- Associated Press - Friday, March 25, 2011

NEW YORK (AP) - A person familiar with the negotiations tells The Associated Press that right-hander Kevin Millwood has agreed to a minor league contract with the New York Yankees.

Millwood would get a $1.5 million, one-year contract if added to the 40-man roster, the person said, speaking on condition of anonymity because the deal had not yet been announced.

He would have the chance to earn $3.5 million more in performance bonuses: $500,000 each for five, 10, 15, 20 and 25 starts. He would get an additional $1 million for 30 starts.

If Millwood is not added to the major league roster by May 1, he can opt out of the deal.

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