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Phil Hughes, Yanks agree on $7.15M

Updated: January 17, 2013, 9:40 AM ET
Associated Press

NEW YORK -- Right-hander Phil Hughes and the New York Yankees have agreed to a $7.15 million, one-year contract, a raise of $3.75 million.

Wednesday's deal, which is not guaranteed, avoided salary arbitration. Players and teams without agreements are set to swap proposed arbitration salaries on Friday.

Hughes, who is eligible for free agency after next season, was 18-8 in 2010, slumped to 5-5 the following season as injuries slowed him, then rebounded to a 16-13 record last ...

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