A 31-year-old left-hander, Britton was acquired by the Yankees from Baltimore on July 24 and had a 2.88 ERA and three saves in 25 appearances for NY.
This deal includes a third-year club option for the 2021 season.
He is 33 and was outstanding in 2018 as a set-up man for the New York Yankees.
According to the report, if the Yankees don't exercise the option after the second season, Britton will have the opportunity to opt out following that year. He had seven saves while posting a 3.10 ERA through 40 2/3 innings with NY.
A source tells ESPN Robertson will earn $10 million this upcoming season and $11 million in 2020.
With Robertson now in the fold, it gives the Phillies a potential closer and more stability towards the backend of the bullpen. He's been in the majors since 2008 and has spent most of his time with the New York Yankees, playing for the Chicago White Sox from 2015 to 2017. He converted five saves.
It looks like Zach Britton is staying in NY. Robertson was one of the best free agent relief pitchers available this offseason, and CBS Sports ranked him No. 22 on our Free Agent Tracker.