The New York Yankees have signed relief pitcher Rafael Soriano to a 3-year deal worth $35 million.
Sports Illustrated’s Jon Heyman was the first to report the deal late Thursday night.
Soriano has player options after the first and second years of the deal, which essentially creates three separate one-year contracts. In the first year, he will receive $10 million and get an additional $1.5 million if he opts out. In the second year, he’ll receive $11 million and an additional $1.5 million if he opts out. He’ll receive $14 million in the third and final year of his contract.
Soriano will become the Yankees set up man replacing Kerry Wood. New York now has the first and third highest paid relief pitchers in major league baseball at the back end of their bullpen.
The former Tampa Bay Rays closer was successful on 45 of 48 save chances last season. The 31-year-old righty was 3-2 with a 1.73 ERA in his only year with the Rays and was a member of the AL All-Star team.
Super Agent Scott Boras does it once again.
More to come…
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