CC Sabathia is staying with the Yankees.
Sabathia had until midnight on Monday to opt-out of his contract, which had four years and $92 million remaining on it.
He did so, but immediately agreed to a new contract with New York.
"Yankee fans, I'll be here fighting for number 28 next year," he wrote on his Twitter account.
Jon Heyman of Sports Illustrated is reporting that the new deal is worth $122 million over five years with a vesting option for a sixth season worth another $25 million.
Via New York Post
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CC Sabathia has agreed to a $122 million extension with the Yankees.
The new deal will add $30 million to his contract.
The extension adds a $25 million salary for 2016 and the Yankees now have a $25 million option for 2017 with a $5 million buyout.
Sabathia agreed to a $161 million contract with the Yankees in December of 2008 and helped the team win a World Series in his first season.
Via AP/New York Times
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The Yankees considered courting Carlos Beltran as a free agent until they learned that his agent Scott Boras was looking for a three-year deal, according to a source.
The development led New York to pick up the 2012 option on the contract of Nick Swisher. The option is worth $10.25 million.
Via Wallace Matthews/ESPN.com
New York Mets, New York Yankees, Free Agent Rumor
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The Yankees picked up the 2012 option on the contract of Nick Swisher, but that doesn't necessarily mean he'll be with the team next season.
Swisher will make $10.25 million under the option.
Andrew Marchand of ESPN.com writes that "the Yankees could look to trade him and then try to find another right fielder."
Swisher was above-average offensively in the regular season -- 23 home runs, 85 RBIs and .374 on-base percentage -- but he struggled in the playoffs yet again.
Via Andrew Marchand/ESPN.com
New York Yankees, Trade Rumor
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Yankees general manager Brian Cashman has a new contract offer, but hasn't signed it yet, according to a baseball source.
Cashman, whose three-year, $6 million contract expires on Monday, has been incommunicado all weekend.
The source said that a final version of the new contract approved by the Yankees has been in Cashman's possession since Saturday.
"All the terms and conditions are done," the source said. "My understanding is (Cashman) was going over it with his lawyer (Saturday night)."
Via Wallace Matthews/ESPN.com
New York Yankees, Misc Rumor
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Yankees Oct 2011 Archive
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Wallace Matthews/ESPN.com | Oct 31, 2011
The Yankees submitted a renegotiated contract offer to CC Sabathia over the weekend, but they have yet to receive a response.
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ESPN.com | Oct 30, 2011
The Yankees have picked up the options of Robinson Cano and Nick Swisher.
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Andrew Marchand/ESPN.com | Oct 29, 2011
CC Sabathia is opting out of the final four years and $92 million left on his contract.
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New York Daily News | Oct 28, 2011
The Yankees are moving closer to a new contract with Brian Cashman.
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New York Daily News | Oct 28, 2011
The Yankees are expected to pick up the option on Nick Swisher's contract for 2012.
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ESPN.com | Oct 28, 2011
Reggie Jackson told the MLB Network the late Billy Martin used racist or anti-Semitic epithets when he managed the Yankees.
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ESPN.com | Oct 27, 2011
Robinson Cano is seeking a new contract from the Yankees, but the odds of something getting done appear remote during this offseason.
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AP | Oct 27, 2011
The Yankees are gathered in Florida to address offseason plans, including Nick Swisher's $10.25M option.
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Jon Heyman/Sports Illustrated (via Twitter) | Oct 26, 2011
The Angels have not called back Yankees executive Damon Oppenheimer for a second interview regarding their vacant general manager position.
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George A. King III/New York Post | Oct 26, 2011
CC Sabathia can opt out of the final four years of a contract, which has $92 million remaining.
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Mike Mazzeo/ESPN.com | Oct 26, 2011
Darryl Strawberry believes the Mets had a superior team in 1986 when they won the World Series.
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Joel Sherman/New York Post | Oct 25, 2011
Russell Martin isn't eligible to become a free agent until 2012.
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Joel Sherman/New York Post | Oct 25, 2011
The Yankees are worried about how C.J. Wilson might handle pitching in New York.
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Andrew Marchand/ESPN.com | Oct 25, 2011
Brian Cashman, whose contract expires at the end of the month, has been going about his offseason preparation.
