The Yankees are finishing off a contract with closer Mariano Rivera and expect the deal to be completed by Friday, according to a baseball official who was consulted on the contract.

The two sides have agreed on the parameters of a one-year deal, the official said, and spent Thursday trying to finish off final details of Rivera's salary and incentives.

As reported Wednesday, Rivera is expected to take a pay cut from the $15 million he earned in 2012, and is likely to be guaranteed a salary in the neighborhood of $11-12 million. The deal is expected to include incentives that would allow him to reach $15 million in earnings if he is healthy enough to pitch all season.