UPDATE 9:26 PM EST: The Pirates also sent cash considerations ($250K of the $485K in salary difference) to the Yankees, according to Joel Sherman of the New York Post.
Original Story: The New York Yankees have acquired infielder Casey McGehee from the Pittsburgh Pirates in exchange for relief pitcher Chad Qualls, according to Joel Sherman of the New York Post. The deal gives New York some insurance while Alex Rodriguez deals with injury issues and the Pirates add another arm to the bullpen.
McGehee, 29, struggled badly to start the season, though he's played much better of late. His overall numbers for the year are still pretty miserable, but he's posted a .255/.307/.455 line with eight homers in 179 plate appearances since the beginning of June.
The Pirates land a struggling veteran reliever in Qualls, who has a 4.89 ERA in 43 appearances with New York this year. There are some reasons for optimism, though, including a track record of relative success and a higher average fastball velocity than he's shown in his entire career.