Shohei Ohtani has secured a historic financial record to complement his extraordinary on-field performance, sealing a monumental $700 million deal to make a 30-mile transition up Interstate 5 to join the Los Angeles Dodgers.
His agent, Nez Balelo, released a statement on Saturday afternoon confirming the 10-year contract, concluding months of speculation that had commenced even before Ohtani entered free agency on November 2. In the days leading up to the announcement, media and fans closely monitored private plane movements and speculated sightings, akin to detectives, in an attempt to unravel the intentions of the two-time AL MVP with the Angels.
“This is a unique, historic contract for a unique, historic player,” Balelo remarked. “He is excited to begin this partnership, and he structured his contract to reflect a true commitment from both sides to long-term success.” a historic financial record
Shohei Ohtani’s groundbreaking contract reached a staggering $700 million, marking a 64% increase over baseball’s prior record. The former record was held by Angels outfielder Mike Trout, who signed a $426.5 million, 12-year deal that commenced in 2019.
Shohei Ohtani’s extraordinary contract includes a remarkable $70 million average salary, which stands at a remarkable 62% above the previous highest average salary of $43,333,333 held by pitchers Max Scherzer and Justin Verlander in their deals with the New York Mets. This average salary nearly doubles Ohtani’s previous earnings of approximately $42.3 million with the Angels. Notably, Ohtani’s average salary even surpasses the entire payrolls of teams like Baltimore and Oakland this year.
Additionally, the agreement features unprecedented deferred money, a strategy that will reduce the amount counting toward the Dodgers’ luxury tax payroll. The details were not officially announced, but a source familiar with the agreement shared this information with The Associated Press, speaking on condition of anonymity.