According to various reports, the Yankees are closing in on re-signing Hideki Matsui for a deal in the neighborhood of 4 years, $50 million:

“I don’t care much about the number of years,” Matsui told Kyodo News Sunday. “You might think the longer a deal runs, the better. But it’s not necessarily so because I can be given the same opportunity as I have now again if it runs over a relatively short period.”
(Newsday)

By midnight tonight, Matsui will have his new deal.

In a minor note, relief pitcher Taynon Sturtze is due to become a free agent tomorrow if the Yankees don’t exercise his $1.5 million option today. Michael Morrissey reports in the Post that, “A team source said no final decision had been made, but the Yanks are leaning toward keeping him.”