09 December 2023 , 23:10
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Shohei Ohtani, the MLB superstar, has inked the biggest contract in sports history after choosing to join the Los Angeles Dodgers.
His deal with the Los Angeles Angels ended after the 2023 season, making the most valuable player in MLB a free agent. The decision came down to the Dodgers and the Toronto Blue Jays, but Ohtani chose to stay in Los Angeles, signing a whopping 10-year, £558 million contract.
This deal is the largest in MLB by £239 million and the biggest guaranteed contract in sports so far. Ohtani now holds the record for the largest contract in US sports, surpassing football legends Cristiano Ronaldo and Lionel Messi.
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Ronaldo's contract with Al-Nassr in Saudi Arabia was worth £427.5m, while Messi's biggest contract with Barcelona from 2017-2021 was a four-year, £537m deal. Patrick Mahomes' record-breaking deal in US sports has been outshone by Ohtani's, with the Japanese star playing a key role in negotiating his own terms with the Dodgers.
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His average annual value of $70 million (£55m) is more than the projected 26-man payrolls of four MLB teams for the forthcoming season. His entire contract value is also worth more than the valuations of six NHL franchises.
ESPN reports that Ohtani's contract includes significant deferrals, mostly of his salary, an idea he proposed himself. The reason for the deferred payment is to lessen the competitive-balance-tax impact, allowing the Dodgers to build a stronger team around Ohtani and boost their chances of winning the World Series.
Ohtani is considered the best player in MLB (AP)It's a win-win for Ohtani, as he benefits financially and his new team has a great shot at the World Series. The Dodgers are currently joint favourites with the Atlanta Braves to win the 2024 World Series, both teams have odds of 13/2 on Betway. The Dodgers last won the World Series in 2020 after a 32-year drought, but they're ready to repeat their success.
Ohtani's choice is a setback for the Toronto Blue Jays, who once felt like they were leading the race to sign the two-time MVP. The $700 million offer was probably too steep for them, but signing Ohtani would've been a huge statement for Canadian sports, rather than him just being another big name in LA.
The Angels have suffered a massive blow, losing the most valuable player in MLB to free agency. This leaves fellow All-Star Mike Trout without a star teammate and puts their 2024 World Series odds at 66/1, hinting at a possible rebuild.
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