ARLINGTON TX - OCTOBER 22: Manager Joe Girardi of the New York Yankees looks on during Game Six of the ALCS against the Texas Rangers during the 2010 MLB Playoffs at Rangers Ballpark in Arlington on October 22 2010 in Arlington Texas. (Photo by Ronald Martinez/Getty Images)

Joe Girardi, Yankees Agree On Three-Year Contract

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Joe Girardi Signs Three-Year Contract With Yankees

Rumor no more - Joe Girardi and the Yankees have reached an agreement.

After several days of speculation that the two sides were close on a three-year contract extension, word has come out Thursday morning that everything's pretty much all done. Writes the New York Daily News:

Joe Girardi is headed back to the Bronx.

The Yankees and Girardi agreed to a three-year contract worth $9 million, the Daily News has learned. The two sides are putting the finishing touches on the deal, which could be announced as early as Thursday.

It's a pay increase from Girardi's previous three-year contract, signed in late 2007, that paid the manager $7.5 million. Which is a sensible outcome, given that he's guided the Yankees to a 287-199 record and a world championship in his time with New York. Even though he didn't have much negotiating leverage, and even though he drew some criticism for his decision-making in the 2010 playoffs, Girardi is clearly a good man for the job.

There's strong speculation that Girardi's new contract has some built-in bonuses that will pay him more should the Yankees advance in the playoffs.

When everything's all set, the Yankees will need Major League Baseball's permission to make an announcement, as the World Series is currently going on. As Friday is a travel day between Game 2 and Game 3, that seems the most probable time for formal confirmation and a press conference.

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