The New York Yankees agreed to a one-year contract worth $5 million with outfielder Trent Grisham on Friday to avoid arbitration, according to ESPN's Jorge Castillo.

Per Castillo, Grisham can make an additional $250,000 in bonuses that are tied to plate appearances as part of the deal.

The Yankees are also still attempting to re-sign Juan Soto, as the team's meeting with the star outfielder on Monday went "very well" (via Jon Heyman of the New York Post).

Grisham and Soto both came to New York as part of the same blockbuster trade with the San Diego Padres in Dec. 2023. After spending the first season of his career with the Milwaukee Brewers in 2019, Grisham spent the next four years in San Diego prior to the deal.

He served as a bench piece for the Yankees last season and was primarily utilized for his defensive acumen despite his underwhelming production at the plate. Grisham hit .190 with nine home runs and 31 RBIs in 209 plate appearances to go along with a .675 OPS.

The two-time Gold Glove winner was on New York's postseason roster in each series throughout the team's American League pennant run, but he didn't suit up in a game after the regular season came to a close.

Regardless of Soto's free-agent decision, Grisham should continue to operate in a depth role among the Yankees' outfielders in 2025.

New York still appears to be a strong candidate to retain the four-time All-Star, especially after Monday's meeting. Heyman reported that Soto "felt better" about the Yankees as well as club owner owner Hal Steinbrenner following a "great pitch" from Steinbrenner.

With Grisham's future in New York secured for next season, the front office will continue its efforts to bring back Soto.