Tanaka has reportedly agreed to a 7-year deal worth $155 million dollars.

The Yankees will also pay $20 million to the Ratuken Golden Eagles, Tanaka's team in Japan.  Tanaka has an opt-out clause built in after four seasons.

The Yankees were amongst the "final five" teams vying for Tanaka's services, and ended up outbidding the Los Angeles Dodgers, Chicago Cubs, Chicago White Sox, and Arizona Diamondbacks.