Shohei Ohtani will receive just US$20 million of his $700 million contract with the Los Angeles Dodgers over the next 10 years, with $680 million payable from 2034-43 in an unusual structure that gives the team greater payroll flexibility in coming seasons.
Ohtani's record-setting deal, agreed to Saturday, calls for annual salaries of $70 million, according to details obtained by The Associated Press. Of each year's salary, $68 million is deferred with no interest, payable in equal installments each July 1 from 2034-43.
For purposes of baseball's luxury tax, the contract is valued as a yearly addition to the Dodgers' payroll of about $46 million. Under the collective bargaining agreement, for the calculation of a team's tax payroll the value of deferred money is discounted at the federal mid-term rate. For all agreements this offseason, the discounting will be at the October 2023 rate of 4.43%.
A unique two-way superstar as both a hitter and pitcher, the 29-year-old Ohtani left the Los Angeles Angels as a free agent to sign with the Dodgers in a deal they announced Monday night.
"Dodger fans, thank you for welcoming me to your team," Ohtani said in a statement released by the club. "I can say 100 percent that you, the Dodger organization and I share the same goal -- to bring World Series parades to the streets of Los Angeles."
Ohtani's contract, combined with those of Mookie Betts and Freddie Freeman, raises the Dodgers' total of deferred money owed to the three to $857 million from 2033-44.
Betts has a $365 million deal covering 2021-32 that includes $115 million in deferred salaries payable from 2033-44 and has the final $5 million of his signing bonus payable from 2033-35.
Freeman has a $162 million, six-year deal for 2022-27 that includes $57 million in deferred money payable from 2028-40.
Los Angeles' high points of the deferred payments are 2038 and '39, when the trio will be owed $83 million, and 2040, when they will be due $84 million.
By receiving the vast majority of the money when he presumably will not be living in the United States, Ohtani also figures to have a tax benefit. California's top tax rate for residents is 13.3%.
The two-time AL MVP has a string of endorsement deals that significantly add to his earnings beyond his baseball salary.
"On behalf of the L.A. Dodgers and our fans everywhere, we welcome Shohei Ohtani to the Dodgers, the home of Jackie Robinson, Sandy Koufax and Hideo Nomo, three of the sport's most legendary and pathbreaking players," said Mark Walter, chairman of the Dodgers and Guggenheim Baseball. "Shohei is a once-in-a-generation talent and one of the most exciting professional athletes in the world."
Ohtani's total dollars are 64% higher than baseball's previous record, a $426.5 million, 12-year deal for Angels outfielder Mike Trout that began in 2019.
His $70 million average salary is 62% above the previous high of $43,333,333, shared by pitchers Max Scherzer and Justin Verlander with deals they struck with the New York Mets. Ohtani's average salary nearly doubles the roughly $42.3 million he earned with the Angels. It also exceeds the entire payrolls of Baltimore and Oakland this year.
However, for the luxury tax he will count only slightly more than Aaron Judge, who is a $40 million annual charge to the Yankees' payroll as he enters the second season of a $360 million, nine-year contract.
"Shohei Ohtani is a generational player and it was an honor to watch him make history throughout the six seasons he spent in an Angels uniform," the Angels posted on X, the social media platform formerly known as Twitter.
"We feel extremely fortunate that Angels fans were able to witness him redefine what is possible in our sport. We thank Shohei for his many contributions to our franchise and the game of baseball. We wish him the best during the next chapter of his career."
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada’s institutions are slipping down its list.
Andrew Garfield’s ability to so lovingly and poetically express his grief for his mother, Linda, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
Hurricane Milton churned Wednesday toward a potentially catastrophic collision along the west coast of Florida, where some residents insisted they would stay after millions were ordered to evacuate and officials warned that stragglers would face grim odds of surviving.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
A British Columbia provincial court judge says a Boston Bar man who shot a teacup Chihuahua named Bear claiming it was menacing his chickens was not justified in killing the animal.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada’s institutions are slipping down its list.
On September 11, Madeleine Gervais was the victim of a theft in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
Vancouver police say they are conducting an investigation into a pro-Palestinian protest where they say speakers expressed "solidarity with terrorist groups."
A British Columbia provincial court judge says a Boston Bar man who shot a teacup Chihuahua named Bear claiming it was menacing his chickens was not justified in killing the animal.
More than two weeks have passed since Hassan Ali walked out of a Toronto courtroom a free man, after prosecutors decided not to move forward with a first-degree murder trial against the local rapper.
As the war in Gaza escalates, Nabila Manna watches from her home with feelings of fear and helplessness. Her mother, siblings, and extended family are all in Gaza.
