Major MLB Free Agent Signings: A Look At Record Contracts And Player Moves

MLB Spring Training is underway, meaning we’re just a few weeks from the start of the regular season. There will be trades and injuries along the way, but for the most part, teams have a sense of who they’re moving forward with this year. That means the biggest free agent deals are behind us — and there were some impressive contracts handed out, including a pair of record-setting ones.

Note that these are only players whose contracts expired with their current teams (or they opted out) and signed new deals. We’re not counting minor leaguers who signed with their MLB teams or players who still had time left on their contracts and signed an extension.

Shohei Ohtani's Historic Contract with the Los Angeles Dodgers

Shohei Ohtani signed a monumental contract with the Los Angeles Dodgers worth $700 million over ten years. This isn’t just the biggest contract of the offseason; it's the largest deal in MLB history. Ohtani is a remarkable two-way player, excelling as both a hitter and pitcher. Following surgery, he will only be able to hit in 2024, but he is expected to return to pitching in 2025.

At just 29 years old, Ohtani has yet to make a postseason appearance, and he hopes to change that narrative with the Dodgers. One fascinating aspect of his contract is its structure. He will earn only $2 million annually, with the remaining $68 million deferred until after the contract concludes. This strategic financial arrangement allows the Dodgers flexibility to pursue additional talent, making it a win-win scenario for both parties.

Yoshinobu Yamamoto's Impactful Move to the Dodgers

Yoshinobu Yamamoto, a highly acclaimed pitcher from Japan, also joined the Los Angeles Dodgers on a 12-year deal worth $325 million. Yamamoto is renowned for his impressive accolades, including winning the Triple Crown, Pacific League MVP, and Sawamura Award consecutively for three seasons. The Dodgers are optimistic that he can replicate his success in the MLB.

His contract is a record for a pitcher, and it seems almost like a bargain when compared to Ohtani's deal. Despite costing the Dodgers $50.6 million to secure him from the Orix Buffaloes, his previous salary was only $4.9 million. This significant investment places him among the highest-paid pitchers in baseball.

Aaron Nola's Commitment to the Philadelphia Phillies

Aaron Nola signed a $172 million contract with the Philadelphia Phillies for seven years. Nola’s legacy is already cemented as one of the most remarkable pitchers in Phillies history. If he remains with the team throughout his contract, he will become the longest-tenured pitcher in the franchise’s history.

The Phillies drafted Nola seventh overall in 2014, and his annual salary will exceed $24 million. After several challenging seasons, the Phillies have shown significant improvement, including a World Series appearance in 2022. Nola’s drive to win a championship is a testament to his commitment to the franchise.

Jung-hoo Lee Joins the San Francisco Giants

In an effort to bolster their roster, the San Francisco Giants signed Jung-hoo Lee for $113 million over six years. Lee, who made his name in South Korea's KBO League, won both Rookie of the Year in 2017 and MVP in 2022, along with five consecutive Golden Gloves from 2018 to 2022.

Despite past successes, the Giants have faced difficulties in recent years. They are hoping Lee’s talent will spark a resurgence and lead them back to championship glory.

Josh Hader's Move to the Houston Astros

Josh Hader joined the Houston Astros on a $95 million deal for five years. Originally drafted by the Baltimore Orioles in the 19th round of the 2012 draft, Hader’s career has taken a significant turn since then. This contract averages around $19 million annually, far exceeding his initial signing bonus of $40,000.

After successful stints with the Milwaukee Brewers and San Diego Padres, Hader will make his debut as a closer in the American League. He recently earned honors such as reaching the All-MLB First Team for the third time and being named an All-Star for the fifth time.

Cody Bellinger Returns to the Chicago Cubs

Cody Bellinger’s offseason saga ended with a three-year, $80 million contract with the Chicago Cubs. After a long wait for an offer, Bellinger’s return was solidified following a strong performance with the Cubs last season, where he achieved impressive statistics, including 26 home runs and 20 steals.

His new contract features opt-outs after the first and second years. If he stays with the Cubs for the entire duration, Bellinger will earn $30 million in the first two years and $20 million in the final year.

Eduardo Rodriguez's Decision to Join the Arizona Diamondbacks

Eduardo Rodriguez opted out of his remaining three years with the Detroit Tigers to sign with the Arizona Diamondbacks for $80 million over four years. This deal grants him a significant salary increase, moving from approximately $16.3 million to $20 million annually. Additionally, a vesting option could elevate the total to $99 million.

Despite dealing with injuries throughout his career, Rodriguez had a commendable season last year, with a 3.30 ERA and a 13-9 record. He joins a young and promising rotation with hopes of leading the Diamondbacks back to the World Series.

Sonny Gray's New Deal with the St. Louis Cardinals

Sonny Gray is now a St. Louis Cardinal after signing a three-year deal worth $75 million. This contract includes a club option for the 2027 season and significantly increases his pay from the $12 million he earned last year with the Minnesota Twins.

Gray had a solid season with an 8-8 record, striking out 183 batters in 184 innings and finishing with a 2.79 ERA. His performance suggests he could be a valuable asset for the Cardinals moving forward.

Seth Lugo's Role in the Kansas City Royals' Revival

Seth Lugo signed a three-year contract with the Kansas City Royals for $45 million. The Royals, coming off a tough season with 106 losses, are looking to rebuild their team, and Lugo is expected to play a crucial part in that process.

The final year of his contract includes a player option, allowing him the flexibility to opt-out for better opportunities. Regardless, he is set to be with the team through his age-37 season, providing much-needed depth and experience.

Jeimer Candelario's Transition to the Cincinnati Reds

Jeimer Candelario joined the Cincinnati Reds on a three-year deal worth $45 million. After a brief stint with the Chicago Cubs, Candelario is looking to make an impact with the Reds, who are also seeking a postseason return.

He is coming off a career-best season, which included 22 home runs and 70 RBIs. His addition to the team could bolster the Reds' chances for success in the upcoming seasons.