The New York Yankees have agreed to terms on an incentive-laden minor league deal with reliever Andrew Bailey, according to Buster Olney of ESPN.com. Olney notes that the major-league side of the deal is worth $2.5MM, and that the contract includes an option for 2015 and a buyout.
Bailey, who turns 30 in May, will be sidelined until May or June as he works his way back from labrum surgery that ended his 2013 season in July. He will likely join the Yankees' major league bullpen midseason, joining right-handers Shawn Kelley, Preston Claiborne, Dellin Betances in closer David Robertson in an already-strong group.
Bailey spent the last two seasons with the Red Sox after coming over in a trade after the 2011 season that sent Josh Reddick to Oakland in exchange for Bailey and Ryan Sweeney. In 49 relief appearances for the Sox, the 2009 AL Rookie of the Year was 4-2 with a 4.91 ERA and 14 saves, never living up to the expectations he set with his first two All-Star seasons with the Athletics. He was non-tendered by the Red Sox in December, and drew strong interest before deciding to head to the Bronx.
In five major league seasons, Bailey is the holder of a lifetime 11-12 record and 2.64 ERA while notching 89 saves in 206 appearances. He was named to the AL All-Star team in 2009 and 2010.