The New York Yankees have long been the favorite to trade for Juan Soto. The Toronto Blue Jays are reportedly emerging as the new favorite to acquire the San Diego Padres star, according to MLB insider Hector Gomez.

“SOURCE: #BlueJays intensify talks with #Padres for Juan Soto. The #BlueJays now emerge as the favorites to land Soto. The #Yankees and #Padres negotiations are stalled due to the prospects package the #Padres are asking for,” Gomez wrote on X (formerly Twitter).

As Gomez mentioned, the Yankees were not big fans of the Padres' reported asking price. This even led New York to consider pausing negotiations altogether. The Yankees were expected to have competition in Soto trade talks anyway, and that is where the Blue Jays come in.

Will the Blue Jays trade for Juan Soto?

Juan Soto in a Padres uniform. Yankees, Blue Jays logos in background

The Blue Jays will need to take a deep look into their farm system in order to complete a trade for Soto. Their future is in question since Vladimir Guerrero Jr. and Bo Bichette are not signed to long-term extensions.

Trading key prospects away and potentially losing Soto in free agency next year could lead to disaster for the Blue Jays. With that being said, Toronto has been competitive over the past few years so going all in during the 2024 season makes sense.

Still, signing at least one of Guerrero Jr. or Bichette to an extension should be a priority. The Blue Jays need to think about their long-term future. And there is a chance that Toronto could agree to an extension with Juan Soto if they do indeed end up acquiring him from the Padres.

Again, nothing is guaranteed at the moment. The Yankees could easily make the Padres an offer they can't refuse still. Or, a different team could enter the conversation. As things stand right now though, the Blue Jays are in a great position to trade for Juan Soto.