According to Jerry Crasnick, the Yankees have reached a minor league contract agreement with free agent Mark Prior. Prior was briefly a member of the Rangers organization last season before re-entering the market, and because this is a minor league contract, Prior will receive an invitation to spring training but will not be placed on either the 25- or 40-man rosters.
Prior, of course, was a number one for the Cubs before a series of injuries destroyed his career. The former second overall pick has a career 3.51 ERA, but hasn't pitched in the Majors since August 2006. Since then, he's had surgeries, signed with the Padres, signed with the Rangers, and signed with an independent league team. He hasn't thrown many innings at all, and a workout he held last June in front of Major League scouts was considered unimpressive.
The Yankees won't be counting on Prior to actually provide anything, but his fastball velocity is reportedly up into the low-90s, so you never know. They're taking a chance, and if Prior does make the team, he stands to make $0.75 million, with an additional $0.75 million in incentives.
The Rangers and Red Sox were also interested in signing the 30-year-old righty.