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Free-agent outfielder Jacoby Ellsbury has reached agreement on a seven-year contract with the New York Yankees pending a physical exam, a baseball source told ESPN.com.
According to multiple reports, the deal will pay Ellsbury $153 million over seven years and includes an option for an eighth year that could increase the overall value of the contract to $169 million. Ellsbury's deal exceeds Carl Crawford's seven-year, $142 million contract with the Boston Red Sox in December 2010.
Ellsbury was on his way from his home in Arizona to New York on Tuesday night to take the physical, the source said.
CBSSports.com first reported that a seven-year deal with Ellsbury appears to be close. ESPN.com's Buster Olney reported the Yankees have an aggressive offer to Ellsbury.
With the projected addition of Ellsbury in center field, the Yankees would likely shift Brett Gardner to left field.
In recent days, the Yankees have become increasingly pessimistic that they will be able to retain second baseman Robinson Cano. Sources familiar with the negotiations between the Yankees and Cano told ESPNNewYork.com that the Yankees believe the Seattle Mariners might be willing to offer Cano $200 million over eight years. The Yankees have privately vowed not go past $175 million for Cano.
It's not immediately clear whether the Yankees' pending investment in Ellsbury precludes them from trying to bring back Cano -- or even make a run at free-agent outfielder Shin-Soo Choo, who, like Ellsbury, is represented by agent Scott Boras.
Choo posted a .423 on-base percentage with the Cincinnati Reds in 2013, and has reportedly attracted interest from the Yankees and several other clubs in the market for an outfield bat. But the Yankees have now spent almost $240 million in guaranteed money on longterm deals for Ellsbury and catcher Brian McCann.
The Yankees still need to make upgrades to the starting rotation, and will have to pay a steep price if they plan to pursue star Japanese free agent Masahiro Tanaka. So their allotment of cash has clearly diminished since the start of the offseason, when Cano was reportedly seeking a deal in excess of $300 million.
The Yankees have also held talks with Dan Lozano, the agent for Carlos Beltran. The Yankees like the idea of signing Beltran on a two-year deal, but with the Kansas City Royals reportedly willing to give Beltran $48 million over three years, a source with knowledge of the Yankees' thinking said the team had no plans to add a third year for the 36-year-old outfielder.
Ellsbury, 30, would move from the defending champion Red Sox to the Yankees, joining a long list of players who have transitioned in the rivalry. In 2013, he hit .298 with a .781 OPS and led the American League with 52 stolen bases.
"Jacoby was a great player while he was with us," Red Sox chairman Tom Werner told ESPNBoston.com. "He helped us win two world championships, and he was a pleasure to watch offensively and defensi