Chicago Cubs

Tanaka signs with Yankees as Cubs, Sox miss out

Japan's Masahiro Tanaka pitches against the Netherlands in the fifth inning of their World Baseball Classic second round game at Tokyo Dome in Tokyo, Tuesday, March 12, 2013. (AP Photo/Toru Takahashi)
Japan's Masahiro Tanaka pitches against the Netherlands in the fifth inning of their World Baseball Classic second round game at Tokyo Dome in Tokyo, Tuesday, March 12, 2013. (AP Photo/Toru Takahashi)

NEW YORK – Yankees co-chairman Hank Steinbrenner says the team has agreed to a $155 million, seven-year contract with prized Japanese pitcher Masahiro Tanaka, spurring the Cubs and White Sox among several other teams.

Along with the contract, first reported by Fox, the Yankees must pay a $20 million fee to the Japanese team of the 25-year-old right-hander, the Rakuten Golden Eagles.

Tanaka caps an offseason that saw the Yankees add Jacoby Ellsbury, Brian McCann and Carlos Beltran.

Steinbrenner said Wednesday that "we had to make sure we had enough pitching to go together with our new lineup."

Big league teams had until Friday to reach an agreement with Tanaka, who was 24-0 with a 1.27 ERA last year as the Golden Eagles won the Japan Series title.

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