The deal would begin in 2015, and contain an option for a fifth-year at $12.5 million. It does not include a no-trade clause.
Gardner, 30, led the American League with 10 triples last season, a year where he hit .273 with eight home runs and 52 RBIs. Gardner also stole 24 bases.
After team workouts on Sunday, Gardner indicated that the deal has been in the works for several weeks, as Yankees GM Brian Cashman first approached his agent at the Winter Meetings. Gardner indicated that his hope is to be a Yankee for the remainder of his career.
When the Yankees signed Jacoby Ellsbury earlier this winter, Gardner was a popular subject in many trade rumors. However, the Yankees repeatedly refuted rumors, indicating that he was one of their most valued players.
Brian Cashman echoed that sentiment when he indicated he loves Gardner for the dynamic speed and defense that he delivers. Cashman also indicated he felt Gardner was one of the team’s best players last year.
Gardner called the signing “probably the biggest decision I had to make in my life,” as he will now likely spend the rest of his career playing a corner outfield spot, as opposed to his natural center field position.