Who is The Highest Paid Baseball Player: Shohei Ohtani Smashes Records in MLB, Earns $70 Million in 2023

Shohei Ohtani has been making waves in Major League Baseball (MLB) since his arrival from Japan in 2018. From winning the American League MVP to becoming an All-Star both as a hitter and pitcher, Ohtani has been unstoppable. Recently, he even bagged the World Baseball Classic MVP and a gold medal for Team Japan. However, his impact extends beyond the realms of the playing field.

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Off the field, Ohtani’s historic success has skyrocketed his endorsement earnings, reaching unprecedented heights in the history of the sport.

You're reading:: Who is The Highest Paid Baseball Player: Shohei Ohtani Smashes Records in MLB, Earns $70 Million in 2023

His endorsement earnings have now reached levels typically reserved for global soccer and basketball icons. 2023 is set to be a remarkable year for Ohtani, as he is projected to earn a staggering $40 million through endorsements alone. In total, he is estimated to make $70 million, including his salary with the Los Angeles Angels. This places him ahead of MLB superstars like Max Scherzer, Justin Verlander, and Aaron Judge in terms of earnings.

Breaking records seems to be Ohtani’s trademark, and 2023 is no exception. His on-field salary has received a massive boost this year, making it his final season before becoming a free agent.

In 2022, the Angels paid him $5.5 million, but they reached an agreement last fall to avoid arbitration, resulting in a one-year deal worth $30 million. This record salary for an arbitration-eligible player demonstrates Ohtani’s growing value. It is worth noting that Mookie Betts held the previous high in 2020 at $27 million.

However, this record-breaking salary is just the beginning of Ohtani’s financial success. By the end of 2023, he is expected to sign the most lucrative contract in MLB history, surpassing his Angels teammate, Mike Trout, who currently holds a $426.5 million deal.

On December 9th, 2023, Shohei Ohtani reached a historic agreement with the Los Angeles Dodgers, securing an unprecedented 10-year contract worth $700 million.

Ohtani’s popularity extends beyond his on-field prowess. With roughly a dozen endorsement deals in both the U.S. and Japan, he has become a cultural phenomenon.

Brands such as BOSS, Fanatics, Kowa, and Seiko have partnered with him. In January, Ohtani signed a long-term footwear and apparel deal with New Balance, marking a significant shift after eight years with Asics.

New Balance even launched a limited-edition cleat in celebration of the World Baseball Classic. With this partnership, New Balance aims to expand its apparel reach and achieve a double in sales over the next few years.

To put Ohtani’s endorsement earnings into perspective, it is important to compare him to other athletes. He stands out even among the highest earners in other sports. For example, his estimated off-field earnings are nearly six times what any other baseball player makes. The closest comparison is Usain Bolt, who made ten times more than any other track and field athlete. Ohtani’s ascent in popularity is evident in his social media following, with over 5.3 million Instagram followers, more than twice the number of any other MLB player.

While Ohtani’s popularity in Japan is well-established, he is still working to expand his recognition beyond baseball fans in the United States. His awareness level in the country stands at 17%, significantly lower than sports icons like Tiger Woods, Tom Brady, and LeBron James. Nonetheless, Ohtani’s exceptional performance in the World Baseball Classic has undoubtedly raised his profile, gaining him an additional 2.8 million Instagram followers during the tournament.

In terms of earnings, the top ten highest-paid players in MLB will collect a projected $443 million this year, excluding any incentive bonuses. However, endorsement income represents only a fraction of their total earnings, accounting for 13% overall. Excluding Ohtani, it drops to 4.5%. This stark difference highlights the disparity between MLB and sports like basketball and soccer, where top players benefit from significantly higher shoe and apparel deals and possess greater international appeal.

As MLB faces challenges with its regional sports network model, team owners continue to spend lavishly on player contracts. This winter, teams invested a record-breaking $4.3 billion on free agents and contract extensions. Notably, five deals valued at least $280 million were signed by Aaron Judge, Manny Machado, Rafael Devers, Trea Turner, and Xander Bogaerts. While these contracts make the list of the 13 largest active agreements, they are likely to pale in comparison to the contract Ohtani will command as a free agent after the 2023 season.

Table of Contents

The Highest-Paid MLB Players in 2023

1. Shohei Ohtani: $70 million (Los Angeles Angels)

Salary: $30 million
Endorsements: $40 million
Age: 28

On December 9th, 2023, Shohei Ohtani reached a historic agreement with the Los Angeles Dodgers, securing an unprecedented 10-year contract worth $700 million.

Shohei Ohtani, the two-way star for the Los Angeles Angels, tops the list with an impressive $70 million in earnings. At just 28 years old, Ohtani’s salary ranks 10th in baseball this year, but it is only the third highest on his own team, behind Mike Trout and Anthony Rendon.

Ohtani made a total of $12 million during his first five seasons with the Angels, but now he’s set to challenge Patrick Mahomes for the highest contract in North American team sports history. Quite a feat!

