Yankees acquire Alfonso Soriano from Cubs

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The Yankees completed a trade for the Cubs' Alfonso Soriano Friday morning. (Justin Edmonds/Getty Images)

The Yankees acquired Alfonso Soriano from the Cubs Friday morning. (Justin Edmonds/Getty Images)

The Chicago Cubs traded outfielder Alfonso Soriano to the Yankees in exchange for minor-league pitching prospect Corey Black, according to a tweet from Joel Sherman of the New York Post.

ESPN's Jim Bowden first reported via Twitter that Major League Baseball approved the trade of Soriano to the Yankees on Friday morning. Soriano waived his no-trade rights and the trade is official.

Buster Olney reports that the Cubs will pay roughly $17.7 million of the approximately $24.5 million left on Soriano‘s contract.

Soriano returns to the Yankees, with whom he made his major league debut as a second baseman in 1999. He was traded to the Rangers as part of the Alex Rodriguez deal in 2003. After a year of playing outfield for the Nationals, he signed with the Cubs in 2007 and has primarily played left field.

CORCORAN: Soriano trade a no-brainer for Yanks

The Yankees hope his bat (.254, 17 home runs, 51 RBI on the season) can add some punch to a slumping offense riddled with injuries.