Girardi will earn $16 million plus bonuses on the new deal, per Jon Heyman. His roughly $4 million annual salary (minus bonuses) makes him the second-highest paid manager in baseball, behind only the Angels' Mike Scioscia.
The announcement comes just a few hours after a report surfaced that the Yankees were growing frustrated with Girardi's indecision about whether to accept the club's standing offer. One presumes they're no longer feeling frustration, if they ever really were.
Interest from Girardi's hometown Chicago Cubs was frequently cited as the reason the skipper might not return to the Bronx.
However, he wasn't allowed to talk with the Cubs or any other club yet because his standing contract with the Yankees doesn't expire until Nov. 1.
According to David Kaplan of CSN Chicago, Girardi found the opportunity to return to Chicago very tempting, but ultimately decided to stay in New York because his wife and kids are happy in their current living/school situation. Girardi told Sweeny Murti of WFAN that he believes "stability" to be of the utmost importance, but he's also sticking around to be a part of getting the Yankees "back to where I think we should be."
The Bombers reportedly had a three-year deal worth between $4-5 million per year on the table for him as early as last Friday. Had Girardi rejected New York's offer to test the open waters, it's believed Yankees would have looked elsewhere for a manager.
Interestingly, his new seven-figure deal is more money than he made in his first 11 years as a player, according to Andrew Fisher of Purple Row. He earned a total of $21.3 million in his 15 years as a big-league catcher, per B-Ref.
Girardi owns a 564-408 record in his six years at the helm in New York. He has led the club to the playoffs on four occasions, and brought home a World Series title in 2009.