According to SI.com's Jon Heyman, the Angels and Bobby Abreu reached an agreement on a one-year deal worth a little more than $5MM plus incentives.
Abreu, 35 in March, hit .296/.371/.471 in 684 plate appearances for the Yankees last year while playing poor defense. He earned $16MM in '08. Many questioned Brian Cashman's decision not to offer arbitration to Abreu, a Type A free agent. The decision was wise, as Abreu ended up taking a 69% pay cut in base salary. At the beginning of the offseason, most people expected him to get multiple years and at least $10MM per.
In Abreu, the Angels add some much-needed OBP to a team that ranked 11th in the AL last year in the crucial stat.