Alfonso Soriano, who began his career with the New York Yankees, is headed back to the Big Apple.

Sources are reporting Soriano is being traded from the Chicago Cubs to the Yankees in exchange for a minor leaguer Corey Black, who is in Class A.

In addition, the Cubs will pick up two thirds of the $24.5 million Soriano is due from now to the end of the 2014 season.

Soriano waived his no-trade clause in order for the deal to go through.

The Yankees, who are missing key pieces in Derek Jeter, Alex Rodriguez and Mark Teixiera, have been shopping for a hitter, and got some power in Soriano, who has 17 home runs.