2. Max Scherzer: $60.3 million (New York Mets)

Salary: $58.3 million
Endorsements: $2 million
Age: 38

Next up is Max Scherzer, the ace pitcher for the New York Mets, with a cool $60.3 million. Scherzer boasts the highest on-field salary this year at $43.3 million from the Mets, but he also pockets an additional $15 million in deferred compensation based on his previous contract with the Washington Nationals. And let’s not forget the $2 million he earns off the field from his various partners. Quite the payday!

3. Justin Verlander: $44.3 million (New York Mets)

Salary: $43.3 million
Endorsements: $1 million
Age: 40

Justin Verlander, another Mets superstar, comes in at number three with $44.3 million in earnings. Verlander had a tough couple of years due to the COVID-19 delay in 2020 and Tommy John surgery, but he bounced back strong in 2022, winning the American League Cy Young Award with the Astros. Now with the Mets, Verlander is making the same average annual salary as Scherzer, and he continues to solidify his legacy as the active career leader in wins and strikeouts.

4. Aaron Judge: $44 million (New York Yankees)

Salary: $40 million
Endorsements: $4 million
Age: 30

Aaron Judge, the charismatic outfielder for the New York Yankees, secures the fourth spot on our list with a hefty $44 million in earnings. Judge made a bold move by turning down a massive contract offer ahead of the season, but it paid off when he won the AL MVP and set the AL record for most home runs in a season with an incredible 62. This outstanding performance resulted in a whopping $146.5 million increase in his eventual contract with the Yankees. Talk about a high-stakes gamble!

5. Mike Trout: $40.5 million (Los Angeles Angels)

Salary: $35.5 million
Endorsements: $5 million
Age: 31

Mike Trout, often regarded as one of the best players in baseball, grabs the fifth spot with $40.5 million in earnings. Trout’s incredible talent has earned him numerous accolades, including being a consistent top contender for the MVP award. Unfortunately, injuries have plagued him in recent years, but that hasn’t stopped him from securing lucrative endorsement deals.

In fact, Trout recently added Budweiser to his endorsement portfolio, joining the likes of Nike, BodyArmor, Rawlings, Old Hickory, and Anderson Authentics. He’s also venturing into the world of golf with a new club designed by none other than Tiger Woods!

6. Anthony Rendon: $38.3 million (Los Angeles Angels)

Salary: $38 million
Endorsements: $250,000
Age: 32

Anthony Rendon, the skilled third baseman for the Los Angeles Angels, comes in at number six with $38.3 million in earnings. Rendon has battled injuries in recent years, limiting his playing time and performance. Despite these challenges, he has four seasons left on his seven-year, $245 million deal with the Angels, and there’s still plenty of time for him to make a significant impact.

7. Gerrit Cole: $37.5 million (New York Yankees)

Salary: $36 million
Endorsements: $1.5 million
Age: 32

Gerrit Cole, the ace pitcher for the New York Yankees, takes the seventh spot with $37.5 million in earnings. Cole’s $324 million contract with the Yankees is the largest for any pitcher in baseball history and ranks among the top 10 for all players. While his strikeouts have been impressive, he has also struggled with giving up home runs. Nevertheless, his partnership with Nike, Rawlings, and Fanatics helps boost his overall earnings.

8 (tie). Corey Seager: $37 million (Texas Rangers)

Salary: $35 million
Endorsements: $2 million
Age: 28

Corey Seager, the talented shortstop for the Texas Rangers, ties with Carlos Correa for the eighth spot with $37 million in earnings. Seager’s contract with the Rangers is structured in a way that his salary declines each year, but he’s still set to make a significant impact on the team. With endorsement deals from Adidas, Rawlings, Fanatics, and TravisMathew, Seager is not just a force on the field, but also in the world of brand partnerships.

9 (tie). Carlos Correa: $37 million (Minnesota Twins)

Salary: $36 million
Endorsements: $1 million
Age: 28

Carlos Correa, the skilled shortstop for the Minnesota Twins, also earns $37 million, tying with Corey Seager. Correa’s journey to the Twins took an interesting turn, with contracts worth over $300 million falling through due to concerns about his ankle. Nevertheless, the Twins secured him with a six-year, $200 million deal, making him a valuable asset to the team. In 2023, he’ll receive his base salary along with a portion of his signing bonus.

10. Stephen Strasburg: $33.8 million (Washington Nationals)

Salary: $33.6 million
Endorsements: $200,000
Age: 34

Finally, Stephen Strasburg, the veteran pitcher for the Washington Nationals, rounds out the list with $33.8 million in earnings. Strasburg has faced significant challenges in recent years, with injuries keeping him sidelined. However, he’s still collecting $10 million in deferred salary this year as part of his previous contract with the Nationals. His experience and expertise in the game make him a valuable asset to the team.

As Ohtani continues to dominate the MLB and set new records, it’s clear that he is not only an exceptional athlete but also a financial powerhouse in the world of baseball. With his rising popularity and impressive earning potential, Ohtani is solidifying his place as one of the sport’s most iconic figures.

Source: https://magnetmix.com
Category: Sports