According to multiple sources, Cliff Lee is returning to the Phillies. Lee rejected a seven-year, $150 million deal from the Yankees to sign with the Phillies for five years, $100 million (approximately).

This gives the Phillies one of the best rotations I’ve ever seen on paper.

1. Roy Halladay
2. Cliff Lee
3. Roy Oswalt
4. Cole Hamels
5. Joe Blanton

Three 20-game winners in the same rotation with all three still in their primes? When’s the last time that happened?

What I’m most surprised about is Lee taking less money to play for the Phillies. Some have reasoned it’s more expensive to live in New York so the offers would actually be very close in terms of value.

The Yankees are now hoping Andy Pettitte returns more than ever. If he doesn’t, and the Yankees don’t add either Rich Harden, Brandon Webb or a top starter via trade, Phil Hughes becomes the Yankees’ No. 2 starter. In the beginning of the offseason, most projected he would be the No. 4.

Let the rotation projections begin…

1. CC Sabathia
2. Phil Hughes
3. A.J. Burnett
4. Freddy Garcia
5. Ivan Nova

What’s your idea?

Via Fox’s Ken Rosenthal:

The Phillies are still bidding for free-agent left-hander Cliff Lee, according to a source with direct knowledge of the negotiations.

However, Rosenthal goes on to say the Phillies’ assistant GM said earlier this month “that ship has sailed” in regards to the hunt for Lee. And here is what their GM had to say on the matter:

“If I were in or out, I wouldn’t be commenting at all, on or off the record,” Phillies GM Ruben Amaro said, citing his personal policy on free agents.

Hmm.

This report makes sense, though, as Lee had seemingly been mulling over just two teams’ offers this past weekend. The Rangers offered six years and the Yankees offered an array of deals that maxed out at seven years, $161 million.

It’s all about the money, stupid.

Either way, the Phillies joining the hunt is not good news for the Yankees. Their involvement likely drives up Lee’s price, as Jon Heyman cites Lee “LOVED” Philly.

But it’s good news for me since I don’t think the Yankees should sign Lee.

In my latest poll results, Yankees fans voted Cliff Lee as the most important free agent left to the Yankees’ success next year. Remember, this did not include Mariano Rivera.

Interestingly, Derek Jeter and Andy Pettitte received the same number of votes. Jeter is back on board with the Yankees on a three year, $51 contract with a player option. Check out the full details here if you missed them.

Pettitte hasn’t decided if he’s coming back to baseball or not.

New poll: What’s your reaction to Jeter’s contract?

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P.S.: Thanks for sticking with lenNY’s Yankees through my toughest final exams period. I’ve never had to work so hard in one week before, and I’m glad it’s over now. As expected, the moment I shut down my blog Jeter’s contract got finalized and then Rivera and his son visited my school. Lee signing was the only thing missing. Some say today is the day for that. I’ll keep you posted, like usual.

Mariano Rivera and his son Mariano Rivera III toured Quinnipiac University today. Mo told me his son is looking to pitch.

UPDATE: Full interview with Quinnipiac head coach Dan Gooley on Mariano Jr.

I’ve been blogging for almost two years now. Some of you may not know it, but I’m also a college student.

It’s that time of year, folks. Finals week.

I’ve been able to balance blogging and finals weeks in the past, but this semester is different. I am overloaded and will not have any time to even think about the Yankees this week. I may send out a tweet here and there during quick breaks, but I really am swamped like never before and will not be posting to my blog this week.

I am truly sorry to my followers, but I hope you all understand where I am coming from.

Thanks for understanding, I hope.

-Lenny

We don’t know exactly how much it’s worth, but we know the deal is done.

UPDATE: Now we do.

Derek Jeter has agreed to return to the Yankees for three years with a fourth-year vesting option.

Jeter’s new contract is worth between $45-51 million, or $15-17 million per season.

The negotiations lasted a month. I’d say the Yankees came out winners here, as they didn’t give into Jeter’s demand of a four-year deal and didn’t pay him more than $20 million per season.

On the other hand, couldn’t the Yankees have just told Jeter to take a three-year, $30 million deal or find somewhere else to play? I highly doubt any team would’ve paid Jeter more than $10 million a season and I don’t think Jeter would retire.

OK, so that move probably would have ticked off Jeter. But why did he have to be so greedy? All he tells the media is it’s always about winning. Well, if he had taken less money from the Yankees they could’ve spent more on another free agent. Sorry, Jeter, but now we know it’s not always about winning with you.

The Yankees are in contact with outfielder Carl Crawford and attempted to trade for catcher Russell Martin yesterday.

Martin represents a rare breed of catchers who can actually run. Yes, I mean steal bases — he’s averaged more than 12 per season in the big leagues. He is 27 years old, turning 28 in February, and ranks as a solid catcher. He threw out 39 percent of would-be base stealers last year, while the major league average is 27 percent. I could see a Martin-Jesus Montero combination at catcher in 2011.

As for Crawford, I think he is a great, great player but just not a fit for the Yankees. Here’s why.

My poll results this week strongly favored Mariano Rivera as the most important free agent to the Yankees’ success next year. After hearing the report last night that he’ll re-sign with the Yankees, I thought it was time to re-launch the poll sans Rivera.

So who is it gonna be now? Who is most important free agent to the Yankees’ success next year among these three stars: Derek Jeter, Andy Pettitte or Cliff Lee?

Mariano Rivera is expected to sign a two-year, $30 million deal with the Yankees by Friday night, according to the Daily News.

No surprise he’s back with the Yankees, but it’s just one less thing to worry about now that both parties have reached an agreement.

As for the contract, it seems like Rivera convinced the Yankees to sign him for two years instead of one, but for a cheaper annual salary than he reportedly requested on Nov. 22.

Was this the right move for the Yankees? My quick answer (because I’m in the middle of writing a paper for school) is: his numbers did the talking in these negotiations.

Report Created on Baseball-Reference.com

Oh, and Rivera just turned 41 on Monday. Look at Mo go!

With Derek Jeter’s statistics, 2010 is glaring evidence of a possible decline. In negotiations, Jeter is stressing his importance to the franchise over his whole career, while the Yankees are factoring in his last season a lot more. If Jeter didn’t have a down year in 2010, I’d bet his contract negotiations would be a lot closer to being complete.

In other words, the Yankees have re-signed spot starter/long reliever Sergio Mitre. Don’t worry, it only cost the Yankees $900K.

Mitre posted a 3.33 ERA last year in 54 innings, striking out 29 batters and walking 16. I don’t mind having him in the back of the bullpen.

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