The 28-year-old Teixeira is the type of hitter the Yankees hope will revive an offense that dropped from a major league-leading 968 runs in 2007 to 789 last season. The switch-hitter batted a combined .308 with 33 homers and 121 RBIs for the Braves and Angels. He has reached 30 homers and 105 RBIs in five consecutive seasons.

Teixeira gets a $5 million signing bonus, $20 million in each of the first two seasons, and $22.5 million in each of the final six years. He has a full no-trade clause.

Red Sox executives met with Teixeira and Boras in the Dallas area last week. After Teixeira decided on the Yankees, Boston president Larry Lucchino said succinctly: “No comment at this time.”

Teixeira should help fill a void in the Yankees lineup created by the departures of first baseman Jason Giambi and right fielder Bobby Abreu, who became free agents. It also creates a logjam for New York, which acquired first baseman Nick Swisher last month in a trade with the Chicago White Sox.

Although Swisher also can play the outfield, the Yankees have a multitude of options there, including Johnny Damon, Hideki Matsui, Melky Cabrera, Brett Gardner and Xavier Nady. Matsui is likely to be the designated hitter much of the time.

For all of Teixeira’s positives, he gives the Yankees another slow-footed player who in 2010 will become the team’s third starting infielder in his 30s. But the 2005 All-Star is a two-time Gold Glove winner who should improve New York’s defense.

His agreement raises the Yankees’ commitment for next year to approximately $185 million for 16 players on the 40-man roster. New York has three players eligible for arbitration: Nady, Cabrera and reliever Brian Bruney.

After Teixeira’s agreement, the Yankees must reassess whether they want to re-sign pitcher Andy Pettitte, who was given an offer of about $10 million for one year but thus far hasn’t accepted it.

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