Mark Teixeira Sweepstakes Winners are the New York Yankees

It's official. All Mark Teixeira rumors can be laid to rest. Major Leage Baseball slugger Mark Teixeira signed with the New York Yankess for a reported $180 million USD over eight years, as reported by various media. The signing also includes a $5 million signing bonus that doesn't allow either side to op-out as well as a no-trade deal. Teixeira will make an average of $22.5 million per season for the Yankess. The Boston Red Sox offer was reported to be approximately $21 million a year.

New York Yankees Spending Spree

The Yankees have been on a spending spree in the last month. WIth freeing just under a $100 million in salary with Giambi, Abreau, Mussina, and Pavano, they have signed contracts in excess of $400 million in the last month. $23 million per year for 7 years to pitcher CC Sabathia and $18.5 million per year over 5 years to pitcher A.J. Burnett. WIth the Teixeira signing, the Yankees will have the four highest paid players in MLB. First is Teixeira, second is A-Rod ($27.5 million a year), shortstop Derek Jeter ($18.9 million a year), and Sabatha. The Yankees did sign Teixeira shortly after receiving their almost $27 million luxury tax for 2008 after missing the playoffs for the first time in 14 years. The Yankees and their fans are hoping that with the signing of Teixeira the Yankees offense will be rekindled so the Bronx Bombers can make another run at post season play!

BoSox and Others Lose Out

Another factor in the Yankees signing also appears to be the desire to prevent the rival Red Sox from signing Teixeira. A number of teams were in discussion with his agent, Scott Boras to include the Washington Nationals, Baltimore Orioles, and the Los Angeles Angels. The Baltimore Orioles were effectively priced out of the competition for the slugger's services based on overall team needs despite significant interest in his signing. Late last week the Angels withdrew from negotiations due to the cost as well. It is expected, however, with the Teixeira signing that the Yankees will no longer be interested in Manny Ramirez which will provide the losers in this battle another marquee player to pursue!

More information: http://www.washingtonpost.com/wp-dyn/content/story/2008/12/23/ST2008122302819.html