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Seibu banks Sox' $51.1 mil

TOKOROZAWA, Japan (AP) -- The Seibu Lions have received the $51.1 million the Boston Red Sox bid for the right to negotiate with star pitcher Daisuke Matsuzaka.

The Pacific League team received the money in a bank transfer from the Red Sox on Wednesday, according to club officials.

Team president Hidekazu Ota said the money will be put to good use.

``It will be used for a variety of purposes,'' Ota said. ``Strengthening our current team, promoting the development of youth baseball and providing improved services to our fans.''

Last week, Matsuzaka agreed with the Red Sox on a six-year, $52 million contract, ending a month of negotiations.

Last year, a Japanese court convicted Lions team owner Yoshiaki Tsutsumi of insider trading and falsifying company records. Seibu's parent company, Seibu Railways, was fined 1.73 million, and Tsutsumi's privately owned company, Kokudo Corp., $1.3 million.

Posted by Mike McDermott  at 11:31 AM | Permalink