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A-Rod, Yanks agree to deal based on home run achievements

11/25/2007 - MLB Alex Rodriguez New York Yankees + more

NEW YORK -- Alex Rodriguez and the New York Yankees have
agreed on a $30 million marketing package based on home-run
achievements that could raise the total value of his new contract
to $305 million over 10 years.

Under the agreement, which remains to be finalized, Rodriguez
could receive $6 million each for tying the home-run levels of
Willie Mays (660), Babe Ruth (714), Hank Aaron (755) and Barry Bonds (762), and an additional $6 million for breaking Bonds' major
league record.

The Yankees could designate each level as a historic event,
enabling Rodriguez to receive the added money in exchange for
additional personal appearances and signed memorabilia for the
club. That enabled the agreement to be allowed by the players'
association and the commissioner's office. Baseball generally
prohibits bonuses based on statistics such as home runs.

Details of the agreement were first reported by The New York
Times on its Web site and were confirmed Saturday by a baseball
official who spoke on condition of anonymity because those aspects
have not been made public. The commissioner's office and the
players' association have approved the concept of the marketing
agreement, the official said.

Rodriguez has 518 homers, 17th on the career list. He opted out
of the final three seasons of his record $252 million, 10-year
contract on Oct. 28, forfeiting $72 million, and became a free
agent the following day. About a week later, he approached the
Yankees without agent Scott Boras and then with the help of two
Goldman Sachs managing directors negotiated a $275 million, 10-year
contract.

The outline of that deal was agreed to over the weekend of Nov.
10-11, and Rodriguez met three days later in Tampa, Fla., with Hank
and Hal Steinbrenner, the sons of Yankees owner George
Steinbrenner.

New York and Boras are working toward finalizing the agreement.