The Indians designated the slumping slugger for assignment last week, ending his first season in Cleveland, one which began with power and production but fizzled out quickly with Reynolds on the bench.
Lacking a power-hitting right-handed bat for their lineup, the Indians signed Reynolds to a one-year, $6 million contract in December. The Yankees also have had issues with right-handed power this season.
Reynolds, who hit 60 homers in the previous two seasons in Baltimore, started well and hit 13 homers in April and May.
He batted .301 (25-for-83) in April, but just .187 (47-for-252) since, including .098 (5-for-51) with one RBI in July.
For the season, he's batting just .215 with 15 homers and 48 RBIs, and the free-swinger has struck out 123 times. Reynolds hit two homers since May and none since June 28.
Information from ESPNNewYork's Wallace Matthews and The Associated Press was used in this report.