The New York Yankees have apparently made their second big splash on the MLB free agent market by signing outfielder Jacoby Ellsbury away from the Boston Red Sox on a seven-year, $153 million contract. It was going to cost the Yankees a lot to pry the former All-Star away from their division rival, but over $20 million a season for a 30-year-old outfielder may seem like a bit too much. 

Ellsbury finished 15th in the American League MVP voting this past season, hitting .298 with a league-leading 52 steals and 48 extra-base hits. Rotochamp curently has Ellsbury projected to hit third behind Brett Gardner and Derek Jeter, which would give the Yankees a nice amount of speed atop their order. The veteran is also an excellent fielding center fielder, as evidenced by his 2011 Gold Glove Award. With that said, it's still ridiculous to think that he will be making over $20 million as a 36-year-old outfielder towards the latter end of the deal. 

Remember, the Yankees signed former Atlanta Braves catcher Brian McCann to a five-year, $85 million contract earlier in the offseason. That's a total of $238 million allocated to two players who will be on the wrong side of 30 when the 2014 season gets going in April. 

It remains to be seen whether this deal eliminates the possibility that Robinson Cano will return to New York. Reports indicate that the Seattle Mariners, of all teams, are working hard to sign the infielder. Other reports show that the Yankees and Cano remain far apart in terms of money at this point.