The Yankees will send left-handed pitcher Vidal Nuno to Arizona, while also paying a portion of McCarthy’s contract as well as a $1 million assignment bonus.
McCarthy, who will turn 31 on Monday, has struggled so far this season, going 3-10 with a 5.01 ERA in 18 starts through Sunday. The sinker-baller had two consecutive seasons with the Oakland Athletics from 2011-2012 where his ERA was lower than 3.50.
Nuno, 26, was 2-5 with a 5.42 ERA in 14 starts for the Yankees this season.
The Yankees will owe McCarthy $5 million through the end of this season, then he becomes a free agent. It’s likely that New York will use him in the starting rotation, though the Yankees have not confirmed that yet.