All but done

Giambi, Yanks put finishing touches on seven-year deal

Jason Giambi led the AL in doubles (47), walks (129) and slugging percentage (.660). AP

BOSTON (AP) -- The New York Yankees just about finalized their deal with Jason Giambi on Monday, a seven-year contract approaching $120 million.

The team and player began making arrangements for the first baseman to take a physical, a baseball official and a lawyer familiar with the talks said on the condition they not be identified.

When a player takes a physical, it's usually a sign that a deal is imminent. The contract will be worth $118 million to $120 million, the sources said, with the amount hinged to the payout schedule.

At $120 million, the contract would have an average annual value of $17.14 million. That would be the fifth-highest in baseball behind Texas shortstop Alex Rodriguez ($25.2 million), Boston outfielder Manny Ramirez ($20 million), Yankees shortstop Derek Jeter ($18.9 million) and Chicago Cubs outfielder Sammy Sosa ($18 million).

If there are no problems with the physical, the contract could be finalized later this week, the sources said.

Giambi's agent, Arn Tellem, did not return a telephone message. Yankees general manager Brian Cashman has not commented on the Giambi talks.

Oakland general manager Billy Beane, arriving at the winter meetings, said he hadn't heard recently from Giambi, the heart of his lineup. The Athletics haven't moved from their $91 million, seven-year offer, making the Yankees confident Giambi will sign with them.

"The way it has been reported, it seems like it has already happened," Beane said.

While the A's are offering less money, Giambi has spent his entire professional career with the team, and his brother, Jeremy, plays for Oakland.

"I don't feel that we're out of it," Beane said. "But we have to be realistic."

The 30-year-old Giambi hit .342 with 38 homers and 120 RBIs last season, finishing second in voting for the AL MVP award after winning in 2000.

New York also moved closer to re-signing pitcher Sterling Hitchcock, and the Yankees talked with the agent for free-agent outfielder Rondell White.

Notes: Mel Stottlemyre decided against retirement and will return for his seventh season as the Yankees' pitching coach. Stottlemyre missed the 2000 playoffs while undergoing treatment for cancer, then rejoined the team last February. ... Rick Down will become the hitting coach and Rich Monteleone the bullpen coach, the team said Monday in confirming decisions made immediately following the World Series. Down, the Yankees' hitting coach from 1993-95 and Boston's hitting coach last year, replaces Gary Denbo, who took over from Chris Chambliss after the 2000 season. Monteleone replaces Tony Cloninger, the bullpen coach since 1992 season. Monteleone had been a minor league pitching coach and coordinator in the Yankees' organization.

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