According to the NY Post highly regarded and much sought after Mets lefty pitching prospect Jonathon Niese has been promoted to Triple-A New Orleans. The 21 year old will make his first Triple-A start Wednesday.

Also, the AP is reporting that the Yankees Jorge Posada will have season ending shoulder surgery.

Former Met Paul Lo Duca has been activated from the DL by the Nats. Paulie has been on the DL since the 18th, after getting hit by a pitch. He takes the spot of Chad Cordero , who as mentioned yesterday will be out at least four weeks.

In Yankee land, the AP reports that while Jorge Posada will not require surgery, he’ll miss a minimum of five weeks with a shoulder injury. Its his first trip to the DL in his career.

Still no word yet from the AZ on if the Mets will option Gustavo Molina or DL Brian Schneider . Schneider says he is ready if needed as a backup, as mentioned…everywhere…earlier. However, due to his recent finger infection, he could only catch in an emergency situation. Since he has not played yet this week, a trip to the DL would only result in his loss for another six days.

Peter Abraham writes in his blog that based on adding up contracts of the various players that the Yankees have spent money on this winter, it comes out to a total of $408.4 million, not counting the $30 million Alex Rodriguez could receive in bonus payments or any potential contract Johan Santana gets if he is traded to the team.

The Yankees have spent a ton of money this winter. A-Rod ($275 million), Rivera ($45 million), Posada ($52.4), Molina ($4 million), Abreu ($16 million) and now Pettitte ($16 million).

Alex’s deal is reportedly front-loaded at $32 million for the first three years. At the moment, I have their 2008 payroll at $200.6 million.

That assume Cano and Wang would receive $4 million each. That $200.6 million figure accounts for only 16 players.

If they retain Vizcaino for $3 million and sign the other eight players for around the minimum, the Yankees are looking at a $207 million payroll.

Jorge Posada and the Yankees have finalized their deal. According the AP, after two weeks of work the two have completed a contract for four years and $52.4 million.  They site the Yankees as saying they are unconcerned of his age, since he could possible play DH or 1B in the later stage of the contract.

I think Posada is clearly an above average catcher, though I don’t think he is necessarily Hall of Fame material. I don’t believe he will enjoy the continued success he saw this season, and think this deal will end up looking bad towards the end, especially considering he’ll be 40 and still under contract. Sure…he could play first base. I remember that working out great for Mike when the Mets tried it.  As one of the few guys to have come up through the farm system and played his whole career a Yankee, you’d think he’d have been less about the money and years and more about staying with his team. But hey, its the Yankees. 

The Associated Press reports that according to a person familiar with the negotiations, Jorge Posada has agreed to a four-year, $52.4 million contract with the New York Yankees.

The deal was made just before the exclusive negotiation window closed on Monday night.

The $13.1 million a year average salary makes it the highest per year deal ever for a catcher, topping the one Mike Piazza had while with the Mets from 1999 to 2005.

Ken Rosenthal on Fox Sports reports that the agent for Yorvit Torrealba said Monday that there is “no way” his client will sign with the Rockies before the team loses its exclusive negotiating rights at midnight ET Monday night.

The Yankees will lose exclusive negotiating rights to Jorge Posada tonight as well if they fail to come to terms with the veteran catcher.

The Mets have been reported to have interest in both players as well as in re-signing Paul Lo Duca.

Buster Olney on ESPN writes that the Mets need a reliable innings eater this season that can consistantly take games into the seventh or even the eight inning, however it will be extremely difficult to land one.

Olney thinks Carlos Silva is the best pitcher available on the free agent market, but will command a deal worth about $40 million.

Big names like Johan Santana, Scott Kazmir, and Roy Oswalt are available via trade but the Mets don’t have quite the level of prospects that teams would be seeking in return. Baseball executives are mixed on their evaluation of Lastings Milledge, and while many are high on Carlos Gomez, the Mets seem reluctant to offer him in any deal. Mike Pelfrey and Phillip Humber are viewed as 4th or 5th starters or relievers. Aaron Heilman would be someone Olney considers a valuable trade chip, but the Mets are coming off a season where their bullpen seems to require an upgrade. Olney believes a deal to acquire Joe Blanton is most likely.

Olney also predicts that the Mets will offer Jorge Posada a four year deal, which depending on how much the Yankees are willing to spend to retain Posada, could bring the 35 year old catcher to Queens.

Steve Popper, who was punk’d by Paul Lo Duca last season, reports on The Bergan Record that the Mets are set to meet with Lo Duca’s agent, Andrew Mongelluzzi, at the GM meetings on Monday.

Lo Duca’s agent, however, doesn’t think anything will get done for awhile.

“We are open to finalizing a deal with the Mets,” Mongelluzzi said in an e-mail. “The Mets have repeatedly stated that they ‘want the player’ and discussions will continue. However, I don’t believe that the Mets are ready as they are considering all of their options.”

Jorge Posada and Yorvit Torrealba are two targets the Mets may be considering.

In the New York Times, Omar Minaya expressed that he has ‘good interest’ in resigning Paul Lo Duca to the Mets. Minaya and Lo Duca’s agent have spoken, but he didn’t indicate if he would be able to make a deal before the November 13th deadline, when free agents are able to negotiate with other teams.

On Mets Blog, Matthew Cerrone cites a Daily News report by Bill Madden and Mark Feinsand that the Mets have ’strong interest’ in Jorge Posada.