Hisashi Iwakuma's cash demands quash A's interest

TOKYO (Reuters) - Japanese pitcher Hisashi Iwakuma's move to Major League Baseball is on ice after talks with the Oakland Athletics broke down, local media said on Monday.

The highly rated 29-year-old will stay with Japan's Rakuten Eagles because the Athletics would not increase their initial offer, the Nikkan Sports daily reported.

Iwakuma had reportedly asked for a seven-year package worth around $125 million, forcing the A's to pull out of negotiations and leaving him with no option but to remain in Japan.

Under the Japanese posting system, he can not move to another MLB club until next November as Oakland won the right to negotiate exclusively with the right-hander.

Iwakuma, the former Japanese Pacific League MVP, went 10-9 with a 2.82 ERA for the struggling Eagles this year with four complete games and a shutout.

(Reporting by Alastair Himmer. Editing by Greg Stutchbury)