The deal will be complete pending Ellsbury passing a physical, according to the report. The deal includes an eighth-year option and takes the deal’s total value to $169 million if it is exercised.
Ellsbury, 30, spent the past seven seasons with the Red Sox. He hit. 298 with nine home runs and 52 RBI in 134 games last season. He led the majors in stolen bases with 52 and also scored 92 runs.
He hit .344 in the postseason, helping the Red Sox win their third World Series title in the past 10 seasons.
The Yankees have already snagged catcher Brian McCann in free agency and reportedly are nowhere near being done in the free-agent market.
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The Yankees have been in simultaneous talks with Shin-Soo Choo, Carlos Beltran, and many other top free agents, including their own Robinson Cano. Things haven't been progressing with Cano, as the Yankees don't want to go much beyond $170 million over seven years, with Cano looking for $260 million at the moment.