Millwood Opts Out

As per Buster Olney:

Kevin Millwood has opted out of his contract with NYY, after they didn't add him to big league roster

It's difficult for me to say anything other than good riddance, as Millwood's attitude has left a great deal to be desired. That, coupled with his well below-average 2010, 5+ FIP in three minor league starts thus far, and low-80s fastball would have likely left the 36-year-old righty with Scranton for the foreseeable future. Further, the Yankees appear to be basing promotions on merit, and Noesi, Phelps, and Warren have been solid thus far - they also have far more value to the team than Millwood, both for the Yankees and for potential trade partners.

Yanks Sign Millwood

(Update) According to Buster Olney, "The Yankees' deal with Kevin Millwood is for $1.5 m/ base -- but that's prorated and won't start until May 1 at earliest; could opt out then." He also won't start getting that money until he makes the big league roster.

Aaron Gleeman is reporting that Millwood "can earn an additional $3.5 million in incentives, with $500,000 each for 5, 10, 15, 20, and 25 starts and $1 million for 30 starts."

Brian Cashman continued his valiant attempt to sign every available washed up pitcher in baseball today by signing Kevin Millwood. Here's more from Jon Heyman:

At least it's a minor league deal. Besides that, I have nothing good to say about this signing.