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New York Times | Oct 24, 2011
The teams last played against each other in the exhibition season on March 30, 1996, in Tampa.
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Wallace Matthews/ESPN.com | Oct 21, 2011
Rafael Soriano struggled with injuries and posted a 4.12 ERA in his first season with the Yankees.
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Wallace Matthews/ESPN.com | Oct 21, 2011
Nick Swisher struggled in the playoffs again, but the Yankees will likely pick up his $10.25 million option for 2012.
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ESPN.com | Oct 20, 2011
Yankees GM Brian Cashman said on Thursday that the club scouted Japanese pitcher Yu Darvish during the 2011 season.
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ESPN.com | Oct 20, 2011
The Yankees declined a $4M option on LHP Damaso Marte on Wednesday.
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MLB.com | Oct 18, 2011
Brian Cashman has been New York's general manager since 1998.
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Joel Sherman/New York Post | Oct 18, 2011
CC Sabathia has had two knee surgeries already in his career and the Yankees are concerned about what his weight will mean going forward.
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Joel Sherman/New York Post | Oct 16, 2011
The Yankees could look to deal Jesus Montero for a starting pitcher and to free up their designated hitter spot.
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Danny Knobler/CBS Sports (via Twitter) | Oct 16, 2011
It has been speculated that the Rangers could make a play for CC Sabathia if he does exercise the opt out clause in his contract and become a free agent this winter.
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Buster Olney/ESPN.com | Oct 15, 2011
CC Sabathia intends to remain with the Yankees, according to agent Brian Peters.
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Joel Sherman/New York Post (via Twitter) | Oct 15, 2011
All parties involved expect the two sides to work out a new contract without much difficulty.
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Associated Press | Oct 15, 2011
Curtis Granderson, Robinson Cano and Miguel Cabrera headline the 19-man roster.
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New York Daily News | Oct 14, 2011
If CC Sabathia leaves as a free agent, the Yankees could look to make a splash by signing Prince Fielder.
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ESPN.com | Oct 13, 2011
The Rangers will have an eye on signing C.C.Sabathia if the Yankee ace chooses to exercise the opt-out clause in his contract.
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ESPN.com | Oct 13, 2011
The Angels have received permission to speak with two Yankees executives about their vacant GM position.
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Kansas City Star | Oct 12, 2011
The Royals added another left-hander to their bullpen on Tuesday by acquiring Aaron Laffey from the Yankees in a waiver claim.
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New York Post | Oct 12, 2011
Mark Teixeira and Alex Rodriguez both hit below .170 in New York's ALDS loss to Detroit.
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Andrew Marchand/ESPN.com | Oct 12, 2011
The Red Sox have an opening for a general manager and Brian Cashman's contract with the Yankees expires at the end of the month.
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Star-Ledger | Oct 12, 2011
Yankees general manager Brian Cashman is expected to stay put.
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New York Post | Oct 11, 2011
Mariano Rivera, who will be 42 next month, has one year left on his contract with the Yankees.
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Andrew Marchand/ESPN.com | Oct 11, 2011
Before winning the World Series in 2009, New York signed starters CC Sabathia and A.J. Burnett.
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New York Post | Oct 11, 2011
The Yankees could try to pre-empt CC Sabathia's opt-out clause by offering him an extension.
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Andrew Marchand/ESPN.com | Oct 10, 2011
CC Sabathia has an opt-out clause in his seven-year, $161 million contract that he can use to make himself a free agent.
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Joel Sherman/New York Post | Oct 10, 2011
Jorge Posada can still hit from the left side and the Yankees aren't expected to offer him a contract to remain in pinstripes.
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Jon Heyman/Sports Illustrated (via Twitter) | Oct 9, 2011
Many believe C.J. Wilson is keen on New York, who will likely be looking for a starting pitcher this offseason.
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ESPN.com | Oct 9, 2011
The Yankees have a $10.25 club million option on Nick Swisher's contract for the 2012 season.
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Buster Olney/ESPN.com | Oct 8, 2011
The talks could yield a new deal in the week ahead.
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John Harper/New York Daily News | Oct 8, 2011
The Yankees will be looking to add a top pitcher to their starting rotation this winter and young prospect Jesus Montero could be involved in trade talks.
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New York Post | Oct 8, 2011
CC Sabathia is expected to opt out of his contract, which has four years remaining, and add another two or three seasons.
