DALLAS – Another huge Toronto Blue Jays swing at a franchise-altering free agent failed to connect Sunday when Juan Soto decided on the New York Mets.

The superstar slugger, a generational offensive talent who combines power, plate discipline and hitting acumen, reached an agreement on a 15-year, $765 million with the Mets, spurning the impact-seeking Blue Jays and other suitors. The New York Post’s Jon Heyman was the first to report the deal.

Heyman added that the New York Yankees bid $760 million over 16 years for Soto’s services, but were outdone by the Mets.

Soto’s contract eclipses the remarkable $700-million, 10-year contract Shohei Ohtani signed last year with the Los Angeles Dodgers, who like the Mets, also fended off an aggressive Blue Jays run.

Ohtani’s unique contract, which included a stunning $680 million in deferrals, was a target for Soto and the difference in processes — the two-way Japanese superstar proposed terms to interested clubs, while the Dominican outfielder held at least three rounds of goalpost-moving bidding — produced a contract that is a new standard for the industry.

That the Blue Jays were in deep on both players — there are suggestions their offer went beyond $700 million — demonstrates that the franchise has the financial wherewithal to compete for the very best free agents, although there’s work to be done on closing such deals.

In some cases, there are circumstances beyond a team’s control — Ohtani, for instance, had his life and business interests based in Los Angeles and the clubs bidding for him were essentially playing for second in case the Dodgers stumbled, and they didn’t.

But with a player like Soto, who was believed to have preferred New York but could, potentially, have been swayed by the right combination of money and situation, the Blue Jays needed to have all their pieces aligned to win such a competition.

And while the money was there, of the other four teams known to be involved, the Yankees, Mets, Red Sox and Dodgers, the Blue Jays are in the worst shape in terms of big-league talent and third-party farm system rankings.

Addressing the farm system will take time, but they can work on the big-league gap this winter and two immediate questions in the aftermath of Soto’s decision are what do the Blue Jays do now and how does this impact Vladimir Guerrero Jr., a potential free agent next winter?

Soto’s deal carries industry-wide repercussions and elite mid-20s free agents are sure to look at the $765 agreement and think if he’s worth that, how do I slot in relative to that number?

Extension talks are likely a matter for the new year at this point, leaving the Blue Jays to seek some significant upgrades for a lacking roster in free agency and through trades. One industry source expects them to pivot to Max Fried and Anthony Santander, while two weeks ago they met with Corbin Burnes, another free agent represented by agent Scott Boras, who is sure to redirect the spurned Soto suitors to his other cache of clients.

How much they have to spend is uncertain as the money for Soto would have come from a special allocation atop their set budget and can’t be repurposed elsewhere.

The Blue Jays need help across a roster that finished 74-88 last season and with the core’s competitive window nearing closure with Guerrero, Bo Bichette and Chris Bassitt eligible for free agency after the 2025 season, and Kevin Gausman, George Springer, Daulton Varsho and Alejandro Kirk set to join them following 2026.

A boost to the farm system came during last summer’s trade deadline selloff, but the next franchise cornerstone doesn’t appear to be in the organization yet.

That would have been Soto, had he signed, in what might have been the most significant, landscape-shifting transaction made by a Canadian sports franchise since the Edmonton Oilers traded Wayne Gretzky to the Los Angeles Kings on Aug. 9, 1988.

Instead, the questions and search for a direction continue for the Blue Jays.