Phillies lose Yoshinobu Yamamoto sweepstakes to Los Angeles Dodgers

The Japanese pitcher agreed to a record-breaking 12-year, $325 million deal with the Dodgers, according to ESPN.

Yoshinobu Yamamoto posted a 1.82 ERA with 922 strikeouts over seven seasons in Nippon Professional Baseball in Japan.Read moreEugene Hoshiko / AP

Published Dec. 22, 2023, 12:25 a.m. ET

Try as they might — and they tried harder than most baseball insiders expected — the Phillies were unable to reel in Yoshinobu Yamamoto.

Yamamoto, the top prize on the free-agent pitching market, chose late Thursday night to sign with the Dodgers, a major league source said, confirming a report by the YES Network. Yamamoto agreed to a 12-year, $325 million contract, according to ESPN. Once finalized, it will be the largest deal ever for a pitcher, topping the Yankees’ nine-year, $324 pact with Gerrit Cole.

Less than two weeks after signing Shohei Ohtani to a historic $700 million contract, the Dodgers emerged triumphant in the Yamamoto sweepstakes, a competition that included more than a half-dozen large-market teams, notably the Yankees and Mets.

The Phillies were a surprise contender for Yamamoto. Multiple sources indicated last month that bringing back free agent Aaron Nola on a seven-year, $172 million contract wouldn’t preclude the Phillies from chasing Yamamoto, but president of baseball operations Dave Dombrowski signaled that the team was satisfied with its starting rotation.

But the Phillies recognized in the 25-year-old right-hander a chance to improve the rotation now and into the future. They met with Yamamoto in Los Angeles on Dec. 14 and were in the running until the end, a source said, after making an offer this week.

The terms of the Phillies’ bid weren’t immediately known.

Yamamoto met with the Yankees and Mets twice apiece. He also talked with the Red Sox, Giants, and Blue Jays. The Yankees and Dodgers were considered frontrunners throughout the process, with the Mets making a strong push after owner Steve Cohen reportedly hosted Yamamoto for dinner last Sunday in Connecticut.

Why all the fuss over a pitcher who hasn’t appeared in a major league game?

Yamamoto went 16-6 with a 1.16 ERA in 164 regular-season innings last season for the Orix Buffaloes of Nippon Professional Baseball’s Pacific League. In his NPB career, he had a 1.82 ERA with a 26% strikeout rate and 6% walk rate. He won three consecutive Sawamura Awards, Japan’s equivalent of the Cy Young, and was named MVP of the Pacific League three years in a row.

And at age 25, he might only be entering the prime of his career.

The bidding for Yamamoto skyrocketed over the last few weeks. According to multiple reports, the Dodgers’ deal for Yamamoto also includes a $50.625 million posting fee to Orix, which held his rights, and a $50 million signing bonus. Unlike Ohtani, Yamamoto’s contract reportedly doesn’t include any deferred money.

Having come up short in their long-shot pursuit of Yamamoto, the Phillies will return to their stated offseason pursuit of improving the margins of the roster. They continue to look to bolster the bullpen and add depth to the rotation. And it would be surprising if they didn’t add an outfielder to provide coverage in case center fielder Johan Rojas doesn’t make the team out of spring training.