Mark Teixeira signs with Yankees

December 23, 3:30 PMBoston Fantasy Sports ExaminerMark Fuery

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ESPN's Buster Olney is reporting that Mark Teixeira and the Yankees have agreed to a deal.

Sports Illustrated's Jon Heyman is reporting that the deal is for eight years and is worth $180 million and included a full no trade clause.

This signing is the Yankees' third big addition of this offseason and brings their total spendings to $432.5 million if the Teixeira deal is indeed worth $180 million.

The Yankees were a fairly quiet suitor, but in the end they were able to get the job done.

The Red Sox were considered the favorites for most of the free agency period and many Sox fans were wondering when he would be signed, not if. It came as a shock when owner John Henry announced the sox were outbid, but the offer was never withdrawn and there was speculation even as recently as this morning that he was Boston Bound.

It is now clear that the Red Sox were actually outbid, and the claim was not just an attempt to keep the price down. We now know that bid came from the Yankees, who are looking to rebound from a disappointing season and return to the playoffs.

The Yankees have spared no expense in trying to make their return to the postseason. They also made the headlines when they signed pitcher CC Sabathia to a seven-year $161 million deal, the most ever paid to a pitcher. Shortly after they snatched A.J. Burnett for $82.5 million over five years.

Yesterday the Yankees were hit with a $26.9 million luxury tax for going over the $155 million threshold. That tax will only go up next season.

With the addition of Texeira and Sabathia, the Yankees now have the four biggest contracts in baseball. Alex Rodriguez and Derek Jeter are the others.

Yankees Examiner Pete Sabatini doesn't care about the price, he is calling Teixeira a Christmas miracle.