Found December 15, 2011 on Fox Sports:
The New York Yankees submitted a posting bid for Japanese ace Yu Darvish before Wednesday's 5 p.m. deadline, the New York Post reported, citing sources. If the bid is accepted by his Japanese team the Hokkaido Nippon-Ham Fighters, the Yankees will be in position to get exclusive negotiating rights to the 25-year-old right-hander. The only other known team to have made a bid as of 7:00pm Wednesday was the Chicago Cubs. Nippon has until 5:00pm Tuesday to accept a bid. If Hokkaido accepts the high bid, as expected, the winning major league club will gain exclusive negotiating rights to Darvish for 30 days. The 26-year-old will return to the Fighters only if he is unable to agree on a contract with the high bidder. His friend, right-hander Hisashi Iwakuma, failed to reach agreement with his high bidder, the Oakland Athletics, a year ago. Darvish's posting fee could exceed the Red Sox's winning $51 million bid for Daisuke Matsuzaka, and Darvish's contract also could be worth more than Matsuzaka's six-year, $52 million deal, FOX Sports has reported. Darvish went 18-6 with a career-best 1.44 ERA last season, striking out 276 and walking only 36 in 232 innings. Read more here

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