MLB Hot Stove: Yankees reportedly sign Aroldis Chapman to five-year deal

The hard-throwing closer will reportedly make $86 million

The Yankees and free agent closer Aroldis Chapman have agreed to a five-year contract worth $86 million, according to Fox Sports' Ken Rosenthal and multiple reports.

Chapman, 28, spent most of 2016 with the Yankees before they traded him to the Cubs prior to the non-waiver deadline. For the Cubs and Yankees last season, he pitched to a 1.55 ERA and a 5.0 K/BB ratio. For his career, Chapman boasts an ERA+ 192 across parts of seven major-league seasons. In large part because of a fastball that averages triple digits, he's struck out 42.6 percent of opposing hitters over that span -- a remarkable figure.

Chapman's $86 million deal rather easily breaks Mark Melancon's record for largest closer contract -- $62 million -- that he set earlier this week. Of benefit to the Yankees is that signing Chapman, because he was traded mid-season and thus could not be tendered a qualifying offer, will not cost them a compensatory draft pick. More details:

Source: Chapman deal includes three-year opt-out, full no-trade for first three years, limited no-trade for final two.

— Ken Rosenthal (@Ken_Rosenthal) December 8, 2016

As ESPN's Marly Rivera reports, Chapman's decision came down to the Yankees and the Marlins. That the Marlins lost out likely means that they'll be competing with the Dodgers for Kenley Jansen's services.

Chapman's return to the closer role in the Bronx means that fellow shutdown reliever Dellin Betances will go back to a setup role.