Via Nikkan Sports (translated article): The Yankees were one of several teams to submit a formal offer to Masahiro Tanaka by Thursday, which apparently was Tanaka’s self-imposed deadline for offers. He has until 5pm ET on Friday to sign. Guess he wanted a few days to mull things over.
The Dodgers, Diamondbacks, White Sox, and Cubs also made offers according to Nikkan Sports, and all of the offers were worth more than $100M across six years. Reports out of Japan have been very sketchy throughout this entire process — at one point they said Tanaka would not be posted at all — so take this with a huge grain of salt. This whole thing will be over within six days, one way or another.