5 years 82.5 million That's paying for 3.3 WAR.It's a pretty good deal for the Yankees
The last three seasons Burnett has thrown 135.6, 165.6, and 221.3 innings with FIPs of 3.79, 4.33, and 3.45. On January 3rd he'll turn 32, and while he does have a history of injuries he's still been pretty valuable to his teams. During the Jays part of his career Burnett was worth 30, 26, and 57 non-leverage runs saved, an average of 38 runs per season, or 3.8 WAR. Even if he immediately starts slipping 0.3 WAR per season, he'll be worth 14.3 WAR over the life of the contract and 86 million.
If Burnett can stay relatively healthy, the Yankees are going to look pretty at the end of this contract, and even if he doesn't there's a good chance this thing turns out okay.
Love them or hate them, the Yankees are taking advantage of a buyers market.