Jan 20, 2009 6:11 PM EST

The New York Yankees announced today they have agreed to one-year contracts with outfielders Melky Cabrera and Xavier Nady, avoiding arbitration.

RealGM Note: Nady has agreed to a $6.65M contract, while Cabrera will reportedly be paid $1.4M.

Nady was ranked 148th in season FIC and 'deserved' $6.35M, giving him a Reina Value of +90% for 2008.

Cabrera was 497th and 'deserved' $410k for 2008.

Via Press Release