In a historic move, Shohei Ohtani, the two-way star, has signed a groundbreaking 10-year contract worth a record-breaking $700 million with the Los Angeles Dodgers. The news was announced by Ohtani's agent, Nez Balelo, in a midafternoon press release on Saturday, finally putting an end to months of speculation surrounding Ohtani's free agency.

The magnitude of Ohtani's contract is unprecedented in the world of baseball, surpassing the previous record set by Mike Trout's $426.5 million deal. Ohtani's average annual salary of $70 million also surpasses the previous high of $43,333,333 held by Max Scherzer and Justin Verlander.

The contract includes deferred money, allowing the Dodgers more flexibility with their luxury tax payroll. The details of the deferrals were not announced but were described as “unprecedented” by a source familiar with the agreement.

Ohtani's decision to join the Dodgers comes after six seasons with the Los Angeles Angels, where he established himself as one of the most dynamic players in the game. His achievements both on the mound and at the plate have redefined modern baseball, earning him two American League MVP awards and solidifying his position as one of the sport's elite players.

Despite his individual success, Ohtani has never made the playoffs or played on a winning team in the majors. The Angels, under owner Arte Moreno, have consistently underperformed, failing to win more than 80 games or finish higher than third in the AL West during Ohtani's tenure alongside Trout.

In his statement on Instagram, Ohtani expressed his gratitude to the Angels organization and the fans who have supported him throughout his career. He also pledged to always do what's best for the Dodgers and strive to be the best version of himself until the last day of his playing career.

Joining a lineup that already includes MVPs Mookie Betts and Freddie Freeman, Ohtani's arrival further solidifies the Dodgers' status as one of the most formidable teams in the game. Their acquisition of Ohtani, along with the potential signing of Japanese ace Yoshinobu Yamamoto, puts them in a strong position moving forward.

Ohtani's decision to join the Dodgers marks a significant moment in MLB history. The highly anticipated free agency concluded with Ohtani's record-breaking contract, providing a much-needed boost to the market. With other marquee names like Cody Bellinger, Blake Snell, Josh Hader, and Jordan Montgomery still available, Ohtani's signing is expected to kickstart further offseason moves.

The Dodgers, who were considered favorites to sign Ohtani due to their location and financial resources, will undoubtedly benefit from his immense talents. While his pitching future remains uncertain due to his recent elbow injury, his inclusion as a designated hitter adds another dimension to an already potent lineup.

Ohtani's decision to leave the Angels after six seasons marks a significant shift in the baseball landscape. He leaves behind a legacy of transcendent success and marketability, forever changing the perception of what a player can accomplish on the field.

As Ohtani begins his new chapter with the Dodgers, fans and baseball enthusiasts alike eagerly await the press conference where he will discuss his decision and what lies ahead. The impact of his move will be felt not only in Los Angeles but throughout the baseball world.