According to Jon Heyman, the Yankees and Gary Sanchez have agreed to a contract for the 2017 season. Financial terms are unknown, though Heyman says the two sides agreed to a deal and the Yankees didn’t renew their budding star. As a pre-arbitration-eligible player, Sanchez’s salary will be something close to the $535,000 minimum salary.
As you may remember, the Yankees were unable to come to a contract agreement with Dellin Betances prior to the 2016 season, his final season as a pre-arbitration-eligible player, so they renewed him at the league minimum.