Yankees Land Sabathia, Let the Flood Begin

Reports out of Vegas are that the Yankees and pitcher CC Sabathia have agreed to a contract worth $160M over 7 years (that's over $23M per year for those counting at home). Sabathia, the AL Cy Young Award Winner in 2007, had a rocky (read: terrible) start last season with the Indians before returning to form as a Milwaukee Brewer in the second half. Combined he went 17-10 with a 2.70ERA and 251Ks last season, with a major league leading 10 complete games.

What's this mean for the rest of the league and the Winter Meetings? Now that the market is set for pitchers, both starters and relievers (see K-Rod's 3-year $37M deal with the Mets), expect a flood of offers and signings to occur with the remaining free agent arms. Top of the list is AJ Burnett, who's being heavily courted by the Braves (and Yankees and Orioles, among others). The Braves offered Burnett a 4+ year deal worth about $16M per year. Given that Sabathia is top of the class, at $23M no one will earn more than him, or anything approaching him. A salary in the ballpark of $16-18M now seems about right for a pitcher like Burnett, given the market. The Yankees had claimed they would best any offer that the Braves made, so don't be suprised (even after signing Sabathia) if the Steinbrenner's throw more than $18M a year at AJ.

Now that agents and GM's know the market, expect a lot of names coming out of the pool in coming days. Keep it here for all the updates.