Pavano's deal has option for fifth year at $15M

Updated: December 17, 2004, 3:45 PM ET
ESPN.com news services

The Yankees have finalized a four-year contract with Carl Pavano worth $40 million, ESPN's Peter Gammons reported Friday.

Carl Pavano
Starting Pitcher
Florida Marlins
Profile
2004 SEASON STATISTICS
GM W L Sv K ERA
31 18 8 0 139 3.00

Pavano decided Saturday that he wanted to join the Yankees.

The pitcher's deal also has a team option for a fifth year at $15 million with a $2 million buyout if the option is not picked up. Pavano also can become a free agent after four years if he pitches 200 innings in the third and fourth years of the deal.

A news conference to introduce Pavano as a Yankee is expected on Wednesday.

Anaheim, Baltimore, Boston, Detroit and Seattle also sought the right-hander, 18-8 with a 3.00 ERA for Florida last season.

Information from The Associated Press was used in this report.

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