Jon Heyman of SI.com is reporting that the Yankees have reached agreement with free agent pitcher Rafael Soriano on a three-year contract estimated at $35 million.
Soriano had 45 saves in 48 attempts for the division winning Tampa Bay Rays in 2010. Soriano will set up closer Mariano Rivera.
Last week, Yankees general manager Brian Cashman said he would not give up a No. 1 draft pick for anyone but Cliff Lee and that seemed to rule out landing Soriano.