It had previously been reported that there was mutual interest in a deal between the Yankees and Brendan Ryan, however not much beyond that was known.
It looks like Peter Gammons was reporting that a deal had been set for weeks and was only waiting on a physical. Ryan had minor surgery in the offseason, so it makes sense that they would want to make sure he was healthy.
With Derek Jeter now under contract for 2014, the Yankees will need to find someone better than Jayson Nix and Eduardo Nunez to play backup to the captain.
Ryan filled in well during the second half of 2013, and a reunion makes perfect sense. However, if Jeter is limited by injury again, like last season, Ryan won't be a very good replacement.
Ryan, 31, has never been a good hitter (71 wRC+), but his defensive prowess ranks among the best in the league. In only 152 innings at short, he saved four defensive runs and had a 12.7 UZR/150 as a Yankee. While he won't make up for Jeter's bat, he's ten times the fielder Jeter has ever been. If Ryan is healthy, we should be hearing about a deal soon as the Yankees look to get their bench in order.