Juan Soto rejects Yankees' $21.05 million qualifying offer

In perhaps the least suspenseful move of the entire baseball offseason, Juan Soto rejected the Yankees’ $21.05 million qualifying offer Tuesday, wrapping up the last administrative detail of his free agency.

Soto was the only player on the 2024 roster to receive the QO from the Yankees, who will now be awarded a compensatory draft pick if the outfielder signs with another team. Considering that Soto earned $31 million last season —a  record for a player in his final year of arbitration — the QO represented a significant pay cut, aside from the fact that he’s currently seeking a deal in the $600 million-$700 million range, which should come with an annual salary approaching $50 million.

That process is now in full swing, as a Yankees’ contingent — headed by owner Hal Steinbrenner — was the fourth identified team to meet with Soto and Scott Boras.   Their Monday summit was held somewhere in the vicinity of his agent’s compound in Newport Beach, California. Mets owner Steve Cohen also traveled there with his front-office group Saturday, following trips by the Red Sox and Blue Jays earlier last week. The Dodgers reportedly were next up.

Soto was among 13 free agents to receive qualifying offers from their respective clubs, with the vast majority expected to decline in favor of longer and more lucrative deals in the open market. Only one player accepted this offseason, with Reds pitcher Nick Martinez choosing to return on the one-year, $21.05 million terms.

By David Lennon

dave.lennon@newsday.comDPLennon

David Lennon is an award-winning columnist, a voter for baseball's Hall of Fame and has covered six no-hitters, including two perfect games.