Japanese baseball star Shohei Ohtani joins LA Dodgers in MLB ...

Japan's Shohei Ohtani — the most coveted Major League Baseball (MLB) free agent in recent memory — has agreed to a record $US700 million ($1.06 billion), 10-year contract with the Los Angeles Dodgers.

Key points:The MLB says the deal is "believed to be largest contract signed in sports history"Ohtani's deal is 64 per cent higher than baseball's previous recordHe joins the Dodgers after six years with the Angels

The deal was announced after days of speculation over where Ohtani would continue his career after six seasons with the Los Angeles Angels. 

The MLB said the deal was "believed to be largest contract signed in sports history", topping highs reportedly set by football stars Lionel Messi and Kylian Mbappé.

"This is a unique, historic contract for a unique, historic player," Ohtani's agent, Nez Balelo of CAA Sports, said in a statement.

"He is excited to begin this partnership, and he structured his contract to reflect a true commitment from both sides to long-term success."

Ohtani's total was 64 per cent higher than baseball's previous record, a $US426.5 million, 12-year deal for Angels outfielder Mike Trout that began in 2019.

His $US70 million annual salary is 62 per cent above the previous high of $US43,333,333, shared by pitchers Max Scherzer and Justin Verlander with deals they struck when signing with the New York Mets.

Ohtani's annual salary nearly doubles the roughly $US42.3 million he earned with the Angels over six seasons. It also exceeds the entire payrolls of Baltimore and Oakland this year.

"I apologise for taking so long to come to a decision," Ohtani said on Instagram.

"I would like to express my sincere gratitude to everyone involved with the Angels organisation and the fans who have supported me over the past six years, as well as to everyone involved with each team that was part of this negotiation process.

"Especially to the Angels fans who supported me through all the ups and downs, your guys' support and cheer meant the world to me.

"The six years I spent with the Angels will remain etched in my heart forever."

Ohtani's decision came six years and one day after he first agreed to his deal with the Angels.

He has redefined modern baseball since he chose the Angels as his first MLB team.

Nobody has come close to matching his simultaneous achievements at the plate and on the mound, as he has become one of the elite players in both roles whenever healthy.

Along the way, Ohtani became one of the most marketable athletes in the world, sure to boost ticket sales, TV ratings and sponsorship revenues wherever he goes.

He was a unanimous American League MVP in 2021 and 2023 — he finished second in 2022 — winning this year despite injuring his elbow in late August and an oblique muscle in early September.

AP