The New York Yankees have agreed to a three-year, $35 million deal with reliever Rafael Soriano, a source confirmed to us. Soriano will be an eighth-inning setup man for longtime closer Mariano Rivera.
Soriano must still pass a physical to complete the contract.
Soriano has player options after the first and second years of the deal, according to the source. In the first year, Soriano 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 get $14 million in the third year of his contract.
An official said the player options were the Yankees' idea because they wanted Soriano to be comfortable. At least one official in the organization thinks they have the best bullpen in baseball.
Soriano led the AL with 45 saves last season for Tampa Bay and then became a free agent. The 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.
According to a baseball official, the idea is that if Rivera retires after his two-year deal expires, Soriano, 31, will be the heir apparent at closer.
Soriano's contract does not include a no-trade clause, a source told us also.
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