New York Yankees have completed the signing of eight-time All-star Carlos Beltran, after agreeing a three-year $45 million deal, reports MLB.com.

The 36-year-old outfielder returns to New York for a second spell, having enjoyed a six-year stint across town for the Mets between 2005 and 2011.

Beltran has been added to the Yankees' 40-man roster as a direct replacement for Robinson Cano, who earlier on Thursday agreed to leave the Yankee Stadium in favour of penning a mammoth 10-year $240million contract with the Seattle Mariners.

The three-time Gold Glove Award winner could have joined the Yankees earlier this offseason, but they pulled out of negotiations after the Kansas City Royals entered the race for his signature, driving up Beltran's price to at least a three-year pact.

They opted instead to go with center fielder Jacoby Ellsbury to a seven-year, $153 million deal.

Swiftly after Cano's departure, general manager Brian Cashman said that the Yankees were "on the one-yard line" with at least three players, and it was no bluff.

And, by the close of business, they had agreed to a one-year, $16 million deal with right-hander Hiroki Kuroda and officially announced a contract with infielder Kelly Johnson before also taking Beltran off the free-agent board.

The Yankees have now spent a combined $283million on acquiring the services of Beltran, Ellsbury and catcher Brian McCann.

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