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.