New York Yankees pitcher Masahiro Tanaka announced today he will forego exercising his right to opt out of his contract with the Yankees this offseason. Tanaka signed a 7 year, $155 million deal with New York prior to the 2014 season which included the right to opt out of the deal after season four. He will instead be paid $67M over the next three years.
The 30 year old Tanaka had his worst season in the majors in 2017, putting up a 4.74 ERA and a 4.34 FIP in 178 IP. He also has a partially torn UCL which he has pitched with since 2015, rather than going with Tommy John surgery. While the combination of a bad 2017 season and questions about his UCL would seem to make staying with New York and the guaranteed $67 million, there was some speculation that, with a weak free agent pitching class, Tanaka might look to try to find a longer-term deal with more guaranteed money.