NEW YORK (Ticker) -- The rich have gotten richer.

The three-time defending world champion New York Yankees, in the midst of one of the greatest runs in the history of the game, today signed prized free agent pitcher Mike Mussina to a six-year contract worth a reported $87 million.

Financial terms were not disclosed by the club, but the New York Times and New York Daily News are reporting that Mussina will earn about $14.5 million per year. The five-time All-Star becomes the second-highest paid pitcher in baseball behind Los Angeles' Kevin Brown, who earns $15.7 million per season.

Mussina made $6.786 million this past season with the Baltimore Orioles. The righthander, who turns 32 on December 8, was one of the top two pitchers available on the market.

Despite going 11-15 for the woeful Orioles last season, Mussina was a hot commodity based on his 147-81 career mark. His 3.79 ERA in 2000 was third in the league and he led the American League with 237 2/3 innings. It was the sixth straight year he has thrown at least 200 innings.

"I thought they were pretty good before, I hope I'm an upgrade," Mussina said. "I could go into the playoffs next year and not get a chance to pitch. That's how good this staff is."

Mussina joins a rotation that features five-time Cy Young Award winner Roger Clemens, 19-game winner Andy Pettitte and postseason ace Orlando Hernandez. He gives the best team in baseball an upgrade over free agent lefthander Denny Neagle, who was 7-7 with a 5.81 ERA after being picked up at midseason.

Mussina and New York Mets lefthander Mike Hampton were considered the top two available pitchers and the Yankees were rumored to have interest in both. But the Bronx Bombers went right after Mussina, wooing him the way only they could.

A call from universally-respected manager Joe Torre was made as soon as Mussina went on the market, and it made a huge difference as the Yankees again added to the largest payroll in team sports.

"That was a pretty good deal to me. It meant a lot," Mussina said of the call from Torre. "That's probably the lead reason I ended up here."

The Yankees had a payroll of roughly $110 million after winning their fourth World Series title in five years. With a lucrative television deal on the horizon, New York was able to splurge on another weapon.

"It's awesome. I feel like I did back to when I was at the University of Texas," Clemens said. "Instead of rebuilding, we would reload. Having `Moose' as a part of our staff makes our rotation as strong as it's been since I've been here."

With the decline of former Cy Young Award winner David Cone and Neagle's impending departure, combined with a veteran-laden team, the Yankees put themselves in position for another title run. The addition of Mussina also gives the Yankees arguably the best starting four in the game.

"I've seen first hand for many years what kind of pitcher he's been in the American League," Yankees pitching coach Mel Stottlemyre said. "I look forward to him filling in a spot in our rotation."

The chance to pitch for a team with a bullpen led by closer Mariano Rivera also was a factor in Mussina's decision.

"Quality of bullpen is important to me. The Yankee bullpen has been extremly good for a number of years," Mussina said.

A resident of Montoursville, Pennsylvania, Mussina added that he had no problem with playing in New York City.

"I rode the subway here (when I played for Baltimore). New York is a great city," Mussina said.

Mussina becomes just the third Yankee to sign a six-year contract. In the 1970s Rich Gossage and Don Gullett were inked to lengthy deals.

The Mets, Orioles and pitching-poor Boston Red Sox were believed to be the leading candidates for Mussina's services. The Washington Post reported today that Orioles owner Peter Angelos delivered a six-year, $78 million offer to Mussina last week in an effort to keep his ace.

The departure of Mussina leaves a gaping hole on an Orioles staff that now features Sidney Ponson and Jose Mercedes on the front end. It is believed that the Orioles are interested in Kevin Appier, who pitched for Oakland last year.

Mussina's winning percentage of .645 is third highest among active pitchers, trailing only Randy Johnson and Clemens. A four-time Gold Glove winner, Mussina won a career-high 19 games in 1995 and 1996.

Mussina was a first-round pick in 1990 out of Stanford and holds a degree in economics.