Source: Drew, Yankees closing in on $5 million, 1-year deal

Infielder Stephen Drew and the New York Yankees are working to finalize a $5 million, one-year contract, according to a person familiar with the negotiations.

The person spoke Tuesday night on condition of anonymity because the deal is subject to a physical. The agreement includes $1.5 million in performance bonuses: $500,000 each for 450, 500 and 550 plate appearances.

New York has planned to platoon Didi Gregorius and Brendan Ryan at shortstop following the retirement of captain Derek Jeter. Drew appears likely to slot in at second base, where the top candidates following the trade of Martin Prado to Miami had been a pair of rookies, 23-year-old Rob Refsnyder and 25-year-old Jose Pirela.

Drew, who turns 32 in March, was acquired by the Yankees from Boston on July 31. He hit .150 with three homers and 15 RBI in 155 plate appearances for New York while making 34 appearances at second base and 12 at shortstop as a backup to Jeter.

He batted .253 with 13 homers and 67 RBI for Boston in 2013 as the Red Sox won the World Series, and then became a free agent. Drew didn't accept Boston's $14.1 million qualifying offer but couldn't find a deal to his liking as teams seemed reticent to part with a top draft pick.

Drew re-signed with the Red Sox on May 22 in a deal that paid him exactly $10 million for the remainder of the season, but he hit .176 with four homers and 11 RBI in 39 games and was dealt to the Yankees at the trade deadline for third baseman Kelly Johnson.