Update (1:58pm): Nady got $3.3M, plus another $2M in incentives. The base salary is a 50% pay cut.
11:00am: Via MLBTR, free agent outfielder Xavier Nady has agreed to a contract with the Cubs, ending his brief tenure in the Bronx. Nady still has to take a physical, which is no given considering he’s coming back from his second Tommy John surgery. The Yanks didn’t offer him arbitration because he would have probably accepted given his elbow, so they won’t get a draft pick even though he was a Type-B.
Nady hit .270-.319-.469 in close to 300 plate appearances with the Yankees, and was a potential left field option. Let’s see what the dollars are before everyone gets fussy.