On Thursday night, we found out from Jon Heyman that Rafael Soriano had signed a contract with the Yankees. Heyman reported that the contract was expected to be worth $35 million over three years, and via Yahoo!'s Tim Brown, we get confirmation. Soriano will indeed, for the time being, become the Yankees' ninth eight-figure salary player.
The contract does contain some flexibility. Also from Heyman, we see that Soriano will be able to opt out after one year or two. The details of his opt-out clause aren't known, so we can't go any further than this, but it's an interesting note.
Soriano's contract with the Yankees isn't yet official, but is only pending a physical, which should be no problem. Once that's passed, he'll join Mariano Rivera, Joba Chamberlain, David Robertson, and Pedro Feliciano as part of an impressive relief corps that should protect most any lead it's given. And while Soriano probably isn't thrilled with the idea of going back to being a setup man, he does stand to be the heir to Rivera's throne in a couple years should everything go as planned.