The deal is worth $10 million which also includes an award and incentive program in the structure of the contract. Mo, who turned 43 on Thursday, will be suiting up for his 18th season in Pinstripes for the 2013 season.
New York was hoping to get some of their pitching signings in order before the Winter Meetings this coming week in Nashville, Tennessee. They were successful signing Hiroki Kuroda, Andy Pettitte and now Rivera.
General manager Brian Cashman confirmed the agreement on FOX News this morning and added that in New York things leak out faster than you want them to and the Rivera deal, once all the details are ironed out, would be officially announced by the Yankees possibly as early as today.
Mo had hinted at retirement last month, but said he couldn't end his career on an injury. "The fact that I didn't want to go out like that," Rivera told MLB.com. "I felt like, I have something left, and I should give it a shot. Why not?"
Rivera is coming off an ACL injury on his right knee sustained in Kansas City last year shagging balls in the outfield in pregame warm-ups. Rivera had surgery and has been doing well in his rehab and is expected to be ready for 2013 Spring Training.
"I have a long time to go. I'm not rushing," Rivera said. "I just have to make sure that my knee gets stronger. It does. It's getting stronger and stronger every day. I'm happy with that. I just have to continue what I'm doing.
Yankees' fans and the organization are happy that he will be back in the fold for another season.
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