Japanese baseball player Shohei Ohtani has made history by signing a record-breaking $700 million contract with the Los Angeles Dodgers. The 10-year deal was announced on Saturday after days of speculation over Ohtani's future, as he had spent the previous six seasons with the Los Angeles Angels. Ohtani's agent, Nez Balelo, described the contract as “unique” and “historic” for both the player and the team. Ohtani's salary of $70 million per year is 62% higher than the previous record held by pitchers Max Scherzer and Justin Verlander. It also exceeds the entire payrolls of Baltimore and Oakland this year. This contract is among the largest in the history of sports worldwide, but Cristiano Ronaldo still holds the highest annual take-home pay with his reported $200 million per year deal with Saudi side Al Nassr.

In a statement on Instagram, Ohtani apologized for taking so long to make his decision and expressed his gratitude to the Angels organization and its fans for their support over the past six years. He also pledged to always do what's best for the Dodgers and strive to be the best version of himself for the team and the baseball world. As of now, the Dodgers have not made any comments regarding the signing.

Shohei Ohtani is considered a generational star in baseball and his signing with the Dodgers marks the biggest free agent deal in the sport's history. Ohtani made the announcement on his Instagram account, apologizing for the delay in making a decision and revealing that he had chosen the Dodgers as his next team. The 10-year, $700 million contract surpasses the previous records set by players like Mike Trout, Aaron Judge, and Bryce Harper. The deal is contingent on Ohtani passing a physical, a standard procedure given the high stakes involved.

Ohtani's unique skill set as a two-way player sets him apart from other baseball players. He is both a pitcher and a designated hitter, a combination rarely seen since Babe Ruth's time. Despite suffering an injury to his right elbow, Ohtani still managed to win his second American League MVP this past season, with impressive batting and pitching performances. In 2024, Ohtani will focus solely on hitting before returning to his two-way play in 2025.

The Dodgers made a significant financial investment in Ohtani due to his exceptional talent and the impact he can have on the game. Ohtani's ability to excel both as a pitcher and a hitter has garnered attention and admiration from fans and experts alike. This historic contract solidifies Ohtani's status as one of the game's greatest stars and sets a new benchmark for future contracts in baseball.