The Cleveland Indians have reached an agreement with free-agent Nick Swisher on a four-year contract worth $56 million.
The deal includes a $14 million vesting option for the 2017 season that could bring the value of the deal to $70 million.
Swisher hit .272/.364/.473 with 24 home runs and 93 RBI in 148 games for the New York Yankees.
The Yankees made a qualifying offer to Swisher for $13.3 million, which was rejected.
The Yankees will receive a draft pick as compensation.
Swisher will likely play right field for the Indians, who traded Shin-Soo Choo to the Cincinnati Reds earlier this month.
The Rangers, Mariners, Red Sox, and Orioles were among the the teams interested in signing the 32-year-old outfielder.
Swisher’s deal represents the third largest for a position player this off-season.