Yanks sign Sergio Mitre

Well, it’s time to look at Brian Cashman’s first splash in the Hot Stove season. Cashman made a minor move in snagging right-hander Sergio Mitre off the market.

Mitre’s last employer was the Florida Marlins, who released him after he underwent season-ending Tommy John surgery. Mitre, who turns 28 in February, should be ready by midseason of 2009.

From Yankees.com:

Mitre, who turns 28 in February, is recovering from Tommy John ligament replacement surgery in July and was a member of Girardi’s stable in 2006, when both were in Florida Marlins uniforms.

“We’ve agreed in principle to a Minor League contract,” Yankees general manager Brian Cashman said. “He’s rehabbing from Tommy John and he’s on a Minor League contract, so it doesn’t really affect anything on the Major League side. We hope someday it could.”

The Major League portion of Mitre’s contract is for $1.25 million, and there is a team option for 2010.

Due to the severe surgery on his right elbow, Mitre may not be ready to pitch until midseason, according to his agent, Matt Sosnick. Normal recovery time from Tommy John surgery is 12-18 months.

“About eight teams showed interest,” Sosnick said. “The Yankees showed the most interest.”

When healthy, Mitre has tremendous upside. He could be a key contributor for New York in the second half, working either out of the rotation or in the bullpen.

This move seems like a low-risk, high-reward kind of acquistation. Anyway, with Damaso Marte probably departing, it makes sense to cash in some insurance in a young pitcher, such as Mitre.