Cliff Lee Passes on Yankees for Phillies

Cliff Lee will opt for a five-year, $120 million deal with the Philadelphia Phillies over a possible $148 million six-year deal with the New York Yankees.
By Theresa McCabe ,

NEW YORK (

TheStreet

) -- Cliff Lee will opt for a five-year, $120 million deal with the Philadelphia Phillies over a possible $148 million six-year deal with the New York Yankees.

The deal with the Phillies also includes an opportunity for a sixth year. If he pitches 200 innings in 2015 or a total of 400 innings during the 2014 and 2015 seasons he will receive a $27.5 million bonus, according to

ESPN

said.

The pitcher apparently turned down higher offers from the Texas Rangers and the Yankees to return to Philadelphia after the Phillies general manager Ruben Amaro Jr. traded Lee to Seattle for three prospects halfway through last season. Amaro had acquired Lee from the Cleveland Indians in July 2009.

While Phillies spokesman Kevin Gregg wouldn't confirm the contract, Rangers manager Jon Daniels told MLB.com that Lee had called to tell him his decision. Daniels said Lee and his family enjoyed living in Philadelphia and were interested in the opportunity to return.

The Yankees offered a $132 million, six-year contract with a $16 million player option for a seventh season, which would have brought the total deal to $148 million.

Lee, 32, is the third Major League free agent to sign a contract of more than $100 million this offseason. The agreement is the third-largest guarantee for a pitcher, behind CC Sabathia's $161 million deal with the Yankees and Barry Zito's $126 million contract with the San Francisco Giants.

--Written by Theresa McCabe in Boston.

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