The Yankees bid less than $20 million for Yu Darvish, according to a baseball official with knowledge of the process.
The Yankees were expected to put forth a modest proposal for the Japanese pitcher, and it turns out the Texas Rangers more than doubled the Yankees' bid and may even have tripled it. The Rangers bid nearly $52M for the rights to negotiate with Darvish.
The Yankees liked Darvish, but could not be sold that his stuff and his makeup would translate in the majors. From Kei Igawa to Hideki Irabu, the Yankees have seen firsthand that Japanese pitchers often aren't successful in the majors. So they weren't prepared to go all-out for a pitcher who hasn't thrown even once in the majors.