The Yankees have reached a deal with first baseman Mark Reynolds, CBSSports.com's Jon Heyman reports.
The Cleveland Indians had designated the right-handed hitting Reynolds for assignment on Aug. 8 and released him on Aug. 12.
Reynolds hit .215 with 15 home runs, 48 RBIs and 123 strikeouts in 98 games with the Indians this season. The 30-year-old slugger is a career .233 hitter with 196 home runs and 549 RBIs.
The Yankees have not officially confirmed any potential deal.