ARLINGTON (CBSDFW.COM) — The biggest name on the market is no longer free — and he’s not a Texas Ranger either.

CBS Sports’ Jon Heyman confirms that the Yankees have agreed to a seven year, $155 million contract with Japanese pitcher Masahiro Tanaka. The deal includes an opt-out for Tanaka after the fourth season.

Tanaka became the first player to sign under the new deal between MLB and Nippon Professional Baseball, which caps posting fees at $20 million. Tanaka was free to negotiate with any team that matched the maximum bid.

Speculation swirled that the Rangers would re-enter the Tanaka sweepstakes following the news of Derek Holland’s injury. But recent reports named the Yankees, Dodgers, Cubs, White Sox and Diamondbacks as the most aggressive suitors.

The 25-year-old right-hander went 24-0 with a 1.27 ERA with the Rakuten Golden Eagles during the regular season, leading the team to the Japan Series title.

Ken Rosenthal reported the deal first.

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