MLB Rumors: Jim Bowden Explains How Phillies Could Afford Juan Soto

Former baseball exec Jim Bowden, speaking on MLB Network Radio Sunday, said the Phillies have the financial flexibility to sign Juan Soto to his expected mega-deal.

Jim Bowden on @MLBNetworkRadio explains how the Phillies could sign Juan Soto this winter. pic.twitter.com/g4GVU7MaAu

— Phillies Tailgate (@PhilsTailgate) November 3, 2024

"They've got the money," said Bowden. "Why? Because JT Realmuto and Kyle Schwarber's $38 million comes off the books after '25. Castellanos' $20 million comes off the books in '26. Okay? That's $58 million bucks coming off, everybody!

"So if I do a 15-year deal, if I do a Bryce Harper-type deal--that today [would be] probably 15 [years], $600 million--okay, I can do it. I can show my owner how I'm not increasing payroll. I'm just gonna back load the first couple years a little bit, I'm gonna show 'em that pathway, on that balance sheet, I'm gonna show 'em how it absolutely fits."

© Eric Hartline | 2023 Apr 10

Not only do the Phillies have the money, said Bowden, but Phillies president of baseball operations Dave Dombrowski wants to go star-hunting:

"Lemme tell you this about Dave Dombrowski . . . How does he build teams? Only with stars. If he played fantasy, all his teams would be stars and scrubs. All of them, because that's what he does. He only is obsessed with stars, and he gets owners to pay the money.

"In Detroit, here's Justin Verlander. In Boston, here's Chris Sale. That's what he does . . . And what is [the Phillies'] biggest need? Hmm. A left-handed hitting outfielder."

Bowden mentioned earlier in this segment that he believes Juan Soto will end up with the Yankees, Mets, Dodgers or Phillies.

— Phillies Tailgate (@PhilsTailgate) November 3, 2024

Now that we're all excited, let's throw some cold water on this.

First, Bowden played the finance talk a little fast and loose. While the Phillies certainly have salary coming off the book before the 2026 and 2027 seasons, they'd need to pay Soto in 2025 as well. Every team has financial flexibility if you look far enough into the future.

Bowden says the Phillies could back load the contract. But with big-money suitors such as the Yankees, Mets, and Dodgers in the mix, one team is likely to offer Soto a deal that starts with some huge early payments. When you're dancing around in the $600-$700 million range, the time value of money is critical to the deal. 

Second, while Dombrowski's reputation as a star-hunter is well known, the Phillies organization has repeatedly indicated that they already landed their stars. Bryce Harper and Trea Turner basically have lifetime contracts. The club also recently inked Aaron Nola and Zack Wheeler to hefty deals. Before the 2024 season, with largely the same roster, the Phillies seemed content to shop at the fringes of the free agent market.

But.

John Middleton did recently say the Phillies would be willing to send their salary over the third luxury tax threshold "for the right player." And Juan Soto is certainly the right player, by any metric. The Phils will be in the Soto mix to some extent. 

It's enough to let fans dream.

MLB free agency kicks off Monday at 5:00 p.m. Eastern.