In Major League Baseball, the Los Angeles Dodgers officially announced on Monday that they have signed a 10-year contract with Japanese two-way superstar Ohtani Shohei.

The announcement quoted Ohtani thanking his new team's fans for welcoming him.

The statement said, "I can say 100 percent that you, the Dodger organization and I share the same goal -- to bring World Series parades to the streets of Los Angeles."

The Dodgers said Ohtani is the 11th born-in-Japan player to join the team.

Meanwhile, the Los Angeles Angels expressed their gratitude to him for the past six seasons in a social media post accompanied by pictures of him.

The deal is worth 700 million dollars, which is believed to be the most valuable contract in global sports history.

US media are reporting that 680 million dollars, or about 97 percent, of his contract money will become payable after the 10-year-contract is over. Ohtani will receive 2 million dollars annually for the next 10 years.

The reports say the unusual practice comes at the request of Ohtani, who wanted to drastically reduce the team's total annual wage bill over the coming decade. They say that should enable the team to acquire more players and that the contract reflects Ohtani's strong will to win.