Weeks after unofficial reports of Gary Sheffield agreeing to a contract with the Yankees, New York announced yesterday that they'd signed Sheffield to a three-year, $39M contract that includes a $13M option for 2007. The yearly breakdown of the deal has not been revealed, but $13.5M will be deferred until an unannounced date. Sheffield served as his own agent on this deal, and evidently didn't have a desire to play anywhere but with the Yankees.

The 35-year-old ranked among the top players in baseball last year. While he's advancing in years, he reportedly remains in excellent physical shape. Sheffield's accustomed to receiving days off for minor problems, but he doesn't possess any pre-existing health problems that would cause me to question the length of the deal. He's displayed exemplary plate discipline for years and barring a major injury I see no reason for his production to substantially dwindle over the course of the contract.

Sheffield's unbridled interest in signing with New York weakened his negotiating position, and opened the door for the Yankees to save a few million. Without an agent watching his back and in his haste to consummate a deal with his team of choice, Sheffield apparently conceded to salary deferrals that he soon regretted. While he then attempted to make the club sweeten the contract, New York wasn't about to forego their savings when they obviously had the upper hand. Consequently, while Sheffield definitely could have found another team willing to offer him a larger deal, the Yankees didn't have to concern themselves with topping the competition and were able to procure him at a discount. Atlanta was too blind to offer Sheffield arbitration, so he won't even cost New York a draft pick.