ESPN: Yanks, Sabathia ‘very close’ on deal

Update 10:40 a.m. by Joe: Baseball’s resident economist, JC Bradbury, likes the deal. He values Sabathia at $26 million per year over the next seven.

Update 9:17 a.m. by Joe: ESPN reports that the deal is for 7 years and $160 million. That takes the AAV down a bit. It’s a helluva long commitment, but the Yanks knew that they’d have to go above and beyond for CC.

I also want to note that this is complete bullshit. Mike and I are in Vegas. Couldn’t they at least break this on Vegas time? It’s six in the goddamn morning! And this thing broke what, an hour ago?

Update 8:32 a.m.: Early reports this morning featured a New York Post story saying the deal is all but done between Sabathia and the Yanks. ESPN.com has now seemingly confirmed this independently. According to the Worldwide Leader:

The New York Yankees were “very close” to a preliminary agreement with CC Sabathia on Wednesday morning, following an in-person meeting between Yankees GM Brian Cashman and Sabathia in California, a baseball source with knowledge of the deal told ESPN.com.

While a deal is not done, the source said there are “zero major road blocks” that would prevent the Yankees from reaching agreement with the Yankees.

“He’s now excited about becoming a Yankee,” said one source.

I’m off to somehow take a final despite this excitement. Don’t burn down the place while Joe and Mike sleep in Vegas. We’ll have more as soon as we know more.

Update 8:39 a.m.: Jon Heyman has word of the signing as well.