Shohei Ohtani agrees to record $700 million deal with Dodgers

Shohei Ohtani has not only achieved unparalleled success on the field but has now set a groundbreaking financial record, securing a staggering $700 million deal as he makes the 30-mile journey up Interstate 5 to join the Los Angeles Dodgers.

Nez Balelo, his agent, put an end to months of speculation with a midafternoon news release on Saturday, officially announcing the 10-year contract. The anticipation surrounding Ohtani’s decision had kept media and fans on edge, leading them to track private plane movements and speculate on sightings like detectives eager to uncover the intentions of the two-time AL MVP with the Angels.

Balelo commented on the historic nature of the deal, stating, “This is a unique, historic contract for a unique, historic player. He is excited to begin this partnership, and he structured his contract to reflect a true commitment from both sides to long-term success.”

Shohei Ohtani just signed the richest deal in sports history (10 years $700 million).

Here’s how much he will actually earn: 😲

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$70M: Salary
–
$25.9M: Federal Tax
$4.65M: California Tax
$2.1M: Agent Fee
$2.0M: Jock Tax
$1.64M: FICA/Medicare
=
$33.6M: Net Income pic.twitter.com/CcyeDkA92p

— Andrew Petcash (@AndrewPetcash) December 9, 2023

Ohtani’s monumental agreement surpassed baseball’s previous record, a $426.5 million, 12-year deal for Angels outfielder Mike Trout that commenced in 2019. With an average salary of $70 million, Ohtani’s earnings outshine the prior high of $43,333,333, jointly held by pitchers Max Scherzer and Justin Verlander through their deals with the New York Mets. Notably, Ohtani’s average salary is nearly double the approximately $42.3 million he earned with the Angels and even surpasses the entire payrolls of Baltimore and Oakland for the current year.