Yankees to pay US$6.8 million for Alfonso Soriano

July 27
7:50 AM 2013

The trade for outfielder Alfonso Soriano of Chicago Cubs to the New York Yankees was finalized Friday. This was after Soriano waived his no-trade clause.

Of Soriano's eight-year contract with the Cubs, he was still owed US$24,491,803. The Chicago Cubs will pay US$17,688,524. The remaining US$6,803,279 will be shelled out by the Yankees, according to ESPN sources. This was a prorated rate equivalent to US$5 million for Soriano's salary this year worth US$18 million. The payment of around US$6.8 million will also include Soriano's US$18 million salary for 2014, which will also be given at a prorated rate of US$5 million. Next year was the final season of the deal.

"I think he's a great addition. One of my favourite teammates of all-time," said Mark Teixeira. Teixeira has played with Soriano before in Texas. "I love the move. We need a right-handed bat, obviously. We need that thump. We need to score a few more runs, and he's one of those guys that can beat you with one swing," he added.

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