After weeks of speculation, the Rakuten Golden Eagles made it official on Christmas Day, announcing that star pitcher Masahiro Tanaka would be posted and allowed to play in the majors next season.

“There are many problems in the new posting system. And the club, which owns a precious player, feels it is unequal,” Rakuten president Yozo Tachibana told a news conference, without disclosing the release fee the club wants. “But we have highly appreciated pitcher Tanaka’s seven-year contribution to the team … and accepted his wish to challenge the major leagues.”

Tanaka told reporters: “I want to continue my baseball career by firmly bearing in mind what I have achieved (at Rakuten).”

Any team that bids $20 million will have 30 days to reach a deal with Tanaka. The posting period began at 8:00 a.m. EST this morning as all 30 teams were advised that Tanaka was now on the market.

The 25-year-old spent this past season with the Rakuten Golden Eagles and won the Japanese Championship. It was the first ever championship for the Golden Eagles. The right-hander was dominant this year, he finished the regular season with a record of 24-0 and an ERA of 1.27. He won his second Eiji Sawamura Award (the Japanese Cy Young Award) and was also named Pacific League MVP with all 233 first-place votes — the first unanimous selection since 1965.

To say that Tanaka will be highly sought after would be an understatement. Scouts rave about his pinpoint accuracy, dominating fastball, lethal split finger pitch, and incredible stamina on the mound. Many see Tanaka as a potential #1 starter and Cy Young Candidate within the next three to five years.

However the new posting system has put a limit on what the Golden Eagles can recover for the star pitcher, as the maximum transfer fee is now $20 million. Should multiple teams bid this amount, then Tanaka will have the ability to negotiate with each of the teams. Effectively the new system gives more leverage to the player, and less to his Japanese club.

Add to that a relatively weak free agent class where the likes of Matt Garza, Ervin Santana, and Ubaldo Jimenez as the best available free agent starters, and Tanaka’s contract could eclipse $100 million.

Teams rumored to be interested in bidding on Tanaka include the Yankees, Cubs, Angels, Dodgers, Diamondbacks, and Blue Jays. However there is sure to be even more come bid day.

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