It’s official: Cubs trade Soriano to Yankees
The Cubs’ have traded Alfonso Soriano to the Yankees, with 21-year-old right-hander Corey Black the piece coming back to the Cubs, both teams announced Friday afternoon.
The Cubs will send $17.7 million to the Yankees to help offset the $24.5 million owed Soriano. The deal is structured in such a way that the Cubs will be responsible for $13 million of Soriano’s $18 million salary in 2014, leaving the Yankees with only a $5 million hit against baseball’s soft salary cap.
Multiple reports have said the Cubs were given a choice of second-tier pitching prospects to choose from, and the belief is they’ll take Black, a high-A starter with a big arm, over Double-A closer Tony Kahnle.