{"id":14334,"date":"2023-12-12T17:08:03","date_gmt":"2023-12-12T14:08:03","guid":{"rendered":"https:\/\/wikidollar.net\/14334\/dodgers-announce-ohtani-signing-680m\/"},"modified":"2023-12-12T17:08:04","modified_gmt":"2023-12-12T14:08:04","slug":"dodgers-announce-ohtani-signing-680m","status":"publish","type":"post","link":"https:\/\/wikidollar.net\/?p=14334","title":{"rendered":"Dodgers announce Ohtani signing; $680M of deal deferred, sources say"},"content":{"rendered":"<p>Dodgers announce Ohtani signing; $680M of deal deferred, sources say\u060c<\/p>\n<div>\n<div class=\"article-meta\">\n<ul class=\"authors\">\n<li class=\"mugshot-shown\">\n<div class=\"author-img\"><\/div>\n<p>Alden Gonzalez, ESPN editor<span class=\"timestamp \">December 11, 2023, 11:31 p.m.<\/span><\/p>\n<div class=\"author-overlay\">Close<\/p>\n<ul>ESPN baseball reporter.  Covered the LA Rams for ESPN from 2016 to 2018 and the LA Angels for MLB.com from 2012 to 2016.<\/ul>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<p>Shohei Ohtani&#39;s historic contract with the Los Angeles Dodgers will allow him to defer $68 million of his $70 million annual salary, sources familiar with the matter said Monday, which would significantly reduce payroll and tax burden potential of his new team.<\/p>\n<p>The Dodgers announced Monday they had signed the two-time MVP, after Ohtani agreed Saturday to a 10-year, $700 million contract, by far the richest in the history of North American professional sports.  A source then declared that the majority of the contract would be paid in deferred money;  However, under this structure, Ohtani defers more than 97% of its revenue.  The deferred money \u2013 totaling $680 million \u2013 will be paid to Ohtani between 2034 and 2043, a source said.<\/p>\n<p>The postponements were Ohtani&#39;s idea, a source familiar with the matter said, driven largely by the idea of \u200b\u200bhelping the Dodgers sign other players and facilitated by his huge off-the-field earnings.  Ohtani reportedly earns more than $45 million a year from sponsorships, a source said, making him clearly the most marketable player in Major League Baseball.  The Los Angeles Angels were thought to make over $20 million per year from that same market value during his tenure there.<\/p>\n<aside class=\"inline editorial float-r\" data-behavior=\"article_related\">\n<h2 class=\"editorial-title\">Editor&#39;s Choice<\/h2>\n<p>2 Related<\/p>\n<\/aside>\n<p>\u201cDodgers fans, thank you for welcoming me to your team,\u201d Ohtani said Monday in the team\u2019s press release.  \u201cI can say 100 percent that you, the Dodgers organization and I share the same goal: bringing World <a class=\"wpil_keyword_link\" href=\"https:\/\/wikidollar.net\/tag\/series\/\"   title=\"Series\" data-wpil-keyword-link=\"linked\">Series<\/a> parades to the streets of Los Angeles.\u201d<\/p>\n<p>Ohtani&#39;s cost to the Dodgers&#39; competitive fiscal balance \u2014 which typically uses the average annual value of contracts, in this case $70 million, but reduces deferred money \u2014 will be about $46 million after each season .  That puts the combined cost of Ohtani, Freddie Freeman and Mookie Betts on the CBT payroll at around $100 million per year.  The luxury tax threshold rises to $237 million in 2024.<\/p>\n<p>The collective bargaining agreement does not set a limit on the amount of money that can be deferred, but teams must set aside the current value of the deferred money \u2014 in Ohtani&#39;s case, about $44 million in cash each year &#8211; in an escrow account.<\/p>\n<p>The Dodgers created a 40-<a class=\"wpil_keyword_link\" href=\"https:\/\/wikidollar.net\/tag\/man\/\"   title=\"man\" data-wpil-keyword-link=\"linked\">man<\/a> roster Monday morning for Ohtani and relief pitcher Joe Kelly by sending reliever Victor Gonzalez and infielder Jorbit Vivas to the New York Yankees in exchange for the shortstop prospect Trey Sweeney.<\/p>\n<p>\u201cOn behalf of the LA Dodgers and our fans around the world, we welcome Shohei Ohtani to the Dodgers, the home of Jackie Robinson, Sandy Koufax and Hideo Nomo, three of the most legendary and innovative players in sports,\u201d said said Mark Walter, president of the Dodgers.  and Guggenheim Baseball Management, said in the team&#39;s release.  Shohei is a once-in-a-generation talent and one of the most <a class=\"wpil_keyword_link\" href=\"https:\/\/wikidollar.net\/tag\/exciting\/\"   title=\"exciting\" data-wpil-keyword-link=\"linked\">exciting<\/a> professional athletes in the world. Our players, staff, management and owners look forward to working with Shohei to help the Dodgers continue to add, improve and strive for excellence on the field. Together with Shohei, we will work to help increase the number and scope of people around the world who enjoy the excitement of Major League Baseball.<\/p>\n<p>The Angels, with whom Ohtani spent the first six seasons of his MLB career, bid him farewell on social media Monday evening.<\/p>\n<p>\u201cShohei Ohtani is a generational player and it was an honor to watch him make history throughout his six seasons in an Angels uniform,\u201d the team said.  &#8220;We feel extremely fortunate that Angels fans were able to watch him redefine what is possible in our sport. We thank Shohei for his many contributions to our franchise and to baseball. We wish him the best in the next chapter of his career .&#8221;<\/p>\n<p>The Athletic was first to report the details of Ohtani&#39;s postponements.<\/p>\n<p><em>ESPN&#39;s Jeff Passan contributed to this report.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dodgers announce Ohtani signing; $680M of deal deferred, sources say\u060c Alden Gonzalez, ESPN editorDecember 11, 2023, 11:31 p.m. Close ESPN baseball reporter. Covered the LA Rams for ESPN from 2016 to 2018 and the LA Angels for MLB.com from 2012 to 2016. Shohei Ohtani&#39;s historic contract with the Los Angeles Dodgers will allow him to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14335,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7507,4061,442,7508,4540,5285,1141,883],"class_list":["post-14334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-sports","tag-680m","tag-announce","tag-deal","tag-deferred","tag-dodgers","tag-ohtani","tag-signing","tag-sources"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/posts\/14334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wikidollar.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14334"}],"version-history":[{"count":1,"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/posts\/14334\/revisions"}],"predecessor-version":[{"id":14336,"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/posts\/14334\/revisions\/14336"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wikidollar.net\/index.php?rest_route=\/wp\/v2\/media\/14335"}],"wp:attachment":[{"href":"https:\/\/wikidollar.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wikidollar.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wikidollar.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}