NEW YORK -- Joe Torre's new $16 million, three-year contract to manage the New York Yankees has been finalized and awaits his signature, a baseball lawyer familiar with the talks said Friday.

Talks have proceeded on and off for most of the year, and neither side anticipated any obstacles. The sides completed negotiations on language issues Friday, the lawyer said on the condition he not be identified.

At a luncheon appearance Wednesday, Torre said he anticipated signing the contract next week.

In six seasons as manager, Torre has led the Yankees to six playoff appearances, five American League pennants and four World Series titles, a run that probably will ensure election to the Hall of Fame.

Torre's contract expired during Game 4 of the recent World Series, which the Yankees lost in seven games to Arizona.

This winter, he faces the largest turnover in his roster since he joined the Yankees. Right fielder Paul O'Neill, third baseman Scott Brosius and backup infielder Luis Sojo retired.

The Yankees are intent on signing free-agent first baseman Jason Giambi to replace Tino Martinez, who led the team in home runs and RBIs last season.

After the 2000 season, Torre was instrumental in recruiting pitcher Mike Mussina to join the Yankees, and he has been recruiting Giambi.

Players see Torre as the one person who has brought stability to a franchise that spent years in turmoil under volatile owner George Steinbrenner. Torre has managed to insulate players from the Boss.

"You better go ahead and sign that contract or else there will be a lot of more of us retiring," Yankees pitcher Roger Clemens said when Torre presented him with an award earlier this week.