Yankees Sign Soriano

[love_that_reefer]

Per mlbrumors.com:

The Yankees have agreed to terms with Rafael Soriano, reports SI.com's Jon Heyman (all Twitter links). The deal is believed to be worth $35MM over three years, and will allow the player to opt out after either of the first two years. Soriano is represented by Scott Boras, and the contract is pending a physical.

The deal comes just days after GM Brian Cashman said that he would not surrender his first round pick to sign a free agent. The Rays will receive New York's first round pick (31st overall) as well as a supplemental first round pick as compensation for their loss.

The 31-year-old Soriano was the top closer on the market, but he's going to have to serve as Mariano Rivera's setup man with the Yankees. He pitched to a 1.73 ERA with 8.2 K/9 and just 2.0 BB/9 in 62.1 innings last year, the second straight season he's avoided the disabled list. He's battled elbow trouble in the past, including Tommy John surgery back in 2004.

At an $11.67MM average annual value, Soriano will be the fifth highest paid reliever in baseball, trailing only Rivera, Brad Lidge, Francisco Rodriguez, and Joe Nathan. Jonathan Papelbon's eventual 2011 salary could also factor into that equation soon enough. It's a healthy raise from the $7.5MM Soriano earned in 2010, which came after the accepted the Braves offer of arbitration last offseason. With Billy Wagner already on board, it pushed Atlanta to trade him to Tampa.

Heyman adds that the Yankees still have about $20MM to spend before they hit their 2011 payroll limit (Twitter link). That's plenty for a right-handed outfield bat and a starting pitching, even if they wait for a salary dump situation to arise during the season.

One thing's for sure, the Rays and Jays are stacked with draft picks. Another thing's for sure, the Yankees just got one hell of a setup guy! Soriano was the best closer last year in my opinion and the Yankees landed him. Its an interesting deal for Soriano having the ability to opt out after the first two years. The closer market for next year won't be as deep as it was this year so he might get his pay day. I also think this opens up an opportunity to trade Joba Chamberlain. Just a thought. Good signing by the Yankees but forking over two picks to one of the best drafting/player development organizations has to sting. They better win.

[love_that_reefer]

So far this hasn't been a very good signing for the Yankees. Soriano keeps dealing with elbow soreness and he is not happy with the setup role. We all knew he was overpaid at the time of the signing but its becoming more and more a fact with each passing day.

[cjkalt]

Yea we all knew he took the money and would demand to be traded to closer's role later... seems to be the athlete MO these days

[love_that_reefer]

My only question is if he will opt of of his contract and take less money to be a closer somewhere in a market fill with closers? Seems like Soriano is stuck with the Yankees and vice versa.

[Pronk]

So far this hasn't been a very good signing for the Yankees. Soriano keeps dealing with elbow soreness and he is not happy with the setup role. We all knew he was overpaid at the time of the signing but its becoming more and more a fact with each passing day.

He also has been sucking. Allowing 9 earn runs in 15 innings. Also having 11 walks in those innings and he only has 10 K's. Not producing for the money.

[love_that_reefer]

After a visit to Dr. James Andrews, Soriano will be out 6-8 weeks.

[Kingdom]

Ouch. And now the pitchers will drop like flies.