The deal needs the approval of the commissioner's office because of the money involved. The Pirates will pay $13 million of the $31.1 million remaining on Burnett's contract, sources said (Burnett is on a year-round contract and already has been paid $1.9 million in 2012). The trade will be finalized no later than Monday.
As a Yankee the past three seasons, Burnett is 34-35 with a 4.79 ERA. He is 121-111 with a 4.10 ERA in 13 seasons with the Yankees, Blue Jays and Marlins.
The Pirates will send right-handed reliever Diego Moreno and outfielder Exicardo Cayones to New York in return. Moreno, a 25-year-old from Venezuela, has split the past two seasons between the Class A and Double-A minor league teams. Cayones, who is 20, spent 2011 in Class A.
On Sunday, Burnett will take his physical -- while his new teammates are going through the first workout for pitchers and catchers.