12/23/2008 03:29:00 PM

Olney: Yankees Reach Agreement With Teixeira

Posted by Mark McCray |


WELCOME TO NEW YORK, MR. TEIXEIRA (sorry about what I said about you in those earlier posts! Please don't hold it against me!) !!!

Buster Olney/ESPN.com:


Free agent first baseman Mark Teixeira has reached agreement with the New York Yankees on an eight-year contract worth more than $170 million, a source involved in the negotiations tells ESPN The Magazine's Buster Olney.

The Yankees swooped in on Teixeira on Tuesday when it was believed the Boston Red Sox or the Washington Nationals were the likeliest of his future employer. The Red Sox's offer was believed to be in the range of $170 million, and the Nationals reached out with an offer perhaps greater than that of Boston.

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