Be careful, we’re talking about (very) big money here. Dominican baseball player Juan Soto is unknown in France. He plays “off the pitch” in this sport that most French people don’t understand. In the United States he is a star of the MLB, the top baseball league, the equivalent of the NBA for this national sport across the Atlantic.
in the last few hours Juan Soto signed the most critically important contract in the history of sport. To move from the New York Yankees to the New York Mets and travel the few miles that separate the two New York franchises, the Dominican signed a 15-year lease for the handsome sum of 765 million dollars, which is little equivalent to the equivalent in euro.
This means that the boy is safe from poverty until 2040,regardless of the dangers that may arise in his career. If he gets injured and has to end his adventure prematurely, he will receive the same amount. This is one of the peculiarities of baseball in the United States.
765 million is huge and abstract. This equates to a salary of 51 million per year, or approximately 140,000 euros per day of his life for the next 15 years. The sum could eventually rise to 805 million dollars to take inflation into account because the signed contract provides for an average annual increase of 4 million euros.
If the Mets do not respect this agreement, the Dominican will be able to terminate his contract in 2029 to monetize his talent elsewhere. And if that wasn’t enough, according to American media at the time of signing, Soto had already received a bonus of 75 million dollars. For the record, his salary with the Yankees was $31 million per season.
A record quantity and duration
with such an income, Soto will not receive the annual equivalent of the largest fortunes in world sport. Ronaldo with his 260 million dollars won in 2024 in Saudi Arabia remains on another planet.
However, in the entire history of sports, no one has ever signed such a long-term contract for so much money.The previous record was brand new and already related to baseball. Last year,Shohei Ohtani signed a 10-year contract with a deposit of $700 million to be collected at the end of the contract with the Los Angeles Dodgers.
As time goes by, the record is also broken. It was owned by another ballplayer, Fernando Tatis, who earlier in the decade agreed to a 14-year, $340 million lease with the San Diego Padres.
Juan Soto is 26 years old. He was just 19 when he started in the MLB in Washington. He helped, upon his arrival, win the World Series in 2019. He had rejected a 15-year, 440 million contract from the franchise in 2022.Joining the Yankees since December 2023, Juan Soto helped the franchise in 2024 achieve, in its time, the World Series for the first time in 15 years.
How does technological innovation in fintech affect investment strategies in emerging markets?
Interview: The Financial Landscape of Global Economics
Editor: Welcome to Time.news! Today, we’re diving into the fascinating world of global economics, an arena where the stakes are incredibly high. We’ve invited Dr. Emily Carter, a renowned economist adn expert in financial markets, to shed light on the current trends and their implications. Emily, thank you for joining us.
Dr. Carter: Thank you for having me! It’s great to be hear to discuss such an critically important topic.
Editor: let’s dive right in.When we talk about big money in economics, what specific factors are we referring to?
Dr. Carter: “Big money” in the context of global economics often refers to the massive flows of capital across countries, the movements of multinational corporations, and the notable investments that can make or break economies. We’re looking at foreign direct investments (FDI),stock markets,and even the influence of central banks—these are all crucial elements to consider.
Editor: that leads us to the question of volatility in the markets. How do shifts in capital flow affect global stability?
Dr. Carter: Absolutely, fluctuations in capital can create a ripple effect worldwide. As a notable exmaple, when large investors pull out of a market, it can lead to sharp declines in stock values, affect employment rates, and even destabilize currencies. Countries that may rely heavily on foreign investments can find themselves especially vulnerable to these shifts.
Editor: speaking of vulnerability,which regions do you see as being at the highest risk currently,and why?
Dr.Carter: Emerging markets often face significant risks because they depend on external funding to support their growth. Countries in Africa and South America, for example, are attractive to foreign investors due to their untapped resources. However, political instability and economic policies can deter investment, leading to a cycle of uncertainty.
Editor: That’s quite concerning. With such risks in mind,what strategies could governments implement to safeguard their economies against the volatility of big money?
Dr. Carter: Diversification is key. Countries that invest in multiple sectors—agriculture, technology, renewable energy—reduce their reliance on any single source of income. Additionally, building strong regulatory systems to ensure openness can boost investor confidence.
Editor: Now,let’s touch on technological advancements. How are innovations in fintech influencing global capital flows?
Dr. Carter: Fintech is revolutionizing the way we handle money. With blockchain, cryptocurrencies, and mobile banking, transactions can occur faster and more transparently across borders. This can attract new investors, but it also brings challenges such as regulatory scrutiny and security risks.
Editor: It sounds like we’re standing on the brink of major changes. What do you predict for the future of global economics in the coming years?
Dr. Carter: I believe we’ll see a continued integration of technology in finance, but we will also witness heightened scrutiny from governments as they aim to protect their economies. Additionally, geopolitical factors—like trade wars and climate change—will also reshape the financial landscape. It’s going to be an exciting and complex time.
Editor: Exciting indeed! Thank you, Emily, for sharing your insights. Your expertise sheds light on the intricate dynamics of global economics and the enormous impact of financial flows around the world.
Dr. Carter: Thank you for having me! It’s been a pleasure discussing these vital topics, and I’m looking forward to seeing how they unfold.
Editor: And to our viewers, stay tuned for more discussions on pressing issues affecting our world today. Until next time!