Shohei Ohtani’s era as the highest-paid athlete in professional sports came to an end after just one year. Following Ohtani’s record-breaking 10-year, $700 million contract with the Los Angeles Dodgers in December 2023, Juan Soto and the New York Mets reached an agreement on a 15-year, $765 million deal approximately 365 days later.
Despite Ohtani’s historic season of achieving 50 home runs and 50 stolen bases in Major League Baseball, it may come as a surprise that he is now earning less than any other player in the sport. However, Ohtani’s agent, Nez Balelo, stated that he and his client have no regrets and would not have done anything differently.
The contrast between the two contracts becomes even more pronounced when examining the specifics. Soto’s contract does not include any deferred money, ensuring that he will receive the full $765 million. In contrast, Ohtani’s deal includes $680 million in deferred payments, reducing the actual value of the agreement to $460 million.
Despite the financial differences between his contract and Soto’s, Balelo believes that Ohtani’s World Series victory with the Dodgers and his strong bond with his teammates compensate for any disparities in earnings.
“We wouldn’t do anything different,” Balelo remarked at the Sportico’s Invest West conference on Thursday, as reported by the Los Angeles Times. “He won a championship. He went to the right team. Why would we do anything different? No regrets. Nothing.”
Furthermore, Ohtani is expected to earn over $100 million from endorsements, which helps bridge any financial gaps between his contract and Soto’s.
Balelo also explained that Ohtani and himself had a similar sentiment when signing with the Los Angeles Angels after leaving Japan. While Ohtani could have secured a larger contract from other teams, the Angels allowed him to play as both a hitter and a pitcher, leading to his success and the lucrative deal with the Dodgers.
“It was the right place, with the group and Mike [Scioscia] and the whole team over there,” Balelo added. “They gave him an opportunity. They stuck with him. He had a tough spring. It was the right home for him at the time.”
In professional sports, free-agent contracts often hinge on timing rather than value. While there are arguments to be made about Ohtani’s potential contributions and Soto’s age, Soto ended up with a larger contract simply because he entered the market after Ohtani set the new standard.
According to Balelo, the Dodgers’ commitment to building a winning team around Ohtani and fulfilling promises beyond his contract was a crucial factor in his decision. The deferred money saved in his contract was utilized to sign additional players, strengthening the team’s chances of winning a World Series.
Balelo also hinted that the contract Ohtani signed with the Dodgers could potentially be his last as a professional athlete. At 39 years old when the 10-year deal expires, Ohtani reportedly has no intention of playing past his prime.
“He just didn’t want to have the end of his storybook career tail off and then in Year 13, 14 and 15: ‘Who is this guy? He can’t even run down to first,'” Balelo explained about Ohtani’s decision not to pursue a contract lasting 15 years or longer.
Thankfully, baseball enthusiasts can look forward to nine more years of enjoying Ohtani’s exceptional talent.