The hard-throwing lefty, who spent his first six years in the big leagues with the Cincinnati Reds, was traded to the Yankees last month.
Owners approved the change Thursday at their quarterly meeting.
Yankees managing general partner Hal Steinbrenner staunchly defended Chapman earlier this week, says he is "innocent until proven otherwise".
NY took a calculated risk in trading for the controversial closer after he was accused of domestic violence in a move that gave them, at least on paper, one of the most dominant bullpens in the league. "Mr. Chapman would like to thank the Davie police officers and the prosecutors at the Office of the State Attorney for their professionalism".
As for the gun, prosecutors say no one ever actually saw Chapman fire the gun - but even if he did, it was on his private property and didn't violate any Florida laws. "Not the other way around". Chapman had been under investigation for domestic assault, including firing a weapon at his girlfriend.
Chapman's girlfriend, Christina Barnea, claimed that Chapman pushed and choked her after she confronted him about finding something suspicious on his cell phone.
Chapman, 27, was not arrested because police reportedly determined there were inconsistencies in accounts about what had happened and they did not see any marks around Barnea's neck.
Later, Barnea told police that she did not recall saying that Chapman had struck her, and that she recalled only one gunshot though she did not know who fired it.
Commissioner Rob Manfred said the calendar dictated the decision. But Joe Girardi already has named him the Yankees' closer for 2016 - bumping Andrew Miller and Dellin Betances into setup roles - amid a public outcry from NY politicians and women's advocacy groups.
Charsadda Varsity Attack: US Offers Condolences To Victims' Families
I urge all people with peace in their hearts to renew their resolve to stand up to terrorism and ignorance, and work together to protect life and learning".
