This is a huge pickup for Cleveland, a baseball team with tremendous aspirations in 2016. Miller has become a dominant late-inning reliever in recent years, so he will move directly into the closer role for the Indians (shifting right-hander Cody Allen into a setup role, which further strenthens Cleveland's bullpen). The Tribe gave up a ton to get Miller but have him under team control through 2018. Cleveland may now be considered the team to beat in the American League.

For the Yankees, this deal is further proof that they are retooling (if not completely rebuilding). The biggest addition is likely Frazier, a quality outfield prospect who may now be considered the Yankees' right-fielder of the future. He should see time in the Bronx no later than 2017. The best pitcher acquired is Sheffield, a talented left-hander who is probably two years away from joining the Yankees' rotation. Heller and Feyereisen are likely bullpen candidates for down the road.

Miller's addition is great news for Dellin Betances, the Yankees' new closer. It is bad news for Allen, who now moves to an eighth-inning role in Cleveland. Frazier could be the biggest winner after this trade, however, as he might be on the fast track to the big leagues following the trade. Sheffield is now also clearly on the keeper-league radar, while Heller and Feyereisen could become names to remember for the future.