It appears as though the Orix Buffaloes won't be giving up on Jeremy Powell just yet. They made an announcement earlier today informing the press that they have submitted papers to the commissioners office to investigate the doubled-up contract situation.
Buffaloes GM Katsuhiro Nakamura was quoted as saying, "If contracts that are submitted later take precedence over all others, the future of baseball will be in trouble."
I'll be REALLY interested to see how thing turn out if Powell is required to join the Buffaloes after all is said and done. I'm not sure if Powell will be a willing participant and could cause the Buffaloes more problems than not.
UPDATE 2/14/2008: The Buffaloes are pushing for a season long suspension extension instead of the current 1-month suspension that was handed down by the commissioner's office earlier on.
I was trying to find out what the contracts were like and here is what I've found out:
The Softbanks Hawks apparently offered Powell a 1 year deal worth about $930,000. The Buffaloes contract was slightly less at 1 year and about $512,000. The contract does also appear to have a performance clause that could be worth upwards of about $465,000.
The Hawks are offering better guaranteed money to Powell, but if pitches well this season, the contract the Buffaloes offered could be worth more.