The FBI has arrested an Afghan man who officials say was inspired by the Islamic State and was plotting an Election Day attack targeting large crowds in the U.S., the Justice Department said Tuesday.
Florida gas stations struggled to keep up with demand Tuesday as long lines and empty pumps compounded the stress for residents planning to hunker down or flee as Hurricane Milton approached the state's western coast.
The Dominican Republic said Tuesday it has deported or repatriated nearly 11,000 Haitians in the past week, fulfilling a pledge to do so weekly as neighboring Haiti scrambles to handle the influx while besieged by gang violence and poverty.
Donald Trump has had as many as seven private phone calls with Vladimir Putin since leaving office and secretly sent the Russian president COVID-19 test machines during the height of the pandemic, Bob Woodward reported in his new book, 'War.'
A former New York City official was charged Tuesday with witness tampering and destroying evidence in a federal investigation that led to Mayor Eric Adams’ bribery indictment. The arrest came amid yet more high-profile departures from Adams' administration as federal prosecutors delve deeper into allegations that the mayor was involved in a coverup.
Hurricane Milton churned Wednesday toward a potentially catastrophic collision along the west coast of Florida, where some residents insisted they would stay after millions were ordered to evacuate and officials warned that stragglers would face grim odds of surviving.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
Former cabinet minister Marc Garneau, who describes himself in his new book as always-a-Liberal, 'but a decidedly blue one,' says he hopes the party still has room for someone like him.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The Ontario Ministry of Health says four people have been sickened after consuming beef tongue believed to be contaminated with listeria.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
The Brazilian Supreme Court's Justice Alexandre de Moraes on Tuesday authorized the restoration of social media platform X´s service in Brazil, over a month after its nationwide shutdown, according to a statement posted on the court's website.
Geoffrey Hinton, the British Canadian computer scientist whose machine learning discoveries have proved so profound he's known as the 'godfather of AI,' has won the Nobel Prize in physics.
A device used by researchers with Fisheries and Oceans Canada appears to have been the victim of an attack by a great white shark 300 metres under water off the coast of Nova Scotia.
Andrew Garfield’s ability to so lovingly and poetically express his grief for his mother, Linda, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
Jenna Fischer is highlighting Breast Cancer Awareness Month by sharing that she is now 'cancer free' after she was diagnosed with the disease in October 2023.
Sum 41 lead singer Deryck Whibley alleges in his new memoir that he was pressured into a secret sexual relationship with his former manager, Treble Charger frontman Greig Nori.
As Hurricane Milton makes its way towards Florida, the storm has forced Orlando's theme parks to adjust. Here's a look at what's happening with Universal Resort, SeaWorld and Walt Disney World.
A man who showed up at a rental car company only to be told his online reservation would not be honoured is entitled to compensation, B.C.'s small claims tribunal has ruled.
Inflation and higher interest rates have eroded Canadians' purchasing power since 2022, particularly for lower-income households, a new report from the parliamentary budget officer has found.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
A Winnipeg baker is hanging up his apron permanently because he won the lottery.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
The NFL's Tampa Bay Buccaneers and NHL's Tampa Bay Lightning have left Florida ahead of Hurricane Milton to practice the rest of the week.
RJ Barrett will miss the rest of the Toronto Raptors' pre-season with an injury.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new “incubator programâ€. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
New data from the Insurance Bureau of Canada (IBC) shows that even though claims for auto theft dropped in the first half of 2024 compared to their 2023 peak, the rates of reported theft remain well above those of years prior.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
A B.C. couple is getting desperate – and creative – in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the ‘Batman of Amherst,’ always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi’s Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
Manitobans are in cleanup mode after intense winds barreled through southern parts of the province this weekend.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Some sparks flew during Tuesday night’s televised leaders’ debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians’ minds ahead of election night, including housing, health care, the cost of living and public safety.
An open letter signed by 23 doctors and one nurse practitioner in B.C.’s Lower Mainland highlights their concerns about the potential for cuts to the health-care system if John Rustad’s Conservatives form government after this month’s provincial election.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
Another beluga whale has died at Marineland and four years into a provincial probe, Ontario's solicitor general is saying little about the investigation's progress.
Four people have been transported to hospital following a collision near Toronto’s Forest Hill neighbourhood early Wednesday morning, paramedics say.
Calgary police are searching for a suspect or suspects in a stabbing that occurred in the city's southeast on Tuesday evening.
If you were outside and looked up Monday night, you likely witnessed one of Mother Nature's most spectacular displays.
A teen recording artist from Fernie, B.C., who made music with the Flaming Lips has died. Nell Smith's family confirmed her death in a social media post earlier this week.
