The move was finalized not long before Saturday's 4 p.m. non-waiver trade deadline and just hours after the Yankees made official their trade with the Houston Astros for slugger Lance Berkman. They also acquired outfielder Austin Kearns in from the Indians late Friday night.
Put together, the moves give the Yankees a full-time designated hitter, another late-inning relief option and more bench depth, all for a pittance. For Mr. Berkman, a five-time All-Star, the Yankees gave up Triple-A reliever Mark Melancon and Class A infielder Jimmy Paredes, neither of whom were among their top prospects.
In the deals for Messrs. Wood and Kearns, the Yankees agreed to send the Indians a player to be named later or cash. Apparently, sending Cleveland a ham sandwich was not allowed.
Mr. Berkman joined the Yankees here for their game against the Tampa Bay Rays on Saturday night and started at designated hitter, batting second. Mr. Kearns also arrived at Tropicana Field before the game but was not in the starting lineup. Mr. Wood was said to be on his way here from Toronto, where the Indians are playing this weekend, but it wasn't clear when he would arrive. None of the three players represent blockbuster additions. But for the Yankees (65-37), who already have the best record in baseball, they represent upgrades in the few areas of need that they had.
"These guys have track records," Yankees general manager Brian Cashman said. "As I approached the deadline here, I was looking to secure players who were upgrades over what we currently have. We feel that all of these do that. We wanted to protect the farm system to the highest level we could. I think we've done that."
To make room for their new players, the Yankees designated reliever Chan Ho Park for assignment and optioned outfielder Colin Curtis and designated hitter Juan Miranda to Triple-A Scranton/Wilkes-Barre.
They also moved rehabbing reliever Alfredo Aceves to the 60-day disabled list, but that was strictly an administrative move to clear room on the 40-man roster. Yankees manager Joe Girardi said Mr. Berkman would be the team's primary designated hitter, with Nick Johnson's return from a wrist injury nowhere in sight. Mr. Girardi had used the DH spot to give some of his regulars a break from playing the field but said now, if position players need a rest, they'll get a full day off instead. Mr. Berkman, 34, is in the midst of one of his worst seasons, batting just .245 with 13 homers entering Saturday. But after leaving Houston, where he had spent his entire career, Mr. Berkman said he felt reinvigorated by being thrust into the middle of a pennant race.
"I never thought in a million years it would happen, being a lifelong Houston Astro," he said. "I didn't think that a set of circumstances would come along to make this happen. But I'm very glad to be here."
Mr. Berkman found himself at a sold-out ballpark in a game between the top two teams in baseball Saturday. Had he remained in Houston, he said, "I'd be going up to play the Milwaukee Brewers and there's like 10 people in the stands." As much as Mr. Berkman might help the offense, the addition of Mr. Wood could prove even more beneficial.
Joba Chamberlain has been unreliable as the Yankees' setup man and lost his grip on the eighth-inning job earlier this week. Mr. Wood will not be handed that job immediately, but he will be in the mix.
When asked if Mr. Wood could be the Yankees' setup man, Mr. Girardi said, "He's been a closer. He could be. He's one of those guys that has that kind of stuff."
Mr. Girardi caught Mr. Wood when they were teammates with the Chicago Cubs in the early 2000s. Mr. Wood's injury problems over the years are well-known. He was activated from the disabled list Saturday after missing the last couple weeks because of a blister on his right index finger.
The 33-year-old right-hander has a 6.30 ERA in 23 games this season, but his ERA was inflated by a few particularly bad outings in May. Since the beginning of June, Mr. Wood has allowed just five earned runs in 12 2/3 innings (3.55 ERA).
At the very least, he is an upgrade over Mr. Park, who had a 5.60 ERA in 29 appearances this year. Mr. Park's control was so bad in mop-up duty in Cleveland on Thursday that Mr. Girardi went out with a trainer to make sure he wasn't injured. Mr. Kearns, 30, gives the Yankees a better option than Curtis Granderson against left-handed pitchers.
Mr. Kearns is a career .261 hitter against lefties, while Mr. Granderson has hit just .211 against them. When the Yankees face left-handed starting pitchers, Mr. Kearns will likely start in left field and Brett Gardner will move to center field in place of Mr. Granderson.
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