Using the money they would have spent to acquire ace Cliff Lee, the New York Yankees reportedly agreed to a contract with catcher Russell Martin, MLB.com reported Tuesday.
Terms were not available for the deal, which is pending a physical exam.
The Los Angeles Dodgers refused this month to meet Martin's demand for a guaranteed $5 million contract.
Martin, 27, played 97 games in 2010, then missed the rest of the season with a broken right hip. In 2007 and 2008, he ranked among the best catchers in the National League. A back-to-back all-star, he had a .286 batting average, .380 on-base percentage, and 32 home runs in those two seasons. But in '09, his batting average slipped to .250.
The Yankees are expected to have veteran Jorge Posada as a full-time designated hitter, while Austin Romine, Francisco Cervelli, and prospect Jesus Montero are expected to compete for playing time at catcher in spring training, according to MLB.com.
The Yankees also finalized their $30 million, two-year contract with Mariano Rivera. The 41-year-old closer receives $15 million in each of the next two seasons, with $1.5 million each year deferred with no interest.
Bucs sign Overbay, Diaz. The Pittsburgh Pirates signed first baseman Lyle Overbay and outfielder Matt Diaz.
Overbay, 33, who hit 20 home runs last season for Toronto, signed a one-year deal worth about $5 million, while Diaz, 32, who hit .250 for Atlanta last season, signed a $4.25 million, two-year contract with a signing bonus of $250,000.
The additions likely will allow the Pirates to trade Ryan Doumit, who is primarily a catcher but also has played in the outfield. He is due $5.1 million in 2011.
Reds, Bruce have deal. Cincinnati general manager Walt Jocketty officially announced that the Reds and outfielder Jay Bruce had reached agreement on a six-year contract through the 2016 season, with a club option for 2017. The deal reportedly is worth $51 million.
The 23-year-old Bruce established himself as one of the NL's premier rightfielders while helping the Reds win the NL Central title. He hit .281 with 25 home runs.
Matsui officially an Athletic. Oakland and free-agent slugger Hideki Matsui finalized a one-year contract after he passed a physical. The sides had agreed to terms during the weekend.
The 36-year-old Matsui batted .274 with 21 home runs and 84 RBIs last season with the Los Angeles Angels, the Athletics' AL West rival. He spent his first seven major-league seasons with the New York Yankees and was MVP of the 2009 World Series.
Figaro heads to Japan. The Detroit Tigers sold the contract of pitcher Alfredo Figaro, 26, to the Orix Buffaloes of the Japanese Baseball League.
Stairs invited to Nats' camp. Pinch-hitter Matt Stairs, who will turn 43 in February, agreed to a non-guaranteed, minor-league contract with Washington.
Stairs holds the career record with 23 pinch-hit homers, 15 more than any other active player. He has played for 12 big-league teams and homered for 11, both tied for the career record.
In 18 major-league seasons, he has a .264 batting average, 265 homers and 897 RBIs.
Cards, catcher reach deal. Free-agent catcher Gerald Laird and the St. Louis Cardinals have an agreement on a $1 million, one-year contract.
The 31-year-old Laird hit .207 with five home runs and 25 RBIs last season in a part-time role with Detroit. He's expected to be a backup to Yadier Molina.
Navarro returns to L.A. Free-agent catcher Dioner Navarro agreed to a $1 million, one-year contract with the Dodgers, bringing him back for a second stint in Los Angeles.