The Masahiro Tanaka sweepstakes are over.
The 25-year-old Japanese ace signed a seven-year, $155 million deal with the Yankees on Wednesday, according to Fox Sports' Ken Rosenthal. He can opt-out of the deal after the fourth year, Rosenthal reports.
Tanaka was 24-0 with a 1.27 ERA, 0.94 WHIP and 183 strikeouts in 212 innings in leading the Rakuten Golden Eagles to the Japan Series title last season. In seven professional seasons in Japan, he was 99-35 with a 2.30 ERA and a 1.11 WHIP.
The Yankees will also pay Rakuten a $20 million posting fee.
The Dodgers, Cubs, White Sox and Diamondbacks were also in the mix for Tanaka, who had until 5 p.m. ET on Friday to decide on an MLB team to sign with, or return to Japan.
Multiple outlets, including The New York Times, are reporting that the Tanaka deal will bring the Yankees well above the $189 million luxury tax for next season, meaning they will continue to pay 50 percent in taxes on every dollar spent over that amount.
BREAKING: Tanaka to #Yankees, seven years, $155M, opt-out after fourth year.
— Ken Rosenthal (@Ken_Rosenthal) January 22, 2014
Tanaka contract with #Yankees is fifth-highest for a pitcher. Kershaw, Verlander, Felix, CC, Tanaka. — Ken Rosenthal (@Ken_Rosenthal) January 22, 2014