Nippon Professional Baseball and Major League Baseball have reached a basic agreement on a new posting system, sources said Thursday.

It is thought that an agreement has been reached after MLB requested a posting fee cap of $20 million. The move will be formalized once the two sides have ironed out the details.

"A draft is being prepared and hopefully both MLB and NPB can sign an official decision," said NPB secretary general Atsushi Ihara.

The implementation of the new system would pave the way for Tohoku Rakuten Eagles pitcher Masahiro Tanaka to sign with a major league team this winter.

Tanaka told Rakuten during contract negotiations in December last year that he hopes in the future to pursue a career in the major leagues. He has not clearly stated that he wants to make the move this off season.

NPB on Tuesday discussed with representatives of the Japan's 12 teams MLB's demands of a maximum posting fee of $20 million and although Rakuten showed reluctance to the proposal, it accepted the idea and resolution was passed.