CNBC VIDEO- "The Biggest Plays in Sports Business"
Alex Rodriguez was born July 27, 1975. He is a known as the best all around professional Baseball player, and plays third baseman for the NY Yankees. This is the biggest sports business story of decade as Alex, known as A-Rod, secured and finalized a $275 Million dollar deal with the Yankees. Thus, this makes A-rod the highest paid Baseball player.
A-Rod deserves all this money as of Sept. 2010 he hit a home run surpassing Sosa's mark of 604 home runs. Also, he was the youngest player to hit 50 home runs. This is a remarkable story as he beat his previous mark or deal that agent Scott Boras helped him achieve with the Texas Rangers of a $252 million dollar deal. This was due to the fact that A-Rod always wanted to return home to play with the NY Yankees but his agent told A-Rod that the Yankees did not want him back. However, this turned out not to be true and A-Rod found himself negotiating a deal by himself with Steinbrenner and his brother Hal, an executive vice president with the Yankees. A-Rod knew what he was worth and is a very valuable player even thought never won or reached a World Series yet. He negotiated with the Yankees and after 2 conversations the deal was made. The deal was as follows: A-Rod is to receive approx 32 million a year for 10 years, a sign on bonus of 2 million, and 6 million each for five milestones that team designates as historic achievements. As well, there is a no-trade clause in that A-Rod can not be traded without his permission. This is a great contract in that it allows A-Rod to earn $30 million more for reaching historic milestones.
There is no doubt in any one minds that A-Rod is an amazing all around baseball player and now has the money too as he secured the biggest and most lucrative contract in baseball history with the Texas Rangers to only turn around and sign an even larger one with the NY Yankees a 275M deal for 10-yr contract. Therefore, this is the biggest sports story of the past decade.
References:
1. Associated Press, Initials. (2007, December 13). Rodriguez finalizes $275m deal with yankees. Retrieved from http://sports.espn.go.com/mlb/news/story?id=3153171
2. Alex rodriguez biography. (2007). Retrieved from http://www.hispanic-culture-online.com/alex-rodriguez-biography.html
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