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Yoenis Cespedes and the New York Mets have agreed to a contract that will bring the free agent outfielder back to New York, according to Ken Rosenthal on Twitter.
Cespedes was acquired by the Mets during the 2015 season, and after testing the free agent waters last offseason, signed a 3 year deal to return to New York that gave him the right to opt out after the 2016 season. Cespedes exercised his opt-out, but the general expectation was that he would return to the Mets on a longer-term deal, and that appears to be what has happened.
According to Rosenthal, the deal is for four years, $110 million. Cespedes gave up $47.5 million by opting out, a wise decision, it appears, given that he's now going to get $27.5 million per year.
UPDATE -- Multiple reports are confirming 4 years, $110 million, and Jon Heyman says Cespedes got a full no-trade clause as well.