The New York Yankees have made their first decisions of the Fall GM meetings. Brian Cashman announced that New York will buy out the final years of Jason Giambi’s and Carl Pavano’s contracts. “Given the circumstances and the money involved, I don’t think they were surprises to anybody,” Cashman told the AP on Tuesday. While there is an outside possibility that both could re-sign with the team, Giambi may be heading back to Oakland, and Pavano’s solid starts late in the season drew interest from many teams.
Andy Pettite is likely to remain a Yankee, although he would likely take a significant pay cut from his $16 million 2008 salary.