2025 with several contracts coming off the books, including Teoscar Hernandez’s $15 million. It all means that they could potentially give Juan Soto a contract worth $500 million over 10 seasons and still not have the highest payroll in the league next season.

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