11:30pm: Iwakuma's deal is worth at least $14MM over two years, tweets Jon Heyman of CBSSports.com. The right-hander will get $6.5MM in 2013, $6.5MM in 2014, and a $1MM buyout if his $7MM option for 2015 is declined.
10:13pm: The Mariners announced that they have agreed to a new deal with right-hander Hisashi Iwakuma that will extend him through 2014 with an option for 2015. Iwakuma is a client of the Wasserman Media Group.
Seattle had exclusive negoatiating rights with the pitcher through tomorrow night. If General Manager Jack Zduriencik did not reach agreement with Iwakuma by the deadline then the hurler would not have been able to pitch until May 15th.
The M's inked Iwakuma to a one-year, $1.5MM deal last year and did well in his debut MLB season. The 31-year-old 3.16 ERA with 7.3 K/9 and 3.1 BB/9 in 16 starts and 14 relief appearances.