Both Nick Swisher and Raul Ibanez have agreed to contracts with new teams. Nick Swisher and the Indians came together on a 4 year $56 million deal with a fifth year vesting option. Raul Ibanez received a one year deal with $2.75 million guaranteed and $1.25 million in bonuses.
Neither player earned ridiculous money on the market, and it says a lot about the Yankees that didn’t match either offer. Last month I predicted the average annual salary of players on the free agent market, and Nick Swisher was set to earn $16.3 million based on his fWAR. The Yankees project to have about $30 million left in their budget if they re-sign Cano, so a Swisher contract would have cut that in half.