Shohei Ohtani Rumors: Giants, Rangers Join Yankees, Dodgers, More MLB Teams Eying FA

Shohei Ohtani won't pitch during the 2024 season, but he's not about to lack for suitors on the open market.

Bob Nightengale of USA Today reported the Los Angeles Dodgers, Boston Red Sox, Chicago Cubs, New York Yankees, New York Mets, Toronto Blue Jays, San Francisco Giants, Seattle Mariners, San Diego Padres and Texas Rangers are all set to make an effort to sign the two-way superstar.

The Dodgers have long been considered the favorite, but with close to a dozen teams involved in negotiations, all it takes is one to blow contractual expectations out of the water.

Ohtani's negotiations took a turn when he underwent season-ending UCL surgery, which will prevent him from pitching all of next season. It's the second time Ohtani has undergone a UCL repair during his career, and data on players who have undergone two such surgeries is limited and not particularly promising.

Any contract Ohtani signs will be based largely on his production as a hitter, likely containing significant incentives based on his pitching eligibility and performance. Before the elbow injury, it was considered a mortal lock that Ohtani would become the first North American athlete to sign a contract worth $500 million in guaranteed money.

It's possible Ohtani reaches that number in potential incentives, but he's likely looking at a base similar to Aaron Judge's nine-year, $360 million deal. Certainly not a number to sneeze at but also not the market-resetting behemoth most were projecting before the 2023 season began.

Given the number of teams interested in Ohtani's services, it's also possible he seeks an early opt-out in his deal once his pitching arm is healed. He could re-enter the market after the 2025 or 2026 season while still in his early 30s, potentially landing the $500 million deal at that point.

That said, odds are Ohtani looks for as much security as possible in his next deal given his own uncertain pitching future.