Yankees release Hideki Okajima after failed physical exam

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UPDATE: No word yet on the cause of the failed physical, but the Yankees have released Okajima.

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Hideki Okajima, who signed a minor-league contract with the Yankees in December, has failed his physical exam according to David Waldstein of the New York Times.

Waldstein speculates that the Yankees will void his contract and make the 36-year-old reliever a free agent again, although it’s also possible that they could simply alter the terms of the contract and keep him around in the minors.

Okajima pitched his way out of the Red Sox’s plans after three seasons as a top-notch setup man, but was excellent at Triple-A last year with a 2.29 ERA and 49/8 K/BB ratio in 51 innings.