The Los Angeles Dodgers welcomed their newest star Wednesday. Japanese right-hander Yoshinobu Yamamoto, fresh off signing a record 12-year contract worth $325 million, was officially introduced at a press conference at Dodger Stadium. His $325 million deal is the largest pitching contract in history, narrowly edging out Gerrit Cole’s $324 million deal with the New York Yankees.
“Good afternoon. My name is Yoshinobu Yamamoto of the L.A. Dodgers,” Yamamoto said in English to open his press conference. “I am beyond ecstatic to become a member of this historic franchise, and cannot express how much it means to me to be able to call Los Angeles my new home.”
Traditionally, No. 18 is the “ace” number in Japan, and it had been worn previously by Hiroki Kuroda and Kenta Maeda with the Dodgers. Yamamoto said he attended a 2019 postseason game started by Maeda at Dodger Stadium. That experience, when he was just 19 years old, motivated him to pitch in MLB as it began to sell him on the atmosphere at Dodger Stadium.
“It was very important to be with a team that wants to win. Not only now, but in the future as well. I really felt throughout the whole process, the Dodgers provided that opportunity most,” Yamamoto said. “… I promise to all the fans of L.A. that I will focus everything to become a better player and a world champion as a member of the Dodgers.”
Yamamoto is, of course, joining two-way superstar Shohei Ohtani with the Dodgers. Los Angeles signed Ohtani earlier this month to a record 10-year, $700 million contract. Heavy deferrals — heavy as in Ohtani will be paid only $2 million a year for the next 10 years — lowers the present-day value to approximately $460 million, which is still the richest contract in baseball history.
Ohtani and Yamamoto were teammates in the World Baseball Classic this spring when they helped Japan go undefeated en route to winning the WBC championship. Yamamoto visited Dodger Stadium during his recruitment period and Ohtani was involved with the meeting, though he downplayed Ohtani’s role in convincing him to sign with the Dodgers.
“[Ohtani] wasn’t the sole reason I decided to come here. Even if he decided to go somewhere else, I probably would’ve ended up on the Dodgers,” Yamamoto said. “… The fact that Shohei [deferred so much salary] signaled to me it wasn’t just the front office. The players have bought into the winning atmosphere as well.”
Yamamoto turned only 25 in August and is one of the most decorated pitchers in the history of Japan’s Nippon Professional Baseball. He’s won three straight Pacific League MVPs and three straight Eiji Sawamura Awards, Japan’s equivalent of the Cy Young. In 2023, Yamamoto threw 171 innings with a 1.16 ERA and 176 strikeouts. He has a 1.72 ERA in seven NPB seasons.
Given his age and pedigree, Yamamoto was maybe the most sought after free agent pitcher ever. He reportedly rejected an identical 12-year, $325 million offer from the New York Mets, and a 10-year contract worth $300 million from Cole’s Yankees. Several other teams, including the NL West rival San Francisco Giants, also aggressively pursued Yamamoto.
Yamamoto’s contract includes a $50 million signing bonus and opt outs after 2029 and 2031, his age 30 and 32 seasons, respectively. The Dodgers will also pay a $50.625 million posting fee to the Orix Buffaloes, Yamamoto’s former team in Japan. Half the posting fee is due within 14 days. The other half will be paid out over the next 18 months.
The Dodgers currently have an estimated $286 million payroll for competitive balance tax purposes in 2024, third highest behind the Mets ($298 million) and Yankees ($290 million). Even with these record contracts for Ohtani and Yamamoto, Los Angeles is still comfortably below the franchise record $297 million payroll set back in 2015.
In addition to signing Ohtani and Yamamoto, the Dodgers also traded for righty Tyler Glasnow and outfielder Manuel Margot, and re-signed righty Joe Kelly this offseason. Los Angeles is expected to pursue another starting pitcher, plus bench and bullpen help between now and spring training.
The Dodgers won 100 games in 2023, and the NL West for the tenth time in the last 11 years. They were quickly swept by the Arizona Diamondbacks in the Division Series, however, and were outscored 19-6 in the three games.
