According to SI.com, reliever Rafael Soriano has agreed to a deal with the Yankees, thought to be forthree years, $35 million. Soriano will set-up closer Mariano Rivera, who is signed for the next two seasons. The New York Times reports that Soriano has opt-out clauses, allowing him to make $11.5 million for one year, $21.5 million for two, and the $35 million for all three.

The 31-year-old Soriano saved an American League-best 45 games for Tampa Bay in 2010, compiling a 1.73 ERA while striking out 57 and walking 14 in 62 1/3 innings. In 2009 the righty saved 27 games for the Braves, finishing with a 2.97 ERA.

The move would cost the Yankees their first-round draft pick (31st overall) since Soriano was a Type-A free agent. It comes just days after New York general manager Brian Cashman said the Yanks wouldn’t be willing to sacrifice a first-round draft pick in order to sign any free agent. The move also guarantees that the Red Sox will be receiving Texas’ first-round pick as compensation for Adrian Beltre agreeing to his deal with the Rangers since Soriano was the last remaining free agent with a higher Elias ranking than Beltre. (If Soriano signed with the Rangers, their pick would have gone to the Rays.)