Sanchez's deal is subject to the 14-year veteran passing a physical and the finalization of contract language.
This will be Sanchez's second stint with the Yankees, who
acquired him from the Chicago Cubs on Aug. 16, 1997, for minor
league right-hander Frisco Parotte. Sanchez hit .312 with one homer
and 15 RBI in 38 games for the Yankees that year.
He spent 2004 with Tampa Bay, hitting .246 with two homers and
26 RBI. He had a $1 million base salary with the Devil Rays and
earned an additional $430,000 in performance bonuses based on games
played. His contract with the Yankees does not include any
provisions for bonuses but it will be guaranteed.
The 37-year-old Sanchez was signed by the Mets to replace Rey Ordonez before the 2003 season but hit .207 with 12 RBIs in 174 at-bats and lost the starting job to Jose Reyes.
With the Yankees, he'll back up shortstop Derek Jeter and second baseman Tony Womack, essentially filling Enrique Wilson's job.
Wilson became a free agent and agreed to a minor league contract last week with the Baltimore Orioles. Womack signed a $4 million, two-year contract to take over from Miguel Cairo at second base.
Sanchez has a .271 career average with 15 homers and 387 RBI. He agreed to the deal late Friday.