According to sources, star Japanese pitcher and the New York Yankees have agreed on a 7-year, $155M contract that includes an opt-out after the fourth year, which averages out to roughly $22M annually.
With the signing, the Yankees, although failing to reach the previously-mandated $189M threshold and will not be able in all likelihood to come in under the luxury tax threshold, the Yankees have managed to add more talent than any other team in baseball - catcher Brian McCann, outfielders Jacoby Ellsbury and Carlos Beltran, and now Masahiro Tanaka were all ranked at or near the top of their positions in the 2014 free agent class. After failing to make the playoffs in 2013, they have made it clear they intend not to repeat with a dismal 2014 campaign.
That said, the Yankees are still not a team without holes - second and third base are question marks thanks to Robinson Cano's departure and Alex Rodriguez's suspension, left with Kelly Johnson, Dean Anna, Brian Roberts, and Eduardo Nunez to man the positions, and nobody knows whether Derek Jeter or Mark Teixeira will be at full strength, half strength, or able to play much at all. And in the post-River bullpen, many are worried about David Robertson's ability to close games and the rest of the 'pen's ability to bridge the middle innings. Still, by signing Tanaka, the Yankees have shored up their rotation to some degree, leaving only one spot, not two, open for competition when spring training opens.
And more so, Hal Steinbrennar has finally demonstrated that winning, not money, is his most important goal, just like his father's.