Benzinga - by Chris Katje, Benzinga Staff Writer.
The New York Yankees were one of the favorites to win the 2023 World Series, but failed to miss the postseason. Instead it was the Texas Rangers who took home the World Series title.
As the Yankees look to right the ship and make the postseason and a World Series run, the team completed a blockbuster trade Wednesday.
What Happened: The 2023 World Series saw a surprising matchup between the Rangers and the Arizona Diamondbacks, two teams with low odds of making the postseason at the beginning of the season.
The Yankees, who have won more World Series than any MLB team in history with 27, are hoping to get back to the World Series in 2024.
On Wednesday, the team traded multiple prospects to land MLB superstar Juan Soto from the San Diego Padres, as reported by ESPN.
In the 2023 MLB season, Soto posted a batting average of .275, on-base slugging percentage of .930 and had 35 home runs, totals that ranked 34th, 9th and 14th respectively among MLB players.
Soto also posted 109 RBIs, which was tied for fourth among players. Soto finished the season sixth in National League MVP voting.
Soto signed as an international free agent with the Washington Nationals in 2015 and made his debut with the team in 2018, a season which saw him finish as runner-up as the National League Rookie of the Year.
Soto won a World Series with the Nationals in 2019 and played nearly five seasons with the team before being traded to the San Diego Padres during the 2022 season.
Soto finished as the runner-up for the 2021 National League MVP.
In the 2022 season, Soto rejected a 15-year $440 million deal with the Nationals, which likely led to his trade to the Padres and he could now be a short term rental for the Yankees on the last year of his current deal.
In his seven MLB seasons, Soto has played 779 games and has 768 hits, 160 home runs, 483 RBIs and has a batting average of .284.
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What's Next: The move from the Yankees comes as several of their top players, including the newly acquired Soto, have one year left before potential free agency, stressing the urgency for a strong season in 2024.
The Yankees have won 27 World Series and made the playoffs in 58 seasons of their 121 MLB seasons. Over the last ten seasons, the Yankees have made the playoffs seven times and won only six playoff series.
The team lost three American League Championship Series over the last ten seasons. The team’s last World Series win was 2009, a long stretch for a team and fans that have come to know championships.
The favorite to win the 2023 World Series, the Yankees failed to qualify for the postseason after six straight postseason trips.
As expected with landing another star player, the odds for the Yankees to win the 2024 World Series have improved.
At sportsbook DraftKings (NASDAQ:DKNG), the Yankees are now listed third for odds for the World Series with odds of +850. The club trails only the Los Angeles Dodgers and the publicly traded Atlanta Braves (NASDAQ:BATRA) each tied at +700.
As shared by Action Network, the Yankees odds improved from +1200 to +950 on Wednesday, going from the sixth best odds to fifth best at sportsbook FanDuel, a unit of Flutter Entertainment (OTC:PDYPY).
BetMGM's John Ewing tweeted that the Yankees had odds of +1600 at the MGM Resorts International (NYSE:MGM) and Entain joint venture sportsbook Wednesday morning. By Wednesday night the odds improved to +900 and the Yankees are currently listed with odds of +800, ranking third in the sportsbook.
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