Cashman to stay with New York Yankees

NEW YORK (Reuters) - Brian Cashman will retain his role as general manager and senior vice-president of the New York Yankees until the end of the 2011 season, the team said on Tuesday.

This month, the Yankees ended a 13-year streak of playoff appearances and Cashman's contract was scheduled to expire at the end of next month.

"We are thrilled that Brian has accepted to renew his commitment to this organization for at least three more years," New York co-chairmen Hal and Hank Steinbrenner said in a joint statement.

"Brian has shown throughout his Yankees career that he has the dedication, integrity and know-how needed to perform and succeed in this environment.

"Having him in place allows us to begin an off-season of hard work, and we are pleased he will be working hand-in-hand with us to bring the New York Yankees back to the postseason."

Cashman signed a three-year deal for around $5.5 million in October 2005 and he is expected to receive a similar contract to keep him at the club for another three seasons.

"I know I've said it before, but it's an incredible opportunity and honor to hold the title of general manager for the New York Yankees," Cashman said.

"With it comes a great responsibility to ownership, the people who wear the uniform and our fan base. I've got a job to finish here. That's the bottom line.

"I consider coming off a season where we didn't reach the playoffs for the first time since 1993 as a personal challenge. I've never been one to run from a challenge, and I look forward to having the chance to go after this thing again."

New York last missed the post-season in 1993, a year before a strike wiped out the 1994 playoffs.

(Writing by Mark Lamport-Stokes in Los Angeles; Editing by John Mehaffey)