The Angels recieved two minor leaguers Exircado Cayones (OF) and Kramer Sneed (P) and cash from the Yankees.
Wells, who signed a 7 Year, $126 MM contract in 2007, will have to waved his no-trade clause to head to New York. The Angels ate most of Wells' contract, but will have some more cap room that will help them acquire what they need to build a World Series winning team.
The real question is, how will Wells help the Yankees? With Curtis Granderson down in center, this seems like a good move, but Vernon Wells cannot play Center Field! Even as a DH, Wells' production has gone way down, compared to his prime. I think the Yankees would be lucky if Wells hit .250.
This move looks like a no-brainer, but after some thought, it looks like a bonehead move. Have fun with your new acquistition, Yankees!