Masahiro Tanaka is set to meet with as many as 12 major league teams over the next couple days, according to Jon Heyman of CBSSports.com.
Tanaka and his representatives have until Jan. 24 at 5 p.m. ET to have a contract and physical completed with any team that signs him.
Among the teams reportedly interested in Tanaka are the Los Angeles Dodgers, New York Yankees, Chicago Cubs and Texas Rangers.
Tanaka, 25, had a 24-0 record with a 1.27 ERA last season in the Japanese League. Whichever team signs the right-hander will have to pay a $20 million fee to the Rakuten Golden Eagles, Tanaka's club in Japan.
More from Heyman on CBSSports.com:
The Yankees along with the Dodgers are the richest teams and in the best financial position to win the pitcher, but New York's case is complicated a bit by its desire to stay under the $189-million luxury-tax threshold. Should the Yankees sign Tanaka, they may have to offload a few other contracts to have any chance to get under the $189-million mark, though their desire for the player may ultimately cost them the ability to do so -- especially if Alex Rodriguez receives a favorable ruling from baseball's arbitrator and doesn't have to sit out the entire 2014 season in the Biogenesis/PED case.