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Yankees Nab Tex; Try to Buy a World Series Ring

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Mark Teixeira during his brief stint with the Angels. AP File Photo/Chris Carlson

The Evil Four-Letter's Buster Olney is reporting that Mark Teixeira has agreed to an eight-year $180 million contract with the New York Yankees. While the Angels, Red Sox, Nationals and Orioles were all in the hunt for Teixeira over the past couple of months, the Yankees hid on the sidelines ready to swoop in if the deal was right.

This caps a free agency period where the Yankees signed left-handed starting pitcher CC Sabathia to a seven-year $161 million contract and right-handed starter AJ Burnett to a five-year $82.5 million contract. Surprisingly enough even with the additions of Teixeira, Sabathia and Burnett, the Yankees' payroll now as-is is still below their payroll for 2008.

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It's very clear that the biggest losers of this deal is Manny Ramirez and the Yankees.