Bañuelos had a 4.39 ERA in 41 innings for the Yankees and Pirates last season. The Pirates will likely try to bring him back on a minor league contract.

The 31-year-old southpaw made it back to the big leagues for the first time since 2019 in 2022 -- posting a 4.39 ERA, 1.29 WHIP and 42/21 K/BB ratio over 41 innings in 35 appearances between the Yankees and Pirates. He's still talented enough that there may be another club willing to take a shot on him on waivers.

The Yankees were able to find a trade parter for Bañuelos after he was designated for assignment. The 31-year-old left-hander will join the Pirates bullpen after posting a 2.16 ERA over 8 1/3 innings with New York. 

Bañuelos has been removed from the Yankees' 40-man roster to make room for JP Sears to be recalled from Triple-A Scranton/Wilkes-Barre and make a spot start on Tuesday night against the Athletics. The 31-year-old lefty has pitched extremely well this season, compiling a sparkling 2.16 ERA, 1.20 WHIP and 8/3 K/BB ratio across 8 1/3 innings (four appearances). It wouldn't be surprising to see the Yankees find a trade partner in the next few days.