Yanks to sign righty Derek Lowe

Updated: August 12, 2012, 5:34 PM ET
By Wallace Matthews | ESPNNewYork.com

TORONTO -- The New York Yankees are in the process of finalizing a deal to acquire Derek Lowe to serve as a stopgap for their pitching staff while CC Sabathia is on the disabled list with left elbow inflammation.

The deal was confirmed via text message by Scott Boras, Lowe's agent.

The 39-year-old righthander was designated for assignment by the Cleveland Indians on Saturday. His deal with the Yankees will not be finished until Monday, and he is expected to pitch ...

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