As per Ken Rosenthal on Twitter, the Pirates have reached terms with Russell Martin, pending a physical.   We will continue to flesh this out with more details about the terms of the deal as they become available.

UPDATE 8:46 p.m. -- Rosenthal tweets, via David Waldstein, that Martin's contract is 2 years/$17M.  If confirmed, that is for a higher average annual value than the original rumor of 3 years/$24M, but the shorter term plays better for the Pirates and their need to evaluate Tony Sanchez at the Major League level.

UPDATE 9:45 PM: A few conflicting reports on whether the Yankees made an offer.

http://twitter.com/JonHeymanCBS/status/274326494686347264

http://twitter.com/Buster_ESPN/status/274333129534226432

Olney also notes that Texas was in on the bidding.

http://t...

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