The New York Yankees Make Aggressive Offer for Japanese Free-Agent Pitcher, but Lose Out to the Dodgers
The New York Yankees put their best foot forward in pursuing Japanese free-agent right-hander Yoshinobu Yamamoto, offering a higher average annual value, an earlier opt-out, and more money in the first five years compared to the Los Angeles Dodgers. Despite their efforts, Yamamoto ultimately chose to sign a mega-deal with the Dodgers, reportedly due to his preference for the team.
The Yankees’ offer to Yamamoto was 10 years, $300 million with an average annual value (AAV) of $30 million, higher than the Dodgers’ $27.08 million AAV. The Yankees also included an earlier opt-out after the fifth year in their proposal.
However, the Dodgers’ deal of 12 years and $325 million, which included a $50 million signing bonus, opt-outs after the sixth and ninth years, and backloaded salaries, was too enticing for Yamamoto to pass up. The total payout, including a posting fee of $46.875 million to Yamamoto’s Japanese club, the Orix Buffaloes, was nearly $200 million over five years for the Yankees.
Ultimately, the Dodgers’ offer set a record total value for a pitcher, surpassing the $324 million the Yankees guaranteed to their own Gerrit Cole after the 2019 season. The Dodgers also provided tax benefits for Yamamoto by paying the signing bonus entirely in 2024, potentially saving him $7.2 million in taxes.
The deal suggests that like Shohei Ohtani, who reportedly received a massively deferred $700 million contract from the Dodgers, Yamamoto had a specific team in mind and was determined to join the Dodgers. Despite the Yankees’ efforts, Yamamoto’s preference for the Dodgers ultimately led to him signing with the team.
The news of Yamamoto’s decision comes as a disappointment for the New York Yankees, who made a strong effort to secure the talented pitcher. As the offseason continues, the team will likely shift its focus to other potential acquisitions as they strive to strengthen their roster for the upcoming season.