NEW YORK (AP) Shohei Ohtani has set a financial record to go along with his singular on-field performance, getting a record $700 million to make a 30-mile move up Interstate 5 to the Los Angeles Dodgers.

His agent, Nez Balelo, issued a midafternoon news release Saturday announcing the 10-year contract, ending months of speculation that began even before Ohtani became a free agent on Nov. 2. In recent days, media and fans had tracked private plane movements and alleged sightings like detectives in attempts to discern the intentions of the two-time AL MVP with the Angels.

This is a unique, historic contract for a unique, historic player, Balelo said. He is excited to begin this partnership, and he structured his contract to reflect a true commitment from both sides to long-term success.

Ohtanis total was 64% higher than baseballs previous record, a $426.5 million, 12-year deal for Angels outfielder Mike Trout that began in 2019.

His $70 million average salary is 62% above the previous high of $43,333,333, shared by pitchers Max Scherzer and Justin Verlander with deals they struck with the New York Mets. Ohtanis average salary nearly doubles the roughly $42.3 million he earned with the Angels. It also exceeds the entire payrolls of Baltimore and Oakland this year.

His agreement includes unprecedented deferred money that will lower the amount it counts toward the Dodgers luxury tax payroll, a person familiar with the agreement told The Associated Press. The person spoke on condition of anonymity because the details were not announced.