Bronx, NY (My Sportsbook) - In what could be the final press conference ever held at the old Yankee Stadium, the New York Yankees unveiled their new arms on Thursday, as they finalized their deals with left-hander CC Sabathia and righty A.J. Burnett.

Sabathia's contract is for seven years, and although financial terms were not released, he is believed to have signed the largest contract ever handed out to a pitcher and the fourth largest in baseball history at $161 million.

If the numbers are correct, it is slightly under the average annual value of Johan Santana's deal with the New York Mets. However, it has been reported that the deal also includes an opt-out after the first three years, which are worth $69 million.

"I'm excited to be here," Sabathia said. "I want the ball every day, and I feel I can take on that (ace) role. With A.J., Mariano (Rivera), Joba (Chamberlain), Derek (Jeter) and Alex (Rodriguez) here, what better support can you have?"

Sabathia won the 2007 American League Cy Young Award after going 19-7 for Cleveland, but stumbled out of the gates this past season, losing his first three and five of his first six decisions.

After posting a 5-8 mark with a 4.26 earned run average in 18 starts for the underachieving Indians, the Tribe dealt Sabathia to the Brewers in early July for a handful of prospects, including power-hitting outfielder Matt LaPorta.

The 28-year-old Sabathia flourished in the National League, going 11-2 with a 1.65 ERA in 17 starts, while leading the Brewers to the postseason for the first time since 1982. His seven complete games and three shutouts also led the Senior Circuit, despite him pitching just over a half season there.

A first round-pick of the Indians in 1998, Sabathia had spent his entire career with Cleveland until this past season's trade. He is 117-73 lifetime with a 3.66 ERA in 254 starts.

Meanwhile, Burnett, who signed a five-year deal worth a reported $82.5 million, posted an 18-10 record with a 4.07 earned run average in 2008 for Toronto, while starting a career-high 34 games. He also struck out an American League-best and career-high 231 batters.

Following his career-year, Burnett chose to become a free agent, as he opted out of his five-year, $55 million contract after just three years with the Blue Jays,

"This is a dream come true," Burnett said. "I'm looking forward to it; it's going to be a fun ride. I want to pitch in the postseason, and I'm here to win."

The 31-year-old hurler has been plagued by injuries throughout his career and has only started more than 30 games on one other occasion and has gone over 200 innings just three times. Burnett did not hit the disabled list at all this past season, but has been sidelined 10 times over his nine years in the big leagues.

Before this season, Burnett had never won more than 12 in a season. In three years with the Blue Jays he was 38-26. For his 10-year career, which started with seven years for the Florida Marlins, Burnett has an 87-76 record with a 3.81 ERA.