According to ESPN's Jerry Crasnick, the Yankees reached a preliminary agreement with A.J. Burnett on a five-year, $82.5MM deal ($16.5MM per year on average). The deal is pending a physical, and some final terms must be hammered out. The Blue Jays will receive the Yankees' second-round pick in next year's draft, plus a supplemental pick.
That's $243.5MM spent by the Yankees on starting pitching, unless C.C. Sabathia opts out. The Braves will have to figure out a Plan B.