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Williams and the Yankees have agreed to a one-year, $8.6 million contract to avoid arbitration Thursday, Jorge Castillo of ESPN.com reports.

Williams was dealt to the Yankees earlier this offseason and has already been named the team's closer. Though he missed most of 2024 due to a back issue, he's maintained an ERA below 2.00 for each of the last three seasons while striking out at least 13.3 batters per nine innings in each of the last five campaigns. Williams will earn $1.6 million more than he did in 2024.

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