According to MLB.com's Bryan Hoch, the Yankees and Raul Ibanez have reached terms on a free agent contract. It would appear the two sides were set to agree to a pact long before A.J. Burnett was dealt, but nothing could be made official until the pie thrower was tossed out of town.
Ibanez, who will turn 40 in June, hit .245 last season with 20 HR, 84 RBI, and a career low .707 OPS (for seasons with at least 100 games played). He will be the primary DH against right-handed pitching and will occasionally give Brett Gardner and Curtis Granderson a rest by playing left field, something he's not very good at. (A combined 11 errors for Seattle in 2007-8).
The majority of Ibanez's offensive numbers came against right-handed pitching (.747 OPS vs .585 against lefties) last season and that trend should continue this year with Andruw Jones seeing time at DH against southpaws. Of course plenty of DH at-bats will go to Alex Rodriguez, Derek Jeter, and the other older veterans on the team.
The deal is believed to be worth $1.1MM and is contingent on a physical. According to Ken Rosenthal, with incentives Ibanez can earn $4MM.