Yanks Sign Teixeira

UPDATE 7:30 p.m.: Joel Sherman says the Yankees made this move with 2010 in mind because "Johnny Damon, Hideki Matsui and Xavier Nady are all entering their walk year. So the Yanks were looking at replacing as many as many as three lineup slots." And that "the Yanks will now try to trade at least one player from the group of Damon, Matsui, Nady and Nick Swisher to unclog a logjam in the corner outfield/DH/first base areas, while also trying to reduce some payroll."

While I see how making a move like that makes sense I don't think it's necessary. The Yanks can go with a lineup of

Damon LF
Jeter SS
Tex 1B
A-Rod 3B
Matsui DH
Posada C
Nady RF
Cano 2B
Gardner/Melky CF

(wow what a lineup)

And they can have Swisher, a switch-hitter, split time with Nady and Matsui - Nady would sit vs. some righties and Matsui can sit against lefties. It will also give the Yankees the ability to use Damon as a DH at times. There is nothing wrong with having good bats coming off the bench.

UPDATE 7:22 p.m.: Bill Madden says that "Teixeira had favored the Yankees all along and according to sources he conveyed that to them this week."

ESPN is reporting that the Yanks have signed Mark Teixeira to a eight-year $180 million deal.

Here's some more from Buster Olney:

The agreement, which is subject to a physical, includes a signing bonus of about $5 million, no opt-out clause and a complete no-trade provision, the sources told Olney.

The contract will pay Teixeira, who made it clear he wanted to make a decision on where to play next season and beyond by Christmas, an average of $22.5 million per season. Boston's offer to Teixeira was for $168 million over eight years, an average of $21 million a year, the sources told Olney.

Not only does this move help the Yankees both offensively and defensively but it hurts the Red Sox, who had been the front runner up until about 3:15 p.m. today, too. I think this was a great move by the Yanks, even if they had to overpay a bit.

Nice Christmas gift, huh?