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December 13, 2007

A-Rod finalizes contract with Yankees

NEW YORK (AP) - Alex Rodriguez set another record for baseball's highest contract, finalizing his $275 million, 10-year agreement with the New York Yankees on Thursday.

A-Rod set the previous mark with his $252 million, 10-year deal with Texas in December 2000. Traded to the Yankees in 2004, he opted out of that contract Oct. 28, during the final game of the World Series.

Yankees senior vice president Hank Steinbrenner said New York would not negotiate further with Rodriguez because his decision eliminated the $21.3 million subsidy the Yankees were to receive from Texas from 2008-10, a figure negotiated at the time of the trade.

But Rodriguez then approached the Yankees through a managing director at Goldman Sachs and negotiated his new deal without agent Scott Boras.

Rodriguez won his third AL Most Valuable Player award last month after hitting .314 with 54 homers and 156 RBIs.

Posted by Mike McDermott  at 10:56 AM | Permalink

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