The Giants never emerged as true contenders to sign superstar outfielder Juan Soto after missing out on Aaron Judge and Shohei Ohtani in recent years. And even if they were in the mix, it’s difficult to envision a scenario where they outbid Steve Cohen.

A day after the Giants agreed with shortstop Willy Adames on a franchise-record $182 million pact, Soto and the New York Mets have reportedly agreed to a 15-year, $765 million contract, the largest deal in professional sports history. Soto’s deal includes no deferred money, escalators that can exceed $800 million and an opt-out after five seasons, according to reports.

Giants president of baseball operations Buster Posey revealed there were discussions about jumping in the negotiations.

When asked why San Francisco wasn’t all-in on the pursuit, Posey said, “I think we’re just trying to look around — the two of us — and say, what do we think our greatest needs are for the San Francisco Giants next year and trying to address those needs accordingly.”

Soto’s deal tops Shohei Ohtani’s $700 million, 10-year contract with the Los Angeles Dodgers.

Soto would have the right to opt out of the contract after the 2029 season if the Mets don’t at that time increase the average annual value by $4 million annually. Soto will get a $75 million signing bonus, payable upon the deal’s approval by the commissioner’s office.

Soto’s agreement does not include deferred money, the person said, leaving its average annual value at $51 million. Its length tops Fernando Tatis Jr.’s $340 million, 14-year contract with San Diego that runs through 2034.

The Yankees’ final offer to Soto was for $760 million over 16 years, a second person familiar with the talks said, also on condition of anonymity because that detail was not announced. That offer had a $47.5 million average annual value.

For all the pomp and circumstance surrounding Soto, more relevant to San Francisco is outfielder Michael Conforto reportedly agreeing to a one-year, $17 million deal with the Dodgers and joining former Giant Blake Snell in Los Angeles.

With the Giants’ outfield already set, Conforto’s services weren’t necessarily in high demand.

Heliot Ramos, fresh off earning his first All-Star selection, will play left field. Jung Hoo Lee stands to patrol center field after his first season in San Francisco was cut short due to a shoulder injury. Mike Yastrzemski will assume right field after agreeing to one-year deal to avoid arbitration.

Over two seasons with San Francisco, Conforto had a .238 batting average and .740 OPS with 35 home runs and 124 RBIs.

The Associated Press contributed to this report.