NEW YORK (AP) — Shohei Ohtani has set a financial record with his unique performance on the field, receiving $700 million to make a 30-mile climb up Interstate 5 to the Los Angeles Dodgers.
His agent, Nez Balelo, issued a press release Saturday afternoon announcing the 10-year deal, ending months of speculation that began before Ohtani became a free agent on Nov. 2. In recent days, media and fans had been tracking the movements of private planes and alleged sightings like detectives attempting to discern the two-time AL MVP's intentions with the Angels.
“This is a unique, historic contract for a unique, historic player,” Balelo said. “He is excited to begin this partnership and has structured his contract to reflect both parties’ genuine commitment to long-term success.”
Ohtani's total was 64% higher than baseball's previous record, a 12-year, $426.5 million contract for Angels outfielder Mike Trout that began in 2019.
His average salary of $70 million is 62% higher than the previous high of $43,333,333 shared by pitchers Max Scherzer and Justin Verlander on contracts with the New York Mets. Ohtani's average salary nearly doubles the roughly $42.3 million he earned with the Angels. It also exceeds the entire payrolls of Baltimore and Oakland this year.
His agreement includes unprecedented deferred funds that reduce the amount that counts against the Dodgers' luxury tax payroll, a person familiar with the agreement told The Associated Press. The person spoke on condition of anonymity because details were not disclosed.
“He has structured his contract to reflect the genuine commitment from both sides to long-term success,” Balelo said. “Shohei and I would like to thank all the organizations that have reached out to us for their interest and respect, especially the wonderful people we have gotten to know even better throughout this process.”
This is perhaps the biggest contract in the history of the sport, probably surpassing football stars Lionel Messi and Kylian Mbappé.
There was no immediate comment from the Dodgers. Ohtani has not spoken to reporters since August 9.
“I apologize that it took me so long to come to a decision,” Ohtani said in an English-language statement on Instagram. “I would like to express my sincere gratitude to everyone involved in the Angels organization and the fans who have supported me over the last six years, as well as everyone from each team who has been a part of this negotiation process.”
“And to all Dodgers fans, I promise to always do what’s best for the team and to continue to do my best to be the best version of myself,” he continued. “Until the last day of my playing career, I want to continue to strive forward not only for the Dodgers, but also for the baseball world.”
Ohtani joins a roster that also includes 2018 AL MVP Mookie Betts and 2020 NL MVP Freddie Freeman. The Dodgers won the NL West this year for the 10th time in 11 seasons before being defeated by Arizona in the Division Series in October.
Los Angeles begins the 2024 season against San Diego on March 20-21 in Seoul, South Korea.
Ohtani's decision came six years and one day after he first agreed to his Angels deal.
Ohtani has redefined modern baseball since selecting the Angels as his first major league team. No one has come close to matching his success at the plate and on the mound and, when healthy, has become one of the majors' elite players in both roles. Over time, he has become one of the most marketable athletes in the world, a force when it comes to ticket sales, TV ratings and sponsorship revenue.
He was the AL's unanimous MVP in 2021 and 2023 – he finished second in 2022 – and won this year despite an elbow injury in late August and an oblique muscle injury in early September.
Before his 30th birthday on July 5, he has a .274 average with 171 home runs, 437 RBIs and 86 stolen bases, and a record of 39-19 with a 3.01 ERA and 608 strikeouts in 481 2/3 innings. According to Baseball-Reference, Ohtani has 34.7 wins above replacement (WAR).
The Halos are a perennial contender in both the AL standings and the Los Angeles market, but they acquired Ohtani's services in late 2017, in part by promising him the freedom to practice and play as he wanted. Ohtani immediately stunned the entire sport in 2018, batting .285 with 22 homers and 61 RBIs as a designated hitter and going 4-2 with a 3.31 ERA and 63 strikeouts.
Ohtani won AL Rookie of the Year honors in 2018 despite making only one pitching appearance after early June due to a ligament injury in his elbow that required postseason Tommy John surgery. Ohtani made only two appearances over the next two years while continuing to play as the Angels' DH.
When his arm was finally healthy in 2021, Ohtani put together a season for the ages.
He won the AL MVP award with 46 home runs and 100 RBIs at the plate while going 9-2 with a 3.18 ERA on the mound. He improved as a pitcher in 2022, going 15-9 with a 2.33 ERA and a 1.01 WHIP while still allowing 95 runs at the plate, but finished behind Aaron Judge in the MVP voting, after the Yankees star hit an AL record 62 home runs.
After winning the MVP award at the World Baseball Classic last March while leading Japan to victory – he beat Trout to close out the tournament – Ohtani maintained his two-way prowess this year, hitting 44 home runs a career-high 1.066 OPS while hitting 10-5 with a 3.14 ERA before tearing his elbow ligament again on August 23. After September 3rd, he no longer scored due to the right oblique muscle strain.
In addition to his elbow injuries, Ohtani's outstanding success was hit with another significant setback: He never made the playoffs or even played on a winning team in the majors. Owner Arte Moreno's Angels have not won more than 80 games or finished higher than third in the AL West during his tenure alongside Trout, a three-time AL MVP and a consistently disappointing cast of supporting players.
Ohtani earned $42,269,259 in his six seasons with the Angels. After receiving a $2,315,000 signing bonus in his first contract, he had salaries of $545,000, $650,000, $259,259 (in the pandemic-shortened 2020 season), $3 million -dollars, $5.5 million and $30 million.
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