Via Dan Barbarisi, the Yankees and Russell Martin discussed a three-year contract this offseason before avoiding arbitration with a one-year, $7.5M pact. Talks about a multi-year deal never got passed the preliminary stages though. There is definitely some merit to signing Martin for the next few years (especially after the Jesus Montero trade), though anything longer than three years would really be pushing it just because of catcher aging and his past workload. Something like three years and $25-30M would have been reasonable.
River Ave. Blues » Yanks, Martin talked about a three-year deal this offseason