Park signs $1.2M contract with the New York Yankees

Park Chan-ho

It’s official. Free agent Park Chan-ho is a Yankee.

The veteran pitcher announced he reached a one-year deal with the historic New York-based club at his Park61 fitness center in Yeoksam, southern Seoul, yesterday afternoon.

“I know it’s a bit sudden but I decided to sign with the New York Yankees at 9 a.m. Korean time,” Park told the media. “The contract is a one-year deal for $1.2 million with $300,000 in incentives.”

Park is coming off a season with the Philadelphia Phillies in which he posted three wins and three losses with an ERA of 4.43. He struck out 73 batters in 83.1 innings pitched.

After a lackluster start to last season as the Phillies’ fifth starter, Park was effective out of the bullpen and he played a key role in the club’s postseason run. Philadelphia eventually lost the World Series to the Yanks in six games. Park is expected to pitch in a similar role with the Yankees and can also be a backup option for the fifth spot in the starting rotation.

By Jason Kim [jason@joongang.co.kr]