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Yankees and pitcher Masahiro Tanaka agree to $155 million, 7-year contract

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FILE - In this March 12, 2013, file photo, Japan\'s Masahiro Tanaka pitches against the Netherlands in the fifth inning of a World Baseball Classic second round game at Tokyo Dome in Tokyo. The New York Yankees and Tanaka agreed on Wednesday, Jan. 22, 2014, to a 55 million, seven-year contract. In addition to the deal with the pitcher, the Yankees must pay a 0 million fee to the Japanese team of the 25-year-old right-hander, the Rakuten Golden Eagles. (AP Photo/Toru Takahashi, File)

NEW YORK, N.Y. – Yankees co-chairman Hank Steinbrenner says the team has agreed to a $155 million, seven-year contract with prized Japanese pitcher Masahiro Tanaka.

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 off-season 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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