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Wallace Matthews/ESPN.com | Oct 7, 2011
Ivan Nova didn't mention his forearm strain after Thursday night's loss to the Tigers.
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Andrew Marchand/ESPN.com | Oct 7, 2011
The Yankees are taking Friday to reflect before they start shuffling things around.
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Joel Sherman/New York Post | Oct 7, 2011
The Yankees have Robinson Cano and Curtis Granderson under contract through the 2013 season.
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Joel Sherman/New York Post | Oct 7, 2011
Alex Rodriguez was just 2-for-18 in five games against Detroit.
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MLB.com | Oct 7, 2011
The Yankees have decisions to make regarding Brian Cashman and CC Sabathia.
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New York Post | Oct 7, 2011
CC Sabathia can opt out of his seven-year, $161 million contract and become a free agent this winter. He has four years left on the deal.
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Andrew Marchand/ESPN.com | Oct 7, 2011
Jorge Posada, in the final year of his contract, had a .579 on-base percentage in the ALDS.
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Associated Press | Oct 7, 2011
The Tigers are the first team since 1926 to eliminate the Yankees in New York in a one-run game.
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ESPN.com | Oct 7, 2011
Don Kelly and Delmon Young hit first inning home runs to lead the Tigers past the Yankees 3-2 on Thursday night.
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Ken Rosenthal/FOX Sports | Oct 5, 2011
Some advanced metrics depict Curtis Granderson as a below-average defensive outfielder.
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MLB.com | Oct 5, 2011
The Rangers are waiting for the Yankees and Tigers to play Game 5 on Thursday night.
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New York Post | Oct 5, 2011
CC Sabathia can opt out of his seven-year, $161 million contract after this season.
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Andrew Marchand/ESPN.com | Oct 5, 2011
Ivan Nova will start Thursday night's Game 5 at Yankee Stadium.
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Associated Press | Oct 5, 2011
Curtis Granderson made a pair of incredible catches to help A.J. Burnett allow just one run over more than five innings.
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MLB.com | Oct 4, 2011
Jose Valverde has been on the mound for Detroit's back-to-back wins against the Yankees.
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New York Post | Oct 4, 2011
Heading into a do-or-die Game 4 for New York, Alex Rodriguez is 0-for-10 in the ALDS.
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Andrew Marchand/ESPN.com | Oct 4, 2011
CC Sabathia threw just 62 strikes in his 102 pitches on Monday night.
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ESPN.com | Oct 4, 2011
The Yankees plan to start A.J. Burnett in Game 4 on Tuesday night.
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David Waldstein/New York Times (via Twitter) | Oct 3, 2011
CC Sabathia has an opt-out clause in his contract that would allow him to test the market this winter.
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Star-Ledger | Oct 3, 2011
Since winning the 2009 World Series, Alex Rodriguez is hitting .175 without a home run.
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ESPN.com | Oct 3, 2011
After winning Game 2 of the ALDS on Sunday, Tigers closer Jose Valverde is guaranteeing a series win over the Yankees.
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Ian Begley/ESPN.com | Oct 2, 2011
A.J. Burnett finished the regular season with a disappointing 5.15 ERA and 11 wins.
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Adam Rubin/ESPN.com | Oct 2, 2011
Justin Verlander and CC Sabathia will face off in Game 3 on Monday.
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Wallace Matthews/ESPN.com | Oct 2, 2011
If CC Sabathia starts Monday's Game 3, A.J. Burnett is expected to take the mound in Game 4.
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Associated Press | Oct 2, 2011
Robinson Cano had six RBI hitting out of the third hole on Saturday night.
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MLB.com | Oct 1, 2011
Ivan Nova pitched two innings of scoreless relief against Detroit in his Major League debut last season.
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Andrew Marchand/ESPN.com | Oct 1, 2011
Andy Pettitte will throw the ceremonial first pitch at Yankee Stadium prior to Game 2 of the ALDS against the Tigers on Sunday.
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New York Post | Oct 1, 2011
The Yankees will need a fourth starter in the first round after Friday night's rain postponement.
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Jerry Crasnick/ESPN.com | Oct 1, 2011
Friday night's rain postponement between the Yankees and Tigers ruined the rotation plans of both New York and Detroit.
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