Brian Cashman signs 4-year contract to remain Yankees GM

Lucas Peltier-USA TODAY Sports
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SAN DIEGO — Brian Cashman has signed a four-year contract to remain the New York Yankees Senior Vice President and General Manager. The announcement was made during the first day of baseball’s Winter Meetings.

Cashman, New York’s GM since 1998, had been working on a handshake agreement since early November, when his five-year contract expired.

The Yankees were swept by four games in the AL Championship Series and haven’t reached the World Series since winning in 2009. It is the franchise’s longest title drought since an 18-year gap between 1978-96.

Cashman’s main goal during the offseason is trying to re-sign AL MVP Aaron Judge.

Judge hit an American League-record 62 homers this season with a .311 batting average and 131 RBIs. He turned down the Yankees’ offer on the eve of opening day of a seven-year contract that would have paid $213.5 million from 2023-29.

While Judge remains on the market, Cashman was able to re-sign Anthony Rizzo on Nov. 15 to a two-year contract worth $40 million after turning down a $16 million player option.

Cashman has been the Yankees general manager since 1998. He has been with the organization since 1986, when he was a 19-year old intern in the scouting department. In his 25 seasons as GM, the Yankees have reached the postseason 21 times, including four World Series championships and six American League titles.

RHP Fairbanks, Rays agree to 3-year, $12 million contract

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Dave Nelson/USA TODAY Sports
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ST. PETERSBURG, Fla. — Reliever Pete Fairbanks and the Tampa Bay Rays avoided arbitration when they agreed Friday to a three-year, $12 million contract that could be worth up to $24.6 million over four seasons.

The deal includes salaries of $3,666,666 this year and $3,666,667 in each of the next two seasons. The Rays have a $7 million option for 2026 with a $1 million buyout.

His 2024 and 2025 salaries could increase by $300,000 each based on games finished in the previous season: $150,000 each for 35 and 40.

Tampa Bay’s option price could increase by up to $6 million, including $4 million for appearances: $1 million each for 60 and 70 in 2025; $500,000 for 125 from 2023-25 and $1 million each for 135, 150 and 165 from 2023-25. The option price could increase by $2 million for games finished in 2025: $500,000 each for 25, 30, 35 and 40.

Fairbanks also has a $500,000 award bonus for winning the Hoffman/Rivera reliever of the year award and $200,000 for finishing second or third.

The 29-year-old right-hander is 11-10 with a 2.98 ERA and 15 saves in 111 appearances, with all but two of the outings coming out of the bullpen since being acquired by the Rays from the Texas Rangers in July 2019.

Fairbanks was 0-0 with a 1.13 ERA in 24 appearances last year after beginning the season on the 60-day injured list with a right lat strain.

Fairbanks made his 2022 debut on July 17 and tied for the team lead with eight saves despite being sidelined more than three months. In addition, he is 0-0 with a 3.60 ERA in 12 career postseason appearances, all with Tampa Bay.

He had asked for a raise from $714,400 to $1.9 million when proposed arbitration salaries were exchanged Jan. 13, and the Rays had offered for $1.5 million.

Fairbanks’ agreement was announced two days after left-hander Jeffrey Springs agreed to a $31 million, four-year contract with Tampa Bay that could be worth $65.75 million over five seasons.

Tampa Bay remains scheduled for hearings with right-handers Jason Adam and Ryan Thompson, left-hander Colin Poche, third baseman Yandy Diaz and outfielder Harold Ramirez.