UPDATE (4:41PM): Wang’s deal is for 1 year/$2million; Can Earn 3 million in incentives.

Tipped off by our friends at MLBtraderumors, Chien Ming Wang has agreed to terms with the Washington Nationals. Contract figures have yet to be disclosed, but since Wang has less than 6 years of MLB service, he won’t be a free agent until 2011. We’ve covered CMW’s fall from grace before.

Talk about a fall from grace, ace of the Yanks to the Nats. We’ve covered CMW in depth before, but this is the final nail in the coffin.

Side Note: The Nationals will pair Wang(when healthy) with Jason Marquis, Jon Lannan, and hopefully Steven Strasburg. The Nationals could be respectable this season! Good for them..