Ohtani can opt out of Dodgers deal if execs Walter, Friedman lose roles with team, AP source says
Shohei Ohtani can opt out of his $700 million, 10-year contract with the Los Angeles Dodgers if either of two key executives is no longer in place, a person familiar with the agreement told The Associated Press
LOS ANGELES — Shohei Ohtani can opt out of his $700 million, 10-year contract with the Los Angeles Dodgers if either of two key executives is no longer in place, a person familiar with the agreement told The Associated Press on Wednesday.
Ohtani, who will be formally introduced by the Dodgers at a news conference Thursday, would be allowed to terminate his deal if Mark Walter no longer is controlling owner or president of baseball operations Andrew Friedman no longer is with the team, the person said. The person spoke on condition of anonymity because the terms were not announced.
Ohtani's deal, announced Monday, provides that 97% of the money be deferred without interest and not fully paid until 2043.
The Athletic first reported Wednesday that Ohtani's deal contained a provision allowing him to opt out at the end of a season if the Dodgers made specific personnel changes.
The deal is still in the form of a letter of agreement between Ohtani's representatives and the team, and a formal contract has not been submitted to Major League Baseball, the person said.
Led by Walter, the private partnership Guggenheim Baseball Management purchased the Dodgers in 2012 for $2.15 billion. In his early years as controlling owner, Walter was a regular at Dodger Stadium. But his presence gradually decreased and last season he attended only a handful of games.
Walter's global financial services company, Guggenheim Partners, has headquarters in Chicago and New York. He is a native of Iowa.
Friedman was hired by the Dodgers in
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