The Yankees have signed right-handed pitcher Derek Lowe, reports Marc Carig of The Star-Leger. The 39-year-old was released by the Cleveland Indians earlier this week. Lowe has a 5.52 ERA in 21 starts (8-10) for the Indians this season, including an 8.80 ERA in his last dozen starts. Lowe has agreed to pitch out of the bullpen.
Because the Indians flat out released him, the Yankees will only owe the veteran right-hander the pro-rated portion of the league minimum.
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