Shohei Ohtani Free Agency Update: Two-way phenom expected to settle $500,000,000 sweepstakes by Sunday

Another day, another update regarding Shohei Ohtani. The biggest name of the offseason has been slowly progressing toward signing the most lucrative contract in MLB history. That being said, the secrecy of the two-way star's contract negotiations has made the offseason move relatively slowly as many teams and players are awaiting the outcome of the star's free agency.

Well, it may not be long now before the baseball community finds out where and for how much Shohei Ohtani will sign for. According to MLB insider Jon Morosi, it is believed that the Japanese superstar will decide on his future this weekend, with a new contract expected to be signed this weekend.

"News: Shohei Ohtani is expected to decide on his free-agent destination before the end of the weekend, as I reported today on @MLBNetwork @MLB" - @jonmorosi

It remains to be seen which team will be the landing spot for Ohtani, however, whichever team does sign him is expected to offer a contract that could exceed $500,000,000. That would easily be the richest contract signed in the history of the MLB.

While some teams have already announced that they have backed out of the Ohtani sweepstakes, several clubs are remaining as contenders to sign the two-time MVP. The Los Angeles Dodgers, Toronto Blue Jays, San Francisco Giants, Chicago Cubs, and Los Angeles Angels are considered the favorites to sign the superstar.

"Steve Phillips believes the Blue Jays should be considered the favourites to land Ohtani. (H/T:@FirstUp1050)" - @TSN_Sports

A number of free agents are expected to sign after Shohei Ohtani finalizes his new deal

Unsurprisingly, the Ohtani sweepstakes have become the top priority for a number of teams. Once a decision is finally made, it is expected that the offseason will truly kick off with a number of free agents expected to not only wait until Ohtani signs but gauge the market based on where he lands.

Yoshinobu Yamamoto is one of the most sought-after pitchers who is expected to wait until Ohtani signs a deal. Teams such as the Los Angeles Dodgers have not only been linked to Yamamoto but other free agents and trade targets such as Dylan Cease this offseason. This means that if Ohtani signs elsewhere, they will likely ramp up their pursuit of other stars.

"Yoshinobu Yamamoto is one of the Red Sox' top priorities at the @MLB Winter Meetings. Yamamoto is expected to sign *after* Shohei Ohtani and before the end of the month. @MLBNetwork" - @jonmorosi