Yankees reach deal with Rivera, make progress with Jeter

The Yankees and superstar closer Mariano Rivera are in agreement on a two-year contract for close to $30 million, according to sources, though the language still has to be worked out and Rivera must pass a physical.

There has also been significant progress in the negotiations with Derek Jeter as both sides are moving closer to an agreement. The Yankees raised their original three-year, $45 million offer, and Jeter lowered his original request, which was thought to be about $23 million over five years.

The parties are very optimistic a deal will be done very soon. Jeter, an 11-time All-Star and key member of five World Series championships for the Yankees since 1996, is coming off a 10-year, $189 million contract.

Rivera is believed to have received offers from the Red Sox and Angels. The Red Sox's reported try was interesting because they already have Jonathan Papelbon and Daniel Bard in the bullpen.

Rivera, 41, had yet another outstanding season for the Yankees in 2010. He posted a 1.80 ERA, the seventh time in the last eight years he's had an ERA under 2.00. He also had 33 saves, the 13th time in his 14 years as closer that he notched at least 30 saves, and a 0.833 WHIP that was the second-best of his 16-year career.