That's the rumor.
More as it becomes available...
I'd rather the deal be for 4 years, but as long as it's done, it's a plus.
Certainly the plus to this is that it the starting point for knowing what needs to be done with the rest of the roster. The sooner that the players who are looking at free agency are dealt with, the sooner that moves can be made, or not, depending on the master plan (I am hoping that there is one).