According to ESPN’s Jim Bowden, Major League Baseball has just approved the trade of Alfonso Soriano from the Cubs to Yankees. Bowden said that Soriano officially waived his no-trade rights and the trade is now official.
The Cubs will pay roughly $17.7 million of the approximately $24.5 million left on Soriano‘s contract, and that they are considering several low-level minor league pitching prospects in return.
Soriano returns to the Yankees, with whom he made his major league debut as a second baseman in 1999. He was traded to the Rangers as part of the Alex Rodriguez deal in 2003. After a year of playing outfield for the Nationals, he signed with the Cubs in 2007 and has primarily played left field.
The Yankees are desperate for power and the Cubs, who are in sell-mode,are looking to move any of their veterans.
Soriano, 37, has hit .254/.287/.467 with 17 home runs in 93 games this season with 48 runs, 51 RBI and 10 stolen bases.