Terms of the new posting agreement between MLB and Japanese baseball

Rakuten Eagles pitcher Masahiro Tanaka hurls the ball

Rakuten Eagles pitcher Masahiro Tanaka hurls the ball against the Yomiuri Giants on the way to win the Japan Series professional baseball championship at Sendai in Miyagi. (Nov. 3, 2013) (Credit: Getty)

The revised protocols for the posting system shared by Major League Baseball (MLB) and Nippon Professional Baseball (NPB) announced Monday:

If an NPB team wishes to make one of its players available to major-league teams, the NPB shall notify the Office of the Commissioner of the NPB player's potential availability and the "release fee" that a major-league team must pay to the NPB team in order to secure the NPB player's release. The NPB team may not set the release fee at an amount higher than $20 million and the fee cannot be changed once it has been set by the NPB team.

The Office of the Commissioner shall then "post" the NPB player's availability by notifying all major-league teams of the NPB player's availability and the release fee sought by the NPB team.

All "postings" of NPB players must be made between Nov. 1 and Feb. 1.

Beginning the day after the player is posted, and concluding 30 days later, any major- league team willing to pay the release fee set by the NPB team may then negotiate with the player in an attempt to reach an agreement on a contract.

If a major-league team is able to reach an agreement on a contract with the posted NPB player, the major-league team must pay the NPB team the designated release fee, which will occur in installments, the timing of which depends on the size of the release fee.

If the posted NPB player fails to reach an agreement with a major-league team, the release fee is not owed, the NPB player remains under reserve to his NPB team, and the player may not be posted again until the following Nov. 1.

The term of the new posting agreement is three years, continuing from year to year thereafter until either the Office of the Commissioner or the NPB gives notice of its intent to terminate the agreement 180 days before the anniversary of the commencement of the agreement.

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