Masahiro Tanaka bidding begins on Thursday morning and will conclude by January 24

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Japanese right-hander Masahiro Tanaka went 24-0 with a 1.27 ERA and 183 strikeouts in 212 innings this past summer for the Rakuten Golden Eagles of Nippon Professional Baseball and was cleared on Tuesday evening to pursue his dream of pitching at the sport’s highest level: Major League Baseball. Mark Feinsand of the New York Daily News lays out the details for the big-money bidding war that will play out in the weeks ahead:

The Cubs, Yankees, Angels and Diamondbacks are just a few of the teams that have expressed serious interest in the star 25-year-old right-hander. He could command more than $100 million in guaranteed money.

Reds ink Oliver Perez to a minor-league deal

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The Reds have signed free agent reliever Oliver Perez to a minor-league contract, the team announced Saturday. The deal comes with a major-league invite and could be worth $1.25 million if Perez secures a roster spot this spring, with an additional $500,000 in potential performance bonuses.

Perez, 36, is coming off of a two-year run with the Nationals. He produced a 4.64 ERA, 3.3 BB/9 an d10.6 SO/9 through 50 relief appearances and 33 innings with the club in 2017. The veteran lefty hasn’t kept an ERA under 4.00 in at least four seasons, but he continues to be undeniably solid against left-handed batters, holding them to a .227/.301/.364 batting line over 18 1/3 innings last year.

While returning southpaw Wandy Peralta appears to have locked down a bullpen spot already, Perez will still compete for another role against fellow left-handers Cody Reed and Amir Garrett, both of whom also have experience in the rotation. If Perez doesn’t break camp with the team, MLB.com’s Mark Sheldon notes, he’ll be permitted to opt out of his contract. The Reds are currently looking to bounce back from a dismal performance in 2017, one in which their bullpen ranked 28th among major league teams with a collective 5.63 ERA and -1.2 fWAR.