The Yankees, a source told ESPNNewYork.com, were at three years for $39 million for a couple of weeks but were told $45 million would seal the deal. They reached that number two weeks ago and Beltran was in the Bronx on Friday.
"This is someone who has always wanted to be a Yankee," Cashman said. "We've experienced discussions along the way throughout our tenure with the possibility to bring him in here. We are happy to land him now."
Cashman evoked the name of The Boss and the late owner's penchant for bringing former Mets stars to the Bronx.
"George Steinbrenner and his family have had a chance to take some players that have been premier players with the New York Mets and later in their careers they have come over here to continue their successful runs as major league players," Cashman said. "Those examples are clearly David Cone, Dwight Gooden [and] Darryl Strawberry, to name a few."