Upon approval from Major League Baseball, the trade means Soriano will be back in pinstripes. A club official involved in the trade will send a Class A pitching prospect to Chicago in return. The trade comes less than one week from the league's non-waiver trading deadline on July 31.
Soriano is batting .254 with 17 home runs and 51 runs batted in. Soriano had been removed from the Cubs starting lineup Thursday, just before the deal was announced.
He will help the Yankees' offense, which has struggled as the team's star players have suffered a string of injuries. But Soriano, 37, will join the older players with his own history of injuries, especially knee problems.
Soriano is guaranteed almost $25 million through 2014, and the Yankees are still pushing to maintain