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Report: Yankees increase initial offer to Soto

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The New York Yankees have upgraded their initial offer to superstar outfielder Juan Soto, according to Jon Heyman of the New York Post.

Heyman notes the Yankees' offer, which may include opt-outs, should improve their position in the sweepstakes that features at least five big-market teams. Heyman adds the situation remains fluid and multiple teams still have a chance at signing Soto, however the Yankees and New York Mets appear to be the favourites. 

Heyman also reports the Yankees have also had calls with starters Corbin Burnes and Max Fried, as well as a number of other top free agents in addition to Soto.

The Yankees, Mets, Toronto Blue Jays, Boston Red Sox and Los Angeles Dodgers are believed to have met with and presented offers to Soto in the past week. Heyman described the process as being in the "middle innings" with offers possibly exceeding $600 million. Word emerged Tuesday that Soto could possibly make his final decision during the Winter Meetings, which run from Dec. 8 to Dec. 12. Soto's agent, Scott Boras, said initial contract offers were due by U.S. Thanksgiving on Thursday. 

The 26-year-old Soto is the clear No. 1 player on TSN's Top 75 MLB Free Agents list unveiled earlier this month. He slashed .288/.419/.569 with 41 home runs and 109 RBI in 157 games this past season, his only in the Bronx after coming over in a deal with the San Diego Padres last winter. He finished third in American League MVP voting behind teammate Aaron Judge and Kansas City Royals shortstop Bobby Witt Jr. 

The Dodgers made the first big splash of free agency Tuesday night, reaching a five-year, $182 million deal with left-hander Blake Snell. Heyman notes that while signing Snell makes the Dodgers a long shot, there is "no word they've left this party yet."

Soto is a career .285 hitter with a .953 OPS in seven big league seasons split between the Washington Nationals, Padres and Yankees.