The New York Yankees have reportedly reached an agreement with free agent first baseman Mark Teixeira on an eight year deal worth $180 million.

The Yankees’ bitter rivals, the Boston Red Sox had been favored to land the slugger but the Bronx Bombers once again won the war of the pocketbooks. Teixeira’s deal takes the Yankees’ off season tab up to $423.5 million to three players over an 8 year period, and also gives the team famous for it’s spending, the 4 highest paid players in the game (Teixeira, Sabathia, Jeter, and Rodriguez).

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The Free Agent pool of players got a bit bigger at midnight on Friday when players who were not tendered contract offers from their teams became free agents. I’ve broken the list down by position and as you can see, there are a few surprises here including former Dodgers closer Takashi Saito (2.49 ERA and 18 saves) and Nationals starter Tim Redding (10 wins).

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The Milwaukee Brewers talks with the Yankees about outfielder Mike Cameron are reportedly back on and quite close. The New York Post is reporting that the deal would send Kei Igawa and Melky Cabrera to the Brewers in exchange for Cameron. The only issue left, according to the Post, is how much (if any) of the remaining $12 million due Igawa over the next three years the Yankees will pick up. The Brewers are looking to shift Cameron’s salary towards their rotation but $4 million a year for a pitcher with a 13.50 ERA and only one start last year isn’t what they had in mind.

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The New York Yankees continued their offseason spending spree, signing AJ Burnett to a 5 year deal worth $82.5 million. The Yankees appear to be capitalizing on the down turn in the economy, going on a historic spending spree while the rest of the league has been cutting costs and keeping a sharp eye on their bottom line. Earlier this week the Yanks inked CC Sabathia to a 7 year, $161 million deal, the largest ever contract for a pitcher. The latest signing is pending a physical which is usually a formality, however, with the injury prone Burnett there are no guarantees.

If you thought committing a total of $243.5 million over the next 7 years would take the Yankees out of shopping mode, think again. The New York Post reports that they’ve now joined the bidding for first baseman Mark Teixeira, with Manny Ramirez as a backup option should they lose out on the switch hitting first baseman.

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The New York Yankees have reached a preliminary agreement with free agent pitcer C.C. Sabathia. The deal is reportedly for 7 years and $161 million with an opt-out clause (similar to the one A.J. Burnett exercised this year to become a free agent) after the third year. The deal is the biggest ever given to a pitcher, with an average annual value of $23 million, and is the 4th biggest contract overall, coming in behind the two deals given Alex Rodriguez and Manny Ramirez’s previous contract.

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Teams have until midnight eastern time tonight to extend offers of arbitration to their free agents and I’ll be updating this page as often as news becomes available about teams’ arbitration actions.

Update

The offers are all in, and according to the AP only 24 players were offered arbitration. The list is as follows:

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Orange County Register reporter, Randy Youngman, doesn’t think free agent slugger Mark Teixeira will be back with the Los Angeles Angels next year. He calls it a “gut feeling” and mentions that the people he talks to within the Angels organization don’t seem optimistic about the slugger’s return. Instead, Youngman predicts, Teixeira will sign with [...]

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The New York Yankees have resigned left-handed reliever Damaso Marte to a three year deal, reportedly worth a total of $12 million. The Yankees acquired Marte from the Pirates last season in a deal at the trade deadline and apparently liked what they saw enough to bring him back.
The hard throwing reliever saw his ERA [...]

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Houston Astros New Era Authentic Hat Cap Baseball 7 1 4
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The Houston Astros (inexplicably acting like buyers) have traded for reliever LaTroy Hawkins from [...]

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The New York Yankees recently lost Jorge Posada to season ending surgery, so what do they do? They go out and get another perennial all-star to take his spot.
The Detroit Tigers and New York Yankees have reportedly agreed to a deal that will send Ivan “Pudge” Rodriguez to the Yankees in exchange for pitcher Kyle [...]

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