The Yankees are interested in Juan Soto becoming more than a one-year rental and they’d love to have his signature on a record contract very, very soon.

It could happen.

No joke.

There is a catch.

The Yankees won’t be signing their new superstar outfielder to a multi-year deal, but they probably will make a historic one-year offer by 1 p.m., EST Thursday.

That’s the deadline for signing arbitration-eligible players before numbers are exchanged.

FIXING THE YANKEES:

A year away from free agency, Soto is projected by MLB Trade Rumors to get a salary bump from $23 million in 2023 to $33 million this year.

Shohei Ohtani’s $30-million salary last year is the record for a salary-arbitration player.

The Yankees acquired Soto and outfielder Trent Grisham from the Padres on Dec. 6 for four pitchers — Michael King, Randy Vasquez, Jhony Brito and Drew Thorpe — and catcher Kyle Higashioka.

If Soto and the Yankees don’t come to terms before the deadline, the two sides have until 8 p.m., to file numbers. If it gets that far, Soto and the Yankees either will come to terms on a deal or go to arbitration during spring training or early into the season and have a third-party adjudicator pick one of the two numbers for a 2024 salary.

It’s very unlikely the Yankees will get Soto to commit for more than one season at any point unless they offer a contract that blows away the $360 million over 10 years that they gave to Aaron Judge last winter when he tested the free agent market.

Soto turned down $440 million from the Nationals two summers ago and, according an NJ Advance Media source, is hoping to get $500 million in his next contract.

Would the Yankees go that high?

Doubtful.

If the 25-year-old, three-time All-Star settles for one year before Thursday’s deadline, the Yankees’ 2024 payroll could climb about $80 million if they come to terms with all nine of their arbitration-eligible players.

That’s their hope.

Last year, the Yankees had 10 arbitration-eligible players and signed nine before exchanging numbers. Fifteen days later, they were 10 for 10 avoiding a hearing when second baseman Gleyber Torres signed for $9.95 million after filing at $10.2 million with the Yankees countering at $9.7 million.

Entering his walk year to free agency, Torres is due for raise up to $15.3 million this year, MLB Trade Rumors predicts.

The Yankees’ other arbitration-eligible players are starting pitchers Nestor Cortes and Clarke Schmidt, closer Clay Holmes, reliever Jonathan Loaisiga, outfielders Alex Verdugo and Grisham, and catcher Jose Trevino.

Their eight arbitration eligibles are projected to make a combined $80.1 million this year, up from $54.3 million in 2023.

No Yankees player has taken the team to an arbitration hearing since reliever Dellin Betances lost in 2017.

Heading into Thursday, the Yankees had only eight players on their 40-man roster signed for $174.33 million: Judge and seven others with multi-year deals plus last week’s free agent signing, pitcher Cody Poteet for one season at $750,000.

Heading into the offseason, the Yankees had 17 arbitration eligibles. Since, they dropped 13 who were projected to make $22.5 million in 2024 and added three in trades that are expected to make $52.1 million this year.

The departures included the Yankees trading outfielder/first baseman Jake Bauers, Higashioka and King. Seven others left the organization via outright waivers — pitchers Matt Bowman, Jimmy Cordero, Domingo German and Ryan Weber, and outfielders Franchy Cordero and Billy McKinney — while pitchers Albert Abreu, Anthony Misiewicz and Lou Trivino were non-tendered.

Fangraphs predicts the Yankees’ 2024 payroll will be at $279 million if they make no additions, but it’ll go up when they add a veteran starter in a trade or through free agency, perhaps a lot. Last year they were at $273.5 million, which ranked second highest to the Mets’ $346 million.

ARBITRATION-ELIGIBLE YANKEES

Player……………..…… Service time ………….2023 …….. 2024

LHP Nestor Cortes …….. 4 years, 94 days …. $3.2M ….. $3.9M

CF Trent Grisham ……….. 4 years, 60 days … $3.175M .. $4.9M

RHP Clay Holmes ………. 5 years, 31 days …….$3.3M …… $6M

RHP Jonathan Loaisiga .. 5 years, 22 days ….$2.26M …. $2.5M

RHP Clarke Schmidt …… 2 years, 148 days …. $740K …. $2.6M

OF Juan Soto ………………. 5 years, 134 days …. $23M …… $33M

2B Gleyber Torres ……….. 5 years, 162 days .. $9.95M … $15.3M

C Jose Trevino …………….. 4 years, 63 days …… $2.36M … $2.7M

OF Alex Verdugo …………. 5 years, 78 days …….$6.3M …. $9.2M