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Jon Heyman is reporting that the Yankees have a deal in place with Brendan Ryan. It has long been reported that the two had mutual interest in a new deal and Ryan just had to pass a physical to make the contract official. That appears to have happened and now he will be a member of the 2014 Yankees.
While he is expected to serve as a backup shortstop behind Derek Jeter, his offensive inadequacies means he wouldn't be much use as an insurance policy. Heyman states that despite the deal, the team is still looking for someone who could sure up the left side and middle parts of the infield. One name they're looking into is Stephen Drew, who would cost a first round draft pick if they signed him.
While Ryan is considered to be the best defensive shortstop in the game, he had his worst season in the field in 2013. Still, he will represent a massive upgrade at the position. The signing and the fact that they're still looking for more fielders could mean the end of Jayson Nix and Eduardo Nunez on the Yankees, as it probably should.
UPDATE:
Apparently the contract isn't official yet, but it's getting close:
The general structure of the deal between NYY and SS Brendan Ryan was agreed to weeks ago; still not finished. In the range of $2 million.
— Buster Olney (@Buster_ESPN) November 18, 2013