Yanks sign Chan Ho Park

In December, I noted that Chan Ho Park had an interest in playing for the Yankees and it appears as though the South Korean-born right-hander has gotten his wish. The Yankees have signed the 36-year old veteran to a one-year deal worth $1.2 million (pending a physical), though Park can earn an additional $300k in performance incentives. According to Joel Sherman, GM Brian Cashman lobbied to expand the team’s payroll by a marginal amount in order to make room for Park, who many in the club’s front office felt was one of the best free agent relievers on the market. With the addition of Park, I expect one of Chad Gaudin or Sergio Mitre to be traded down the road. Mitre, owed $850k this season, seems like the likelier candidate to be moved, although Gaudin is more expensive at $2.95 million.

What do you think about the Park deal? It’s a low-risk signing, so I really have no problem with it.

UPDATE (3:33 pm) - Here’s more on the signing from the man himself:

“I was deliberating on the Chicago Cubs and the Yankees, but their history and championship contention resulted in me picking the Yankees,” Park said. “Until last night, I was leaning toward the Cubs.”

Park, who said he agreed to a one-year, $1.2 million deal, said the Cubs offered him a chance to compete for a berth in the starting rotation. With the Yankees, he will come out of the bullpen, as he did last season with the Phillies.

“I wanted to play for a champion-caliber team this year again,” Park said. “I am not certain how much longer I will play baseball, but it will be huge experience and memory to play with the Yankees.”

He wanted to be here and took a “lesser” role and fewer dollars in order to make that happen.

Photo by Nick Laham/Getty Images