Soriano’s initial deal was a three-year, $35 million one and he was still owed $14 million next season. Instead, he takes a $1.5 million buyout.
The Yankees are expected to offer him a $13.3 million qualifying offer, which Soriano could potentially accept. However, he’s likely to reject it and search for a multi-year offer somewhere. His agent Scott Boras will no doubt pitch a deal to the Yankees, but at this point it is hard to see them signing him to a multi-year contract with the $189 million budget just a year away. Perhaps they’ll reconsider if Mariano Rivera retires though.