The Yankees are kicking in $5.5 million of the $17 million McCann will make in each of the next two seasons, sources told ESPN's Buster Olney.
In Reddick, the Astros get a steady glove in right field, who in 155 combined games last season between the A's and Dodgers hit .281 with 17 doubles, 10 home runs and 37 RBIs.
McCann's role with the Yankees decreased in 2016 with the emergence of Gary Sanchez. McCann, 32, only started 12 games at catcher after Aug. 1. He was mostly used as a designated hitter against right-handed pitching. He finished the season with a .242 average, 20 homers and 58 RBIs.
The Yankees signed McCann in the winter prior to the 2014 season for five years and $75 million, with a full no-trade clause. McCann, a seven-time All-Star, is in the fourth year of the contract.
The deal includes a vesting option that, in theory, he will now have a better chance of achieving. If McCann has a total of 1,000 plate appearances combined in 2017-18 and he plays 90 games at catcher in 2018, while avoiding the disabled list, he would add another $15 million for 2019.
With the Yankees, it would seem unlikely he would reach those goals, unless Sanchez underperformed or were injured. With McCann gone, the Yankees have catchers Austin Romine and Kyle Higashioka as possible backups to Sanchez on the 40-man roster.
Abreu, 21, was 3-8 with a?3.72 ERA in 101 2/3 innings pitched in the Astros' minor league system. He finished the year at Lancaster, Houston's high-A team in the California League. Guzman, 20, was?3-4 with a?4.05 ERA in 40 innings with two clubs in the Astros' system. He finished the season at Greenville, Houston's rookie league team in the Appalachian League.
Jason Castro?made 111 starts at catcher for the Astros last year (most on the team), batting .210 with 11 homers and 32 RBIs.
ESPN Yankees reporter Andrew Marchand contributed to this report.