As thousands of Canadians are on the hunt for deals during Amazon Prime Day this week, cybersecurity experts are sounding the alarm over an increase in fraudsters posing as the company online.
On September 11, Madeleine Gervais was the victim of a theft in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
OC Transpo officials are satisfied with the start of a critical testing period required before opening Ottawa's new north-south train, despite some technical issues being identified on three trains on Monday.
The Quebec government is facing criticism for a program that paid students to learn a construction skill -- as less than half the graduates are certified to work in the industry.
The Montreal women's professional soccer franchise unveiled the team's name and logo on Tuesday night, projecting the new emblem and the club's blue, red and gold colours around an event space near the city's Old Port. They will be the Roses FC.
A 38-year-old Beaumont resident is dead after a crash involving a motorcycle over the weekend.
Edmonton's transit system is seeing record usage, with six million trips taken in September.
One of Alberta Premier Danielle Smith’s key advisers and the driving force behind the province’s recovery-focused addiction treatment policy is leaving the job.
International award-winning editorial cartoonist Michael de Adder has been cut from the Halifax Chronicle Herald.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
A labour investigator has agreed with federal fishery officers that heavily armed criminals pose a threat to their lives and has ordered managers to take steps immediately to reduce the danger.
Concerns are being raised over a questionable PC campaign expense, after an invoice for a car rental was submitted by a company advertising sex and intimacy coaching.
There’s a new starting line-up at Canada Life Centre, which hockey fans and concertgoers will notice as soon as they walk in.
Manitoba RCMP and the Winnipeg Police Service are launching Manitoba's Most Wanted website.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week.
The John Howard Society of Saskatchewan (JHSS) appeared in the Supreme Court of Canada Tuesday challenging a regulation that it says lets provincial correctional workers discipline inmates without sufficient proof.
A memo from the Saskatchewan Government Employees Union (SGEU) has painted a picture of healthcare workers on the brink – with under-staffing and burnout directly impacting quality of patient care within the Saskatchewan Cancer Agency (SCA).
Fire crews were called to respond to Mohawk Plaza shortly before 2 a.m. Tuesday.
The future of a hybrid shelter in Waterloo is up for discussion.
An app developed at the University of Guelph is aimed at making accessible doors more accessible.
The province’s consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
In the wake of a near-fatal overdose at the doorstep of Saskatoon’s safe consumption site last week, the province’s political leaders are weighing in with their strategies to help those struggling with drug addiction.
A Saskatoon mom is desperately fighting eviction after she discovered mould in her suite and reported it to her landlord.
A crash Tuesday afternoon on Highway 144 has closed the road north of Sudbury.
After reaching peak intensity with wind speeds of 180 m.p.h. (285 km/h) on Monday night, Milton became the strongest storm on our planet for 2024.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
Drivers and businesses along Wellington Street in London’s downtown area continue to feel the pain as the city works on the downtown loop for the bus rapid transit project (BRT).
City hall’s restoration of the People and the City monument has been stalled since early 2022, and a plan to resume the project next spring requires more money.
A person remains in serious condition in hospital after being shot during a gas station robbery.
A 20-year-old man who was behind the wheel of a speeding car that struck and killed an international student in Barrie last summer pleaded guilty to dangerous driving causing death on Tuesday but will not spend any time behind bars.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
In February, council voted to convert the property into new high-density housing — meaning the new development would have a minimum of 109 units.
Several cars are being pulled out of the Detroit River in west Windsor.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Some sparks flew during Tuesday night’s televised leaders’ debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians’ minds ahead of election night, including housing, health care, the cost of living and public safety.
A retrial date has been set for a man accused of fatally shooting a rival gang member and an innocent teen passerby in Vancouver in 2018.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
NDP Leader David Eby is promising to offer a $75-million loan forgiveness program to entice doctors, nurses and heath professionals to expand health-care services in rural British Columbia.
Charges have been laid against a 44-year-old man following a traffic stop in Brocket, Piikani Nation RCMP said Tuesday.
A metal fabrication company west of Medicine Hat has been fined by Alberta Occupational Health and Safety (OHS) following a workplace fatality in 2023.
A Lethbridge police officer involved in a scandal involving former Lethbridge New Democrat MLA Shannon Phillips has been reprimanded.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
The Federation of Northern Ontario Municipalities (FONOM) is the latest organization to call on the Doug Ford government to re-open dialogue with an airline service that transports lower-income Canadians to crucial medical care far from home.
For decades, Mississauga First Nation has known that human remains from their land were at the Canadian Museum of History.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.
