Juan Soto has reset the market for salaries when it comes to Major League Baseball players.

Here's a look at how the new $765 million contract stacks up to other sports and why Soto signing with the New York Mets could financially impact billionaire Warren Buffett.

What Happened: Hedge fund manager Steve Cohen has made a big splash in Major League Baseball free agency with his New York Mets landing the highly-prized Soto, who played last season with interstate rival the New York Yankees.

Soto will be paid $765 million over the next 15 years, ranking as one of the largest...