Shohei Ohtani signs contract with the Los Angeles Dodgers, securing a two-time AL MVP

Shohei Ohtani signs contract with the Los Angeles Dodgers, securing a two-time AL MVP

Shohei Ohtani, the two-time AL MVP, has agreed to a groundbreaking 10-year, $700 million deal with the Los Angeles Dodgers, beating out other teams in the race

The Los Angeles Dodgers have secured a 10-year, $700 million deal with two-time MVP Shohei Ohtani, according to reports from ESPN, MLB.com, and other media outlets. Ohtani's agent, Nez Balelo, confirmed the agreement. As a two-time American League MVP who excels at both pitching and batting as a designated hitter, Ohtani's move from the Los Angeles Angels of the American League to the Dodgers of the National League marks a significant change for the Japanese star. The Dodgers have been dominant in the NL West, winning 10 of the last 11 pennants.

CNN has contacted Ohtani's management to verify the details of the agreement. The free agency of the two-way star has been the subject of intense speculation recently, with reports stating that his contract is the most expensive in North American sports history. Ohtani himself confirmed the deal in a post on Instagram last Saturday.

In a recent Instagram post, Ohtani announced his decision to join the Dodgers as his next team, expressing his gratitude to the Angels organization, fans, and all those involved in the negotiation process. He thanked the Angels fans for their unwavering support over the past six years, and stated that his time with the team will always hold a special place in his heart.

"To all Dodgers fans, I promise to prioritize the team's success and consistently strive to be the best athlete I can be. I am committed to pushing forward for the Dodgers and the entire baseball community until the day I retire. There are certain sentiments that are difficult to express in writing, so I look forward to discussing this further in an upcoming press conference."

"Thank you so much."

Ohtani has been with the Los Angeles Angels since joining the MLB in 2017. As he approaches free agency, numerous teams are vying to sign the 29-year-old Japanese star, who has kept his future plans close to the chest.

After undergoing elbow surgery, he will not pitch again until 2025 and will just serve as a designated hitter in 2024.

Shohei Ohtani signs contract with the Los Angeles Dodgers, securing a two-time AL MVP

Ohtani pitches against the Seattle Mariners in April.

Steph Chambers/Getty Images

Spotrac reports that Patrick Mahomes of the Kansas City Chiefs has the NFL's priciest contract, valued at $450 million over a decade. In the NBA, Jaylen Brown of the Boston Celtics, Nikola Jokić of the Denver Nuggets, and Bradley Beal of the Phoenix Suns each have five-year contracts exceeding $250 million, according to Spotrac.

Lionel Messi's contract with MLS team Inter Miami is reportedly worth between $50 to $60 million per year, according to part-owner Jorge Mas. Earlier in the year, it was revealed that Messi had been on a $672 million contract while playing for Barcelona between 2017 and 2021.

On the other hand, Cristiano Ronaldo, Messi's long-time rival, is said to be on a two-and-a-half year contract with Saudi Arabian club Al Nassr, estimated to be worth over 200 million euros ($220.16 million) by the media.

This is a developing story and will be updated.