New York Yankees Lose Out on Japanese Pitcher Yoshinobu Yamamoto to Dodgers

Yankees’ Efforts Fall Short in Pursuit of Yoshinobu Yamamoto

The New York Yankees made a strong push to sign Japanese free-agent right-hander Yoshinobu Yamamoto but ultimately lost him to the Los Angeles Dodgers. A comparison of the offers made by both teams suggests that Yamamoto simply preferred the Dodgers over any other club.

Yankees’ Offer vs. Dodgers’ Offer

Sources familiar with the proposals reveal that the Yankees offered Yamamoto a higher average annual value (AAV), an earlier opt-out, and more money in the first five years. However, Yamamoto chose to agree to a 12-year, $325 million contract with the Dodgers, which includes a $50 million signing bonus, opt-outs after the sixth and ninth years, and backloaded salaries. It’s important to note that the deal is not yet official.

Yankees’ Proposal

The Yankees’ offer to Yamamoto was a 10-year, $300 million contract with an AAV of $30 million. The opt-out in their deal was after the fifth year, and the salaries remained consistent throughout the contract without any backloading. Including a posting fee of $46.875 million to Yamamoto’s Japanese club, the Orix Buffaloes, the Yankees were prepared to commit to a total payout of nearly $200 million over five years, with the possibility of Yamamoto opting out.

Record-Breaking Pitcher Contract Not Offered

While the Yankees did not offer Yamamoto a record-breaking total value for a pitcher, surpassing the $324 million guaranteed to Gerrit Cole in 2019, there was potential for negotiations to include a $50 million signing bonus if both parties agreed.

Tax Savings for Yamamoto

According to Robert Raiola, a CPA and director of sports and entertainment at PFK O’Connor Davies, Yamamoto will not have to pay California tax on the signing bonus if he is a nonresident of the state. The Dodgers plan to pay the bonus entirely in 2024, potentially saving Yamamoto up to $7.2 million in taxes.

Yamamoto’s Preference for the Dodgers

Similar to Shohei Ohtani, who received a massive $700 million contract from the Dodgers with reported interest from the Giants and Blue Jays, Yamamoto seemed to have a specific team in mind. His preference was clearly the Dodgers, as he chose them over other competitive offers.

(Top photo of Yamamoto: Yuichi Yamazaki / AFP via Getty Images)