With the Yankees reportedly set to sign Carl Pavano, the Red Sox inked David Wells to a two-year contract last night. According to the Boston Globe, the deal is:

For a guaranteed $8 million, plus an additional $10 million in performance incentives that could make the total package worth $18 million.

Under the terms of the agreement, Wells would receive a $3 million signing bonus and have a base salary of $2.5 million in 2005 and 2006. He also would have the opportunity to earn an additional $5 million in performance bonuses in each year of the contract.

As if the rivalry needed any more excitement. Wells, a fan favorite in New York, will now pitch for Boston. (Bet he plunks Rodriguez next year to ignite another brawl.) This is a good signing for the Sox. After all, who would you rather pitching for you: Boomer or Eric Milton? Yeesh. This should all but assure the Yanks of throwing their dough at Pavano and perhaps Milton too. They are talking about four-years, $42 million for Pavano. If you are going to spend that kind of loot, why not up it to $50 and nab Pedro? The question remains: Would Pavano, Milton and Wright make the Yankees a significantly better ball club?

Anyone else get the sense that it is the Yankees desperately trying to keep up with the Red Sox now?