Rafael Soriano, Yankees Reportedly Reach 3-Year Deal

Filed under: Rays, Yankees, MLB Rumors, MLB Hot Stove, MLB Free Agency

Rafael Soriano led the American League in saves in 2010, but he apparently will be a high-paid setup man in 2011.

Soriano has agreed to terms with the Yankees, SI.com reports. The three-year deal reportedly is worth about $35 million. Soriano also apparently can opt out of the deal after one or two years -- though at that salary it's difficult to fathom why he would. If he opts out after next year, he'll make $11.5 million, and his salary for two years would be $21.5 million, according to the New York Times.

As New York already has a fairly well-established closer by the name of Mariano Rivera, Soriano will be pitching in the eighth inning or earlier most nights. Rivera signed a new two-year contract this offseason, and now that Trevor Hoffman has retired he's only 43 saves from taking the all-time lead. So Soriano won't get much ninth-inning work.

Source: http://mlb.fanhouse.com/2011/01/13/rafael-soriano-yankees-reportedly-reach-3-year-deal/

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