BOSTON, Dec. 13 (UPI) -- The New York Yankees completed their long courtship with Jason Giambi Thursday, signing the star first baseman to a seven-year contract.
Financial terms were not disclosed, but various published reports claim that Giambi agreed to leave the Oakland Athletics for a deal worth anywhere between $118 million and $120 million.
Giambi was the jewel of this year's crop of free agents and chose the bright lights and big money of the American League's best team. He leaves the fiscally constrained A's and join a team that has participated in five of the last six world series.
Giambi also dons the uniform of the team that has eliminated Oakland from postseason contention in each of the last two seasons.
After weeks of speculation, Giambi was introduced at Yankee Stadium, a facility that seems perfectly suited for the slugger's lefthanded swing. He also factors into the middle of a revamped lineup that now rates among the best in the game.
The signing also serves as the latest exhibit admitted into evidence in the battle between small and large market teams. Giambi's deal would have the fifth-highest annual value, and of those deals, two now belong to Yankee infielders.
But the A's did have a chance to lock up Giambi for the long term last season but the team refused to include a no-trade clause that appeared to be a deal breaker. And even though Oakland has one of the best young teams in the game and a talented pitching staff that figures to be together for the next few years, Giambi opted for playing on baseball's biggest stage.
The 2000 AL Most Valuable Player when he hit .333 with 43 homers and 137 RBI, Giambi finished second in the voting this season, when he batted .342 with 38 homers and 120 RBI. He remains one of baseball's most selective hitters, drawing 380 walks over the past three seasons.
His patient approach and lefthanded power would fit nicely in a lineup that already features All-Stars Derek Jeter, Bernie Williams and Jorge Posada. But that offense struggled in a seven-game loss to Arizona in the World Series and has since lost former All-Stars Paul O'Neill and Scott Brosius to retirement.
The retirements and impending departures of free agents Tino Martinez and Chuck Knoblauch allowed New York to make a strong pitch to Giambi. The Yankees were determined not to dole out more to Giambi than the $18 million per year they pay Jeter. New York reportedly came in just under that figure.
Giambi is added to a lineup that will feature at least three new faces. The Yankees acquired Robin Ventura last week and reportedly have signed outfielder Rondell White, but the real offensive boost should come from Giambi, a player who has a career average of .308 with 187 homers and 675 RBI in 953 games.
Giambi also has a career slugging percentage of .545 and a lifetime on-base percentage of .412.
Giambi's departure leaves a huge hole in the middle of Oakland's lineup and is the second prominent member of the team to depart via free agency. On Monday, closer Jason Isringhausen signed a four-year contract with the St. Louis Cardinals.
