Yanks get their man, CC agrees to 7 year, $161M deal pending physical

CC Sabathia has decided to sign the richest contract of any pitcher in Major League history with the New York Yankees. An official announcement will not be made until many items can be agreed upon and reflected in the contract's language. Sabathia must also pass a physical examination, but that is expected to be a mere formality.

An additional season and $20 million, authorized by Hal Steinbrenner and offered in the final minutes, sweetened the package. The deal now represents a record-setting seven-year pact for about $161 million, adding to the original offer presented to Sabathia on Nov. 14, which was reported to be for $140 million over six years. Reports on Wednesday afternoon said the package is worth $161 million and will include a buyout clause that will give Sabathia the right to opt out after three years, which was added to allay any concerns Sabathia and his family had about living in New York.