It's not Cliff Lee, but the Yankees have added a big-name pitcher. They signed Mark Prior to a minor league deal, the team announced today. ESPN.com's Jerry Crasnick first reported the deal (on Twitter). Prior will earn $750K in the major leagues and could earn $750K more in incentives, according to Jon Heyman of SI.com (on Twitter).
The Rangers and Yankees were the finalists for Prior, who pitched in Texas' system last year, but has not appeared in a major league game since 2006. He'll be reunited with former Cubs pitching coach Larry Rothschild in New York.
The Yankees selected Prior 43rd overall in the 1998 draft, but were unable to sign him. The Cubs drafted him second overall in 2001 and he soon became one of the National League's best pitchers. He posted a 2.43 ERA with 10.4 K/9 and 2.1 BB/9 as a 22-year-old just a year and a half after being drafted.
A series of shoulder problems derailed Prior's career, but he has tried to resurrect it with stints in the Padres' and Rangers' systems.