The Yankees have completed a trade with the Cincinnati Reds sending left-hander Aroldis Chapman, the fastest pitcher in Major League Baseball, to New York for minor leaguers, CBS Sports MLB Insider Jon Heyman confirmed Monday. Jack Curry of the YES network first reported the deal, which the Yankees announced on Monday afternoon.

Here's the return to the Reds: Right-handers Caleb Cotham and Rookie Davis, along with infielders Eric Jagielo and Tony Renda.

The Reds nearly traded Chapman to the Dodgers earlier in the offseason, but after a police report surfaced that included allegations of domestic violence against Chapman, the deal was scrapped. Chapman may still be subject to suspension under MLB's new domestic violence policy.

The left-handed Chapman, 27, is one of the hardest throwers in baseball history and has established himself as an elite frontline closer. This past season, he pitched to a 1.63 ERA and 1.94 FIP with 116 strikeouts in 66 1/3 innings. For his career, Chapman owns an ERA of 2.17 and a K/BB ratio of 3.52 across parts of six big-league seasons. Over that span, he's struck out 42.9 percent of opposing hitters, and those opposing hitters have batted just .154 against him.

Chapman is third-year arbitration-eligible for 2016 and will certainly fetch a substantial raise over his $8.05 million salary for 2015. Presently, he's on target for free agency following the upcoming season. However, if Chapman is suspended for 46 games or more, then his free agency would be pushed back a year.

On the Reds' side of things, Jagielo, 23, was the Yankees' first-rounder in 2013. He's batted .266/.356/.469 across parts of three minor-league seasons. He reached the Double-A level in 2015. Renda, 24, was Nationals' second-rounder in 2012. He was acquired by the Yankees this past season and has batted .285/.360/.366 with 87 steals in four seasons.

Cotham, 27, reached the majors last season (9 2/3 innings for the Yankees). In six minor-league seasons, Cotham has pitched to a 3.94 ERA and 2.56 K/BB ratio. Since 2014, he's worked exclusively as a reliever. Davis, 22, was a 14-rounder out of high school back in 2011. He's logged a 3.90 ERA and 3.52 K/BB in 352 2/3 innings across four years. Of his 72 games, 63 have been starts.

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Closer Aroldis Chapman is heading to the New York Yankees. (USATSI)