Feb 17, 2012, 1:40 PM EDT
UPDATE: No word yet on the cause of the failed physical, but the Yankees have released Okajima.
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.
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