December 17th: The contract is finally official. The Yankees announced it earlier today. Happ gets $17M in 2019 and $17M in 2020 with the $17M vesting option for 2021. Joel Sherman says the option vests with 165 innings or 27 starts in 2021, which are quite reasonable terms. There is no buyout on the option, so Happ comes with a $17M luxury tax hit through the life of the contract.
To clear space on the 40-man roster, the Yankees designated righty Parker Bridwell for assignment, the team announced. He was claimed off waivers from the Angels a few weeks ago.