The Yankees and Padres completed a deal of Rondell White from the Yankees for Bubba Trammell of the Padres and a minor league pitcher, left-hander Mark Phillips.
The two teams essenitally traded $4.75 million contracts as White will make $250,000 more than Trammell this year and the Yankees got a throw in left handed pitcher. If you call the 9th overall pick of the 2000 draft "a throw-in".
Phillips wasn't outstanding in the single A California League, but he averaged more than a strikeout per inning.
White will be a free agent after this season while Trammell has a team option of $4.75 million for next year with a $250,000 buyout. The most likely scenario has the Padres letting White go via free agency and collecting the draft picks this winter.
Say what you want about the Yankee Money Bags, they know how to be shrewed, too.