Bailey, 31, grew up in southern New Jersey and attended Paul VI High School in Haddonfield. He won the American League Rookie of the Year Award with the A's in 2009, and he made the AL All-Star team in 2009 and '10. But a shoulder injury has limited him to just 59 games in the previous four seasons, including 10 last year with the Yankees.
He posted a 1.80 ERA in 28 appearances in the Minor Leagues in 2015 before posting a 5.19 ERA with New York. Before injuries hit, Bailey had a 2.07 ERA with 75 saves in 84 chances from 2009-11.