NEW YORK — The New York Yankees have finalized their contracts with free-agent pitchers CC Sabathia and A.J. Burnett.

The pair reached preliminary agreements last week, with Sabathia getting a $161 million, seven-year contract and Burnett an $82.5 million, five-year deal. Sabathia's agreement is a record amount for a pitcher.

New York hopes the pair will stabilize a team that missed the playoffs this year, ending a streak of 13 consecutive postseason appearances.