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Phil Hughes avoids arbitration with one-year deal

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The Yankees just announced that Phil Hughes has agreed to a one-year contract, avoiding arbitration. The terms of the deal were not announced, but this is Hughes’ third and final year of arbitration and MLBTradeRumors [2] — which has an awfully good formula for predicting this sort of thing — estimated a $5.7 million deal for Hughes.

Dave Robertson, Joba Chamberlain and Boone Logan are the Yankees remaining arbitration eligible players without a contract.

UPDATE: A source says Hughes got $7.15 million.