Jon Heyman says the Yankees and Pedro Feliciano will likely finalize a deal today that will pay the everyday lefty $8 million or so over two years. Ken Rosenthal says the Yanks will hold a club option for 2013.

The Mets had offered Feliciano salary arbitration if he chose to remain with the team, but he declined the offer and got more money and more years from the cross-town team. The Mets will receive a sandwich pick between the first and second rounds of next June's amateur draft. The Yankees don't forfeit a pick but they do spend a hefty sum of money on a solid LOOGY.