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Reports: Masahiro Tanaka agrees to deal with Yankees

01.22.14 at 9:52 am ET

According to multiple reports, Masahiro Tanaka has agreed to a seven-year, $155 million contract with the Yankees. ESPN’s Buster Olney tweeted that there is an opt-out after the fourth year of the deal.

Major league teams faced a Friday deadline to finalize an agreement or else Tanaka would have returned to his Japanese team. The Cubs and Dodgers were also believed to be making a strong push for him, with the Mariners, Diamondbacks, White Sox and Astros showing interest.

A 25-year-old right-hander, Tanaka went 24-0 with a 1.27 ERA for the Rakuten Gold Eagles of Japan’s Pacific League in 2013.

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