Feb 22, 2014, 9:53 PM EST
Update: ESPN’s Buster Olney reports that it is a minor league deal “stacked with incentives”. He adds that the Major League side of the deal is worth $2.5 million and includes an option and a buyout for the 2015 season.
Bailey, 29, spent the last two seasons with the Red Sox. In 2012, he missed the first 116 games of the season after undergoing surgery on his right thumb to repair the ulnar collateral ligament. He returned in August but struggled, posting a 7.04 ERA in 15 1/3 innings through the end of the season. In 2013, he started off strong but went on the disabled list in late April with a strained right biceps. In mid-July, he went on the shelf again, then underwent surgery on the 24th to repair the labrum and capsule in his right shoulder. He won’t be ready for the start of the 2014 regular season, but he is expected to return by mid-season.
Bailey does have a worrying injury history, but when he has been healthy, he has been effective. He won the AL Rookie of the Year award in 2009 with the Athletics, saving 26 games and posting a 1.84 ERA. The Yankees are hoping the right-hander can recapture some of that magic.
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