AP Source: Yanks, Sabathia Reach Agreement - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Associated Press - December 10, 2008 4:43 PM ET

LAS VEGAS (AP) - CC Sabathia and the New York Yankees have agreed on the framework for a $161 million, 7-year deal.

It is the richest contract for a pitcher in baseball history.

The Yankees and Sabathia's agents still need to work out all of the contract details, a baseball official familiar with the talks told The Associated Press on Wednesday. The person spoke on condition of anonymity because the deal has not yet been finalized.

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