The Yoshinobu Yamamoto The sweepstakes ended late last night when the 25-year-old right-hander agreed to a 12-year deal with the Dodgers worth $325 million. The massive number is a record for free-agent pitchers other than the two-way superstar Shohei Ohtaniwho struck a $700 million deal in Los Angeles earlier this month that included massive deferrals that reduced today's value to around $460 million, exceeding it Gerrit ColeNine years, $324 million guaranteed with the Yankees.
Among the most aggressive applicants for Yamamoto's services were the Dodgers and the two New York teams. Both the Yankees and Mets met with Yamamoto several times and reportedly made offers that matched or exceeded LA's in terms of aggressiveness. Previous reports indicated that the Mets offered Yamamoto a matching guarantee of $325 million, while the Yankees offered $300 million over just ten years, bringing the average annual value of the deal to $30 million. Following Yamamoto's decision to move to Los Angeles, more details have emerged about both clubs' ultimately unsuccessful efforts to land the right-hander.
According to Ken Rosenthal of The Athletic, the Yankees' offer to Yamamoto exceeded the Dodgers' in several key areas, although the total guarantee was $25 million lower. In addition to the higher AAV mentioned above, Rosenthal states that the Yankees were willing to offer Yamamoto opt-outs after the 2028 and 2032 seasons, both a year earlier than the opt-outs he had in his contract in the West received. The differences between these offerings are more significant than they might seem at first glance. Had Yamamoto signed in the Bronx, he would have had the opportunity to hit free agency a second time before his 30th birthday, while his contract with the Dodgers gives him the first chance to get out after his age-30 season. In general, players under the age of 30 are considered far more attractive candidates for long-term contracts than older players.
In addition to the potentially more lucrative opt-out situation, the Yankees' offer to Yamamoto was not subsequently moved, as is reportedly the case with his deal with the Dodgers. That the contract that Yamamoto ultimately agreed to is subsequently postponed is not an insignificant factor; Not only does that mean the deal's today's value is somewhat diminished, it also means Yamamoto would be leaving more of his guaranteed money on the table if he opts out of his contract with the Dodgers. There would be no such concerns with the Yankees' offer.
As for the Mets, Mike Puma of the New York Post states that the club's 12-year, $325 million offer to Yamamoto “was among the first” the right-hander received and that the club has no chance to improve this offer. However, Puma further points out that the club may not have raised its bid significantly above that $325 million amount, as a deal would see the club pay an agency fee of around $50 million to Yamamoto's NPB team, the Orix Buffaloes, would have owed .
The Mets have long been expected to largely avoid top-tier bidding wars for starters this offseason by waiving Yamamoto, and club owner Steve Cohen appeared to confirm that stance in a call with reporters today. As Puma shared, Cohen discussed a more cautious approach to free agency this offseason than in previous seasons under his leadership.
“We will be thoughtful, not impulsive, and think about sustainability in the medium term, but not focus on making headlines next week,” Cohen said. “I think there are several ways to build a team… We're going to build it. It will happen. Slowly and surely you will see changes and improvements.”
Such an approach to the 2023-24 offseason seemed to be a possibility in Queens since the veteran right-hander Max Scherzer pointed out last summer that the club viewed 2024 as “a sort of transition year,” with 2025 and 2026 being the club’s real focus in terms of returning to competition. Since then, the club's pursuit of Yamamoto has largely taken center stage as the club has made smaller moves on the periphery, he added Luis Severino And Joey Wendle in free agency upon collection Adrian Houser And Tyrone Taylor in trade.
One factor that may have helped the Dodgers in their pursuit of Yamamoto, as discussed by Rosenthal, is the $50 million signing bonus he will receive as part of the deal. Rosenthal notes that Yamamoto's bonus, paid in full in 2024, would not be subject to California state taxes as long as he is not a resident of the state. This structure could reportedly save the right-hander up to $7.2 million. Perhaps even more valuable than those savings would be the Dodgers' unique position to facilitate his move to the majors. NPB teams typically use six-man rotations, with starters expected to pitch only once a week, making the move to MLB a significant increase in the workload for foreign teams.
As Mike DiGiovanna of the LA Times noted, with Ohtani expected to return this season, it's almost guaranteed that the Dodgers are planning on a six-player rotation for the 2025 season. The lighter workload could help Yamamoto stay healthy throughout his big league career, which DiGiovanna said may be scouts' main concern about his future in the majors due to his undersized frame at 5-foot-10 and 176 pounds . Of course, there is no guarantee that such an agreement will be on the cards for the Dodgers in 2024, when Ohtani will undergo UCL surgery. Still, DiGiovanna points out that the Dodgers' starters took regular rest in just 42 regular-season games last season, leaving the door open for Yamamoto to build additional rest days into his schedule even if the club doesn't take a proper break Six-man rotation.