The Yankees and Mets have dramatically increased their bids for Juan Soto, pushing their offers into unprecedented territory as they make a final push ahead of the Winter Meetings.

According to Jon Heyman of the New York Post, both New York teams have raised their offers for the star outfielder into the range of $710 million to $730 million. As of Saturday night, it is believed that the Mets may have a slightly higher offer, but the two teams are now in a close battle, with their bids expected to be within “shouting distance.” With both teams aggressively pursuing Soto, it is expected that a decision could come in just a day or two, likely before the Winter Meetings officially begin.

Any contract that exceeds $700 million would set a new record, breaking the mark Shohei Ohtani set when he signed with the Los Angeles Dodgers last winter for a 10-year, $700 million deal. Soto, 26, offers a unique combination of youth and elite talent, making him one of the most sought-after players in free agency. His rare skill set, paired with his age, has driven the high stakes in this bidding war, with the Yankees and Mets, two of the sport’s biggest spenders, at the forefront.

This massive competition for Soto is not just limited to New York. Other teams, such as the Boston Red Sox, Toronto Blue Jays, and Los Angeles Dodgers, have also made significant pushes to land the 26-year-old. According to Heyman, both the Red Sox and Blue Jays have placed highly competitive bids for Soto, while the Dodgers—despite their strong financial offer—remain less likely to land him. While Los Angeles has shown interest, their needs for another superstar are not as pressing as those of the Yankees and Mets, which makes them the least likely destination for Soto despite offering a deal exceeding $600 million.

The Yankees and Mets are clearly the primary contenders, each willing to go all-in to secure the generational talent that Juan Soto represents. With the clock ticking down before the Winter Meetings, it seems that Soto’s future will soon be decided, and it could be one of the largest contracts in MLB history.