Ohtani, Dodgers agree to 10-year, $700M deal

The wait is finally over.

Two-time AL MVP Shohei Ohtani is signing with the Los Angeles Dodgers, he announced Saturday.

The deal is for 10 years and $700 million, Ohtani's agent Nez Balelo said in a statement obtained by Chelsea Janes of The Washington Post.

"This is a unique, historic contract for a unique, historic player," Balelo said.

"Shohei is thrilled to be a part of the Dodgers organization. He is excited to begin this partnership, and he structured his contract to reflect a true commitment from both sides to long-term success."

The agreement comes with deferrals that Ohtani insisted on in order to minimize the Dodgers' competitive-balance tax costs, a source told ESPN's Alden Gonzalez.

There are no opt-outs in Ohtani's contract, according to The Athletic's Britt Ghiroli.

The Los Angeles Angels, Toronto Blue Jays, Chicago Cubs, and San Francisco Giants were reported to be the other finalists for Ohtani in what proved to be one of the most intriguing free-agent chases in MLB history.

The $700-million contract is the richest in MLB history, surpassing Mike Trout's 12-year, $426.5-million pact signed in 2019, and the richest in North American sports history ahead of Kansas City Chiefs quarterback Patrick Mahomes' 10-year, $450-million deal.

Ohtani will form one of the best offensive trios in the league alongside Dodgers stars Mookie Betts and Freddie Freeman. All three players ranked in the top 10 among hitters in fWAR, OPS, and wRC+ last season.

The Dodgers finished the 2023 campaign in disappointing fashion, as they were swept in three games by the Arizona Diamondbacks in the NLDS.

Ohtani won't pitch in 2024 after undergoing elbow surgery but is expected to resume being a two-way player in 2025.

The 29-year-old, who spent the previous six seasons with the Angels, hit .304/.412/.654 with 20 stolen bases, 44 home runs, and 1.066 OPS in 135 games last season while also posting a 3.14 ERA and 167 strikeouts over 132 innings.