Martinez rejoins Yankees in $3 million deal

NEW YORK – Tino Martinez is headed back to the Bronx.

The popular first baseman and the New York Yankees finalized a $3 million, one-year contract Friday, a deal that gives manager Joe Torre a familiar option if Jason Giambi’s health problems keep him out of the lineup again.

Martinez, 37, played for New York from 1996-2001, helping the Yankees win five A.L. pennants and four World Series titles.

A close friend of Derek Jeter, Martinez hit .262 with 23 homers and 76 RBIs for Tampa Bay last season.

“The Florida Marlins probably were my other choice,” Martinez said. “If the Yankees had any interest at all … it’s where I wanted to be; where I wanted to finish my career.”

Giambi, who replaced Martinez as New York’s first baseman in 2002, missed much of last season because of a variety of illnesses, the most significant a benign tumor. He was ineffective at the plate when he returned late in the year, and New York did not include him on its postseason roster. Giambi, the 2000 A.L. MVP with Oakland, wound up hitting .208 with 12 homers and 40 RBIs.

Giambi is a central figure in the use of steroids and the Yankees have been investigating whether they can void his contract, which has $82 million and four years remaining.

Tony Clark and John Olerud, who played in Giambi’s absence, are free agents.