MLB: Closer Rafael Soriano Agrees to Terms with New York Yankees

Ryan GaydosSenior Analyst IJanuary 13, 2011

ARLINGTON, TX - OCTOBER 10:  Pitcher Rafael Soriano #29 of the Tampa Bay Rays throws against the Texas Rangers during game 4 of the ALDS at Rangers Ballpark in Arlington on October 10, 2010 in Arlington, Texas.  (Photo by Ronald Martinez/Getty Images)
Ronald Martinez/Getty Images's Jon Heyman has reported the New York Yankees have finally landed a top free agent. All-Star closer Rafael Soriano and the Yankees have agreed to terms in a deal reportedly worth $35 million over three years, according to

Soriano will most likely be the setup man for the Yankees' veteran reliever Mariano Rivera.

I reported a few days ago that the Yankees were still interested in Soriano, and yet he was still being pursued by other teams. With the signing, the Yankees will have to give up a first round pick to the Tampa Bay Rays since Soriano is a Type A free agent.

The contract is pretty hefty for a setup man, but this is the only big deal the Yankees have made this offseason. This is also a great opportunity for Soriano's future. If Rivera retires at the end of the season or his numbers start to dwindle, expect Soriano to fulfill the closer role.