The man himself broke the news, tweeting “Yankee fans, I’ll be here fighting for number 28 next year!” Sabathia has signed an extension rather than opting out of his contract. Buster Olney has the contract details, which would reportedly be a 5- year deal worth $122 million, with an option for a 6th year ($25 million, with a $5 million buyout). Overall, this seems like a pretty nice deal for the Yankees, as I was worried that they would cave and give him the 6th year guaranteed.
Update: Per Joel Sherman the option automatically vests unless CC is “disabled by a left shoulder injury”, so it’s basically a 6-year deal unless CC hurts his shoulder. This offers the Yankees a little protection if Sabathia does in fact get injured, though only from one type of injury. I’m sure we’ll learn more about specific language and terms later, but it’s good to get the big man back in pinstripes without having him hit the market.
It’s pretty clear from this signing that CC was in fact being honest when he said that he wanted to stay in New York, otherwise he would have tested the market and possibly earned a longer or more lucrative contract. I have to give the guy some props, he has been an absolute class act about the whole affair, even as the media has been trying to get him to say the wrong thing.
7:48 EDIT by Matt Imbrogno. Here’s Sherman on the details of the option:
Thank you, Great Pumpkin. Thank you. Discuss.