The Philadelphia Phillies officially signed free agent reliever Tom Gordon to a three-year, $18 million contract on Saturday.
Gordon is expected to be Philadelphia's new closer and will earn $4.5 million in his first season, $7 million in 2007 and $5.5 million during the final year of the bonus-laden deal.
The club holds an option for the 2009 season worth $4.5 million, or it can exercise a $1.0 million buyout with Gordon, whose contract can reach $21.5 million if Philadelphia picks up the fourth-year extension.
Gordon, who needed to pass a physical before the deal became official, fills the vacancy in the bullpen after closer Billy Wagner signed a four-year contract with the New York Mets earlier this week.
New Philadelphia general manager Pat Gillick scrambled to lure Gordon, who was also reportedly negotiating with the Yankees, Cleveland and Texas.
The right-hander went 5-4 with a 2.57 ERA and two saves for the New York Yankees last season. He served as the setup man for Mariano Rivera.
Gordon allowed only four earned runs in his final 20 appearances of the season and went to the mound 79 times overall. He has the most appearances of any pitcher in Yankee history over a two-year period (159 games).
It has been a well-traveled road for Gordon during his major league career. He has also pitched for Kansas City, Boston, the Chicago Cubs, Houston and the White Sox, and has compiled a 127-115 record with 116 saves and a 3.93 ERA.
Gordon served as a part-time starter for the Royals at the start of his career before the Red Sox converted him to a closer full-time in 1998. Gordon responded with 46 saves that season, and had established the major league record for consecutive games saved at 54 until Eric Gagne broke that mark in 2003 for the Los Angeles Dodgers.