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Shohei Ohtani signs with Dodgers: Live updates as two-way superstar inks record deal after wild free agency

Shohei Ohtani, the most anticipated free agent in Major League Baseball, announced on his Instagram on Saturday that he was joining the Los Angeles Dodgers. Ohtani's agent, CAA's Nez Balelo, subsequently confirmed that he had signed a 10-year pact worth $700 million, the richest contract in North American professional sports history.

Ohtani's decision to join the Dodgers follows months of speculation that they were the favorites to land him. Their exact positioning in the horserace became muddled in recent weeks with Ohtani's camp shrouding the process in secrecy. In the end, Ohtani still ended in the same destination, regardless of the interim route.

CBS Sports ranked Ohtani as the No. 1 free agent available this winter, writing the following:

Welcome to the most anticipated free agency in league history. Ohtani will not pitch next year after undergoing elbow surgery to correct a torn ulnar collateral ligament, yet he's expected to be in someone's lineup as a DH come Opening Day. (He's slated to return to the mound in 2025.) Ohtani is certain to receive a mammoth, record-breaking payday in the interim. Why wouldn't he? He's ranked in the top 10 in both ERA+ and OPS+ since debuting, and along the way has single-handedly shifted the Overton Window on two-way players. It's fair to wonder how his workload will change in the future -- perhaps he someday shifts to a relief role? -- but that's the risk you gladly stomach when you're blessed with the opportunity to sign the kind of anomaly who invokes references to Leon Day, Bullet Rogan, Martín Dihigo, and Babe Ruth. "Destiny is the music of the improbable," Kenneth Patchen once wrote. "Were it otherwise, almost anyone could exist." Make sure you find a way to enjoy Ohtani's tune this winter, even as the noise around him ramps up.

Ohtani, whose season as a pitcher ended because of elbow surgery, will not be available to pitch in 2024.

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Live updates
 

What about the non-favorites?

Most expect Ohtani to sign with the Dodgers, a perfect match of location, money and need for both parties. But what if that doesn't come to fruition? The Rangers and Cubs are getting a lot of attention these days, and the Giants desperately need star power. Click here for more.

MLB rumors: Mets could pivot to Yoshinobu Yamamoto if Shohei Ohtani off the table, Cubs eye Rhys Hoskins
Matt Snyder
 

Fun fits for Ohtani

Every team in baseball could use Shohei Ohtani. He's a middle-of-the-order slugger and an ace-level pitcher when healthy. He is a fit with every single team like no free agent before him. But what are the most fun fits? CBS Sports' Matt Snyder broke those down with six hopefuls.

Shohei Ohtani free agency: What two-way superstar can offer contending teams, plus six out-of-the-box hopefuls
Matt Snyder
 

Bold predictions: Ohtani to the ...

... Dodgers. OK so maybe that's not too bold, but CBS Sports' Mike Axisa listed Ohtani's potential new home as one of his 10 bold predictions for the MLB offseason. Axisa predicts Ohtani will get a 13-year deal worth a nice, even, $500 million. That figure would shatter current MLB records for the most guaranteed money ever. Check out all of his bold predictions below.

10 bold predictions for MLB offseason: Juan Soto to New York, Shohei Ohtani's new home, blockbuster deals
Mike Axisa
 

Ohtani No. 1 on top-50 list

No surprise here, but Shohei Ohtani is the No. 1 player on CBS Sports' list of the top 50 free agents this winter. Ohtani might turn out to be the most valuable player in baseball history, and his free agent contract is likely to reflect that. R.J. Anderson explains exactly why Ohtani is No. 1, plus he takes a look at 49 other players to watch this winter.

MLB free agency: Ranking top 50 players with Aaron Nola, Cody Bellinger in top five as market officially opens
R.J. Anderson
 

Ohtani sweepstakes could last a while

The most coveted member of the 2023-24 free agent class, Ohtani won't pitch next season as he recovers from an elbow procedure, but he will continue his work as one of the top power hitters in all of baseball. The two-way star figures to fetch the largest contract in MLB history, but it's not one that's likely to come together right away. Bob Nightengale of USA Today reports that Ohtani's agent, Nez Balelo, "is in no rush, so look for the Ohtani sweepstakes to be going full throttle in December."

MLB rumors: Shohei Ohtani sweepstakes could last a while, Justin Turner to be pursued by NL champs
Dayn Perry
 

Ohani's top landing spots

The Dodgers, Giants, Mets, Cubs, Rangers, Angels (with whom Ohtani spent the first six years of his career) and others will be in pursuit of baseball's best player throughout the winter. We recently took a look at the best options for Ohtani as he weighs his decision.

Shohei Ohtani free agency: Ranking all 30 possible landing spots as Rangers join Dodgers, Mets in top five
Mike Axisa
 

Complicating factor

Ohtani, 29, has demonstrated that he's a top-tier performer as both a hitter and pitcher. Through six big-league seasons, he's compiled career marks that include a 148 OPS+ and a 142 ERA+. Alas, his free agency is not without some complications. He underwent elbow surgery in September that will prevent him from pitching again until the 2025 season. That seems unlikely to dampen Ohtani's market too much, but it is something worth keeping in mind as the process unfolds.

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