SUNDAY,8:40pm: Eric Chavez confirmed to Bryan Hoch of MLB.com (via Twitter) that he was waiting on the A.J. Burnett deal to come back to the Yanks, but the veteran says that his return is still 50-50.
6:06pm: The Yankees have a framework in place for a deal worth about $1MM plus incentives with Raul Ibanez, tweets Joel Sherman of the New York Post. The deal has been on hold, however, because the club first had to be sure that they didn't have to take on a DH type such as Garrett Jones, Travis Hafner, or Bobby Abreu in an A.J. Burnett trade, Sherman tweets.
There's also mutual interest between Eric Chavez and the club in a return and that deal would also work out to $1MM plus incentives, but not before Ibanez's deal is finalized (Twitter links).
SATURDAY, 2:46pm: The Yankees have been negotiating extensively with representatives for Raul Ibanez, tweets Ken Davidoff of Newsday. An agreement seems very likely once the A.J. Burnett trade is finalized.
This morning, we learned that the Yankees still prefer Ibanez to Johnny Damon because he's better against right-handers and in the field. The club is reportedly intent on adding two bats to the fold.