Yankees sign Travis Hafner

UPDATE 6:30 p.m. ET: Travis Hafner's one-year deal with the Yankees is complete, pending a physical, reports Paul Hoynes of the Plain Dealer:

It's been confirmed by a source and multiple reports that Travis Hafner has agreed to terms on a one-year deal with the New York Yankees...

It's believed the deal is contingent on Hafner passing a physical.

UPDATE 5:30 p.m. ET: Hafner's one-year deal with the Yankees -- which is still awaiting final confirmation -- is believed to be in the neighborhood of $2 million guaranteed, per Ken Davidoff of the New York Post.

Original Story: The New York Yankees are on the verge of signing free agent designated hitter Travis Hafner, according to Chad Jennings of The Journal News.

The Yankees are close enough to a deal with Travis Hafner that it could be announced later today or tomorrow. Sources have indicated that the deal is in place, just waiting for the contract language to be agreed upon.

Jennings adds that the Yankees plan to use Hafner as a platoon DH, limiting his appearances to match up with right-handed pitchers. While no dollar figure has been confirmed, Hafner's contract is believed to be in the neighborhood of the $1.1 million New York gave Raul Ibanez last winter.

Hafner hit the free agent market following the season when the Cleveland Indians declined his $13 million option for 2013. Rather than retain Hafner, the Indians elected to buy him out for $2.75 million. Cleveland was willing to discuss a return on a lesser deal, as they continue to search for their regular DH.

Related: Hafner to be a Yankee?

It was reported yesterday that the Yankees and Hafner were finalizing a contract. While it was later determined that New York was simply talking to Hafner, as well as other DH candidates, it now appears that they are in fact set to make the signing official.

Hafner hit .228/.346/.438 with six doubles and 12 home runs over 219 at-bats last season for the Indians. Hafner carries with him an impressive track record, as he's hit .278/.381/.507 during his time at the major league level, but he's battled injuries over recent years. Hafner hasn't registered more than 396 at-bats in a single season since 2007.

Still, in a limited role as a left-handed-hitting DH option, Hafner could once again flourish in New York. The 35-year-old has hit .287/.391/.534 against right-handers over his career.