He made MLB history on Thursday by becoming the first player to hit 50 home runs and steal 50 bases in the same season. Ohtani plays for the Los Angeles Dodgers. He had a great game, with six hits, three home runs, two stolen bases, and ten RBIs.
Last year, Ohtani, 30, made news when he signed the biggest team sports deal in U.S. history: 10 years and $700 million. The way it’s set up is very unusual. He gets $20 million for the first 10 years and $680 million for the next 10 years. Every year from 2024 to 2033, it will cost $2 million. From 2034 to 2043, it will cost $68 million.
Because of how well Ohtani has played this season, his $2 million salary is by far the best deal in baseball. He has hit 51 home runs, driven in 120 runs, scored 123 runs, and has a WAR of 7.8 with about a week left in the season.
Since the 1980s, WAR has been a famous way to measure everything a player does that helps his team win. This season, Ohtani’s WAR has given the Dodgers 7.8 wins more than what a replacement player in his position would have had, which is one of the highest marks in the league. According to FanGraphs, Ohtani is performing like a player who makes $52.2 million a year because each 1.0 of WAR is worth about $6.7 million on the MLB free agent market.
Based on WAR, Ohtani is worth $52.2 million more than any other MLB player has made this season.
Even a more modest estimate of Ohtani’s worth would show that he is way too cheap for what he does for the 2024 season. Fifth in the MLB in terms of WAR is Ohtani. His teammate Will Smith, who made over $38 million this season, was the fifth best paid player in the league in terms of total cash.
How little does Ohtani’s $2 million salary this season really pay?
He is tied with a few other players for being the 352nd best paid player in the top leagues this year.
His pay is so low that this season, at least 50 minor league baseball players made more money than he did. A lot of them were just picked up in the 2024 MLB draft. But Ohtani is expected to make a lot more money from endorsements this year. According to Sportico, he made $40 million from endorsements in 2023, which was the most in the MLB.
The joint bargaining agreement for the MLB says that the minimum salary for this season was $740,000.
Spotrac, a site that tracks contracts, says that Ohtani’s yearly deal was worth about $36.2 million before the 2024 season started.
Teams can make custom payment plans for players through delayed payments because MLB contracts are almost always fully guaranteed. This is similar to a “buy now, pay later” system for professional athletes.
Mookie Betts, Ohtani’s partner on the Dodgers, signed a 12-year, $365 million deal in 2020 that included $115 million in deferred money. Betts will get his last $11 million payment from the deal in 2044, when he is 51 years old.
Bobby Bonilla, a famous New York Mets player, gets $1.2 million in deferred pay every July, along with an agreed-upon 8% interest rate. Ohtani, on the other hand, will apparently not get any interest on his deferred wages.
Ohtani got a record-setting $700 million guaranteed contract. Another MLB player may be about to follow suit.
Outfielder Juan Soto of the New York Yankees is on track to become a Hall of Famer. He will also be the most sought-after free agent next year. Ohtani is five years older than Soto, who is 25. This season, Soto’s WAR is 7.7, which is almost the same as Ohtani’s.
Ohtani was asked to put his season in perspective after his big night.
“I just wanted to get over it as soon as possible.” After the game, Ohtani, who is from Japan, said through a translator, “It’s something I’ll remember for a very long time.”
Ohtani is the clear favourite to win the National League MVP award in his first season with the Dodgers. He’s also about to make the playoffs for the first time in his six-year career.
Ohtani’s play on the field, like his contract, sets him apart from his peers. As a player who both pitches and hits, he is the only two-way player in the MLB, much like baseball legend Babe Ruth.
But Ohtani hasn’t been able to pitch this season due to an injury in his throwing arm, so the production he is giving the Dodgers in 2024 might get even bigger in 2025 when he starts pitching again.
