Los Angeles has long been home to many of the sports world’s most iconic and beloved figures. In 2018 when the Japanese star Shohei Ohtani arrived in Los Angeles, little did anyone expect that just a few years later, he would sign what was then the richest deal with the Dodgers—a massive $700 million contract spanning 10 years. When the list of Los Angeles’ top 10 highest-paid athletes was released, it was reasonable to expect Ohtani on the top. Or even top 3 at least. However, that’s not the case.

In fact, sitting third on the top 10 list, we have LeBron James with $52.6 million. He has a net worth of a massive $1.2 billion as of this year. After all, he’s the NBA’s all-time leading scorer and a four-time league MVP. James also happens to be one of the most successful athletes-turned-entrepreneurs ever.

He has had an impressive rise from a high school phenom in Akron, Ohio, to a global business mogul. So who’s this Dodgers star who was able to surpass James? Well, it’s Blake Snell.

The Dodgers’ left-handed ace sits comfortably at the top of Los Angeles’ highest-paid athletes list with $64.8 million. He signed a stunning five-year, $182 million deal with the Los Angeles Dodgers during last winter.

On top of his on-field paycheck, Snell adds income through seven sponsorship deals that reportedly includes Nike, Jaxxon, and Santo Studio. His estimated net worth now stands at $65.6 million.

Except for financial charts, his rise is pretty much evident on the field too. During the Dodgers’ 2-1 game against the Padres on Friday, he pitched seven innings of two-run ball, another strong outing even if the Dodgers’ bats couldn’t support him enough.

After the game, the Dodgers placed Snell on the paternity list, as the star will be with his wife as she gives birth to their second child. He is scheduled to take the mound in the Dodgers’ series opener against the Arizona Diamondbacks in the upcoming weekend. While Los Angeles’ biggest stars are cashing massive checks, how come Ohtani wasn’t on the list?

Explaining Ohtani’s Contract Situation

Back in Tokyo, you will be able to spot Shohei Ohtani everywhere. Be it on the billboards above the street crossings or glossy magazine spreads, he’s the face of everything. From shoe brands to skincare and luxury watches. His endorsements alone bring him an estimated $100 million this year. It’s a figure that has nothing to do with his Dodgers paycheck.

When it comes to his massive $700 million contract, the reality is that it’s far more complicated than it seems. He will receive $700 million but the way it’s structured, it changes everything. His contract is deferred, which means the Dodgers didn’t pay all of it right away. For MLB‘s luxury tax, deferred money gets discounted.

Typically, the Dodgers star’s deal would average out to $70 million a year. However, because of heavy deferrals, the Dodgers’ tax number will likely fall closer to $40-$50 million each year. It gives dodgers a break and it helps them to have more room to spend on other players.

Then there’s the matter of present-day value. The dollars Ohtani will receive years down the line are less valuable than the ones he could get today. That lowers the present value of the contract even though the total number remains $700 million.