Bidding for Shohei Ohtani already over $500M?

Shohei Ohtani is apparently a lock to become the highest-paid athlete ever in North American sports.

Ohtani is the biggest free agent in baseball, and he is said to be nearing a decision regarding which team he will sign with.

The Chicago Cubs, Los Angeles Dodgers, San Francisco Giants, Toronto Blue Jays and the incumbent Los Angeles Angels are believed to be the teams still alive in the bidding process.

According to a report from the New York Post’s Jon Heyman published on Sunday, Ohtani has already received contract offers for more than $500M. Heyman says there is even speculation that Ohtani could sign for close to $600M.

The biggest free agent contract ever signed by an MLB player was for $360M by both Aaron Judge last year. Mike Trout was under contract to receive $426.5M guaranteed when he signed his extension with the Angels. 

As far as North American pro sports go, Patrick Mahomes signed an extension that put him under contract to earn $450M.

The bidding for Ohtani could surpass $500M for a few reasons.

One, Ohtani is the best player in the world. Two, he pitches and hits, which gives him added value compared to every other player. Lastly, and very importantly, Ohtani single-handedly brings in advertising revenue to a club from Japanese companies that helps offset a good chunk of his salary. 

Teams can safely figure they will make at least $20M or so per year just thanks to Ohtani’s popularity in Japan. That’s a big help if you’re paying the guy $50M or so per year.

Once Ohtani makes his decision, the free agency market should begin to move much more quickly.