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Joe Girardi is staying with the Yankees

Oct 9, 2013, 3:10 PM EDT

Joe Girardi AP

Well, this is going to make the Cubs sad.

Joe Girardi will return as Yankees manager, signing a four-year contract extension rather than hitting the open market as a free agent in a few weeks.

Jon Heyman of CBSSports.com reports that Girardi will get $16 million over four years, so the Cubs’ oft-reported interest helped boost the price tag from his current $3 million salary. Now he’s in New York through 2017, choosing to stay with a Yankees team in a state of flux rather than trying to embark on a full-scale rebuild with the Cubs or perhaps join a ready-made contender with the Nationals.

Girardi has a 564-408 (.580) record in six seasons with the Yankees, including 85-77 with an injury wrecked roster this season. He’s won three AL East titles and one World Series during that time, and general manager Brian Cashman has always made it very clear that he wanted Girardi back.

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