LOS ANGELES — The Dodgers’ latest investment became official on Friday.

Free-agent outfielder Teoscar Hernandez was added to the roster after his one-year, $23.5 million contract with the Dodgers became official. The contract reportedly will pay Hernandez $15 million in 2024 with $8.5 million deferred to the years 2030-39.

He also has provisions for large bonuses: Hernández would get $3 million if he finishes among the top five in MVP voting, $2 million if he is sixth through 10th and $500,000 if he is 11th through 15th. He would get $1 million for his third Silver Slugger Award.

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Hernandez’s signing takes the Dodgers’ outlay for new contracts this offseason over $1.2 billion with two-way star Shohei Ohtani, and pitchers Yoshinobu Yamamoto and Tyler Glasnow the biggest expenses.

Ohtani’s record $700 million, 10-year contract includes $680 million in deferred payments. The Dodgers owe deferred payments to Ohtani, Mookie Betts, Freddie Freeman and Hernández totaling $865.5 million from 2033-44.

The Dodgers cleared room for Hernandez on their 40-man roster by trading top prospect Michael Busch and reliever Yency Almonte to the Chicago Cubs on Thursday in exchange for low minor-leaguers Jackson Ferris, a left-handed starting pitcher, and outfielder Zyhir Hope. Ferris spent last season at Class-A and Hope played briefly in the Arizona Complex League after being drafted by the Cubs in the 11th round of last year’s draft. Neither was added to the 40